SMCP posts slowing revenue growth
French fashion group SMCP, the parent company of fashion brands Sandro, Maje, Claudie Pierlot, and De Fursac, has announced its full-year performance data for 2023. Sales increased 4% YoY to $1.35 billion (€1.23 billion) according to fixed exchange rates. However, net profit plummeted to $12.10 million (€11 million), prompting the company to intensify efforts to enhance its brands and control costs. Regionally, although sales trends in China were lower than expected, strong sales were reported in Hong Kong, Macau, Singapore, and Malaysia.