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French fashion group SMCP's third-quarter sales rise 17.7 percent
November 29, 2017 / 7:19 AM / 15 days ago

French fashion group SMCP's third-quarter sales rise 17.7 percent

PARIS (Reuters) - French fashion group SMCP (SMCP.PA) reported higher third-quarter sales on Wednesday, in its first set of published revenue figures since the company listed on the stock market last month.

The logo of ready-to-wear Sandro brand is seen on a fashion shop storefront in Paris, France, March 29, 2017. REUTERS/Charles Platiau/File Photo

SMCP, majority-owned by Chinese group Shandong Ruyi (002193.SZ) and whose brands include Sandro, Maje and Claudie Pierlot, said third-quarter sales had risen 17.7 percent to 218 million euros ($258.50 million). At constant currencies they rose 20 percent.

“The group’s strong third-quarter performance confirms the growth prospects of Sandro, Maje and Claudie Pierlot,” said SMCP chief executive Daniel Lalonde in a statement.

“We continue to implement our strategy based on pursuing organic growth, gaining market share in France and expanding internationally. On this first publication as a listed company, we confirm the 2017 financial objectives presented at the time of our initial public offering,” he added.

Reporting by Sudip Kar-Gupta; Editing by Sarah White

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