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SMCP Sales Up 20.6% in 2013

The company’s growth was boosted by its international expansion.

PARIS — SMCP Group, the holding company for the Sandro, Maje and Claudie Pierlot contemporary brands, registered a 20.6 percent rise in 2013 revenues to 422.1 million euros, or $578.4 million at average exchange for the period.

 

The French company said that in constant-currency terms, sales grew 3.8 percent. International revenues accounted for 35.2 percent of business, an increase of 5.9 percentage points year-on-year.

 

“All brands, business units and geographical areas participated to this strong performance, with solid organic growth and an ongoing intensive expansion strategy,” stated chief executive officer Frédéric Biousse.

 

In France, like-for-like gains stood at 2.3 percent, while in the rest of Europe, the company saw like-for-like sales increase 9.2 percent, including 18.1 percent growth in the UK. In the U.S., like-for-like sales at constant currency advanced 5.4 percent.

 

The company opened 169 sales points last year, bringing its total number of doors on Dec. 31 to 714 in 14 countries — 270 under the Sandro banner, 196 Maje stores, 105 Claudie Pierlot boutiques and 31 Suite 341 doors carrying all three brands as well as other labels.

 

Fifty stores were opened in the U.S., plus a Canadian subsidiary and 10 boutiques in that market. In August, SMCP opened its first stores in China.

 

The company also entered discussions to take over its Hong Kong-based wholesale partner, AZ Retail Ltd., which operates six sales points. Talks are still ongoing.

 

Kohlberg Kravis Roberts & Co. (KKR) bought a 65 percent stake in SMCP in June 2013.