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SMCP records double-digit growth in first year under KKR

SMCP, the French fashion group that owns Sandro, Maje and Claudie Pierlot, saw net sales reach €422.1m (£346.1m) in 2013, as profits rose to €71m (£58m).

Turnover rose by 20.6% for the calendar year, with like-for-likes up 3.8% at a constant currency rate, while EBITDA climbed 17%. All of the business units grew as did all the regions the group – which was acquired by luxury group KKR in April 2013 – operates in “despite a high comparison basis in 2012”.

Within Europe, the UK was the strongest-performing territory, up 18.1% on a like-for-like basis, with Germany (13.9%) and Spain (7.6%) following. Sales in the US rose 5.4% despite the adverse weather conditions in spring and autumn of the year.  

The business increased its points of sale by 169, reaching 714 at the year-end. Almost 70% of its openings took place outside France, including its first foray into Asia.

International sales contributed to 35.2% of total net sales, although this rises to more than 40% for Sandro Women and Maje.

The company has recently hired a number of senior staff including former Ralph Lauren international president Daniel Lalonde as its first chief executive.

He has joined the board alongside the four founders Evelyne Chétrite, Judith Milgrom, Frédéric Biousse and Elie Kouby.

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