SMCP continues its positive momentum into 2025. The group, which owns the accessible luxury brands Sandro, Maje, Claudie Pierlot, and Fursac, reported third-quarter sales growth, driven by the Americas and EMEA, while France and the Asia-Pacific region delivered more mixed performances.
Sandro
In the three months from July to September, group sales totalled 295 million euros, up 2.5% on an organic basis from the 293 million euros recorded in the third quarter of 2024. On a comparable basis, sales grew by 3.2%. In its press release, the group highlights the positive momentum of its physical store network across all regions, including China.
However, the picture varies by region. The Americas and EMEA (Europe, the Middle East, and Africa, excluding France) acted as key growth engines. The Americas reported “excellent momentum”, with organic growth of 10.5% (47 million euros). Performance in the US was driven in particular by price increases and higher volumes, while Canada returned to growth on a like-for-like basis, the group notes. EMEA also performed strongly, recording solid organic growth of 8.3% (110 million euros), supported by its full-price sales strategy and the dynamism of its partners, particularly in the Middle East and Turkey.
Conversely, France, where the group had posted growth in the first half, recorded a slight organic decline of 0.8% (97 million euros). The group cites the resilience of sales, which were nonetheless affected, particularly in September, by the political and economic environment. Lastly, Asia-Pacific saw sales fall by 10.7% (40 million euros) due to the continued impact of the business’ network optimisation strategy implemented in 2024.
These are brands on which Isabelle Guichot has been working, notably by recruiting new managing directors this year. The CEO notes the group’s “good momentum” and reaffirms the pillars of her strategy. “In line with our strategic plan, we continued our efforts across all our regions to strengthen the desirability of our brands, enabling us to implement our full-price strategy,” Guichot said in a press release. “Above all, these results reflect the commitment of our teams around the world. Building on this progress, we approach the end of the year with confidence in our ability to continue on this path, in a market that nonetheless remains uncertain.”
Cumulative sales for the first nine months of 2025 totalled 895 million euros, up 2.8% in organic terms on last year’s 879 million euros. Over this period, all the main brands remained in organic growth: Sandro at 3.2% (448 million euros) and Maje at 3.4% (340 million euros). France (+1.3%), EMEA (+6.7%), and the Americas (+11.4%) sustained this momentum, offsetting an 8.8% organic decline in APAC.
The group does not disclose its profitability for the quarter, but its CEO defends the group’s overall efforts to support margins. A central element, the full-price strategy has, according to the group, resulted in a three-point reduction in the average discount rate compared with 2024. SMCP notes that in Asia, its brands have made strong progress on this front, with an 8-point drop in the share of discounted sales, despite the impact on digital sales.
Overall, while the group’s brands are strengthening their storytelling and customer experience, stores remain a major focus for SMCP. Its network, which totals 1,651 points of sale, has been expanded with new openings, including 11 across Europe, the Middle East, and Africa. The group has also entered Georgia. And in 2026, an agreement with Samsung will enable further development in South Korea.
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