The fashion company will detail efforts to mitigate the crisis at an investor day on Oct. 27.
“We’re not looking to replicate what we had before,” said the executive.
The pandemic will have a strong impact on the second quarter, but early signs of recovery in China are encouraging, said ceo Daniel Lalonde.
Executive committee members are forgoing 30 percent of their fixed salaries.
The owner of Sandro, Maje, Claudie Pierlot and De Fursac also offered reassurances on its liquidity position.
The group postponed its April 2 Investor Day to Sept. 30.
SMCP opened 27 stores over the quarter.
The French men’s wear label was purchased by SMCP Group in September.
The company also said its smallest label Claudie Pierlot lagged Sandro and Maje.
The Shandong Ruyi-controlled group has added 55 points of sale in Europe and the Middle East and 66 in Asia over the last year.
The 1,700-square-foot store showcases a new modern store format to serve as the basis of further expansion abroad.
The owner of Sandro, Maje and Claudie Pierlot cleared a regulatory hurdle for its purchase of De Fursac.