The textile group SMCP achieved record sales in the first half of the year and multiplied by 20 its net profit which returned to its pre-pandemic level, which allows it to confirm its forecasts for 2022 despite the impact of Covid-19 in Asia.
Between January and the end of June 2022, the French champion of “accessible luxury”, between “fast fashion” (rapid renewal of collections at low prices) and luxury, recorded 565.4 million euros in sales (+24.7 per cent): a “record level”, boasted in a press release published Monday Isabelle Guichot, General Manager of the group.
These sales mainly reflect a “good performance in Europe, driven by local demand and the gradual recovery of tourism” – with an “excellent” second quarter where sales returned to and exceeded their pre-pandemic level – and “substantial growth in the Americas region” (+28.1 per cent compared to the first half of 2021, +16.3 per cent compared to 2019), specifies the press release.
“Although the current geopolitical and macroeconomic environment creates some uncertainty, we confirm our forecast for the whole of 2022 if the situation does not deteriorate further,” added Isabelle Guichot.
The group had indicated at the start of the year that it was aiming for double-digit growth in sales compared to those of 2021.