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SMCP SA
Investor Relations

SMCP SA is a French fashion group that designs, markets, and sells premium clothing and accessories under brands such as Sandro, Maje, Claudie Pierlot, and Fursac. It focuses on ready-to-wear pieces, shoes, bags, and accessories that sit between mass-market fashion and luxury labels, aimed at customers who want style and brand identity without buying top-end couture. The company makes money by selling through its own stores, e-commerce sites, and wholesale partners such as department stores and other retailers. Its main customers are style-conscious men and women in urban markets who shop for branded fashion for work, everyday wear, and special occasions. Because it controls both brand design and retail distribution, SMCP can shape how its labels are presented and priced. What makes SMCP’s business model distinct is that it is built around a small group of clearly positioned brands rather than one large general clothing line. Each label has its own look and customer base, but they share the same company resources for sourcing, logistics, and store development. That gives SMCP a focused role in the fashion value chain: it turns brand design and merchandising into products that are sold directly to consumers and through selected retail partners.

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Last Earnings Call
Fiscal Period
Q2 2024
Call Date
Jul 25, 2024
AI Summary
Q2 2024

Revenue Decline: Half-year sales were EUR 585 million, down 3.6% at constant FX and 5.5% like-for-like, mainly due to weakness in China.

Margin Improvement: Gross margin improved by over 1 point to above 74% thanks to lower discounting and inventory control.

China Headwinds: Greater China sales fell 20% organically, with 30 store closures in H1 and 40 more planned, impacting overall sales.

Net Debt Progress: Net debt dropped to EUR 293 million, EUR 13 million lower than last year, supported by tight inventory and CapEx control.

Brand Strength Outside China: Sandro and Maje performed well in all regions except China; Europe, France, and America showed resilient trends.

Positive Outlook for H2: Management expects more favorable comps from August and early success with fall/winter collections.

Restructuring Costs: EUR 2 million in restructuring charges were recorded in H1, with some ongoing impact in H2.

Key Financials
Revenue
EUR 585 million
Gross Margin Ratio
above 74%
Adjusted EBIT Margin
3.2% of sales
Net Debt
EUR 293 million
Inventory
minus 7%
CapEx
4% of sales
Free Cash Flow
minus EUR 9 million
Debt-to-EBITDA Ratio
3.05
CO2 Emissions Reduction
minus 15% between '22 and '23
Asia (Greater China) Revenue
EUR 106 million
France Revenue
EUR 202 million
EMEA Revenue
EUR 192 million
America Revenue
EUR 85 million
Restructuring Costs
EUR 2 million in H1
Earnings Call Recording
Other Earnings Calls

Management

Ms. Isabelle Guichot
CEO & Director
No Bio Available
Ms. Judith Milgrom
Founder, Deputy CEO, Deputy GM & Executive Director
No Bio Available
Mr. Ylane Chetrite
Founder, Deputy GM & Non-Voting Director
No Bio Available
Ms. Patricia Huyghues Despointes
Group Chief Financial Officer
No Bio Available
Marie-Caroline Benezet
Group Operations & Transformation Director
No Bio Available
Amelie Dernis
Head of Investor Relations
No Bio Available
Ms. Nathalie Malavoy
Global Human Resources & Sustainability Director
No Bio Available
Mr. Stephane Ledru
Chief Executive Officer of Claudie Pierlot
No Bio Available
Ms. Isabelle Allouch
Chief Executive Officer of Sandro
No Bio Available

Contacts

Address
ILE-DE-FRANCE
Paris
49, rue Etienne Marcel
Contacts
+33155805100.0
www.smcp.com
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