By
AFP
Translated by
Nicola Mira
Published
April 28, 2026
Sales for ready-to-wear group SMCP, parent company of the Sandro, Maje, Claudie Pierlot, and Fursac labels, were down 0.8% on an annual basis in Q1 2026, having increased in all the group’s regions except France.
SMCP recorded a revenue of €287 million in Q1, according to a press release. Revenue grew 11.7% in the Americas, 4.9% in the Middle East and Europe (excluding France), and 2.6% in the Asia-Pacific region.
SMCP’s revenue slumped only in France, dropping 13% to €89 million, “penalised by flat consumer expenditure” and by the “shrinking of the number of BHV-SGM stores,” said the press release.
In 2025, SMCP closed down 25 shop-in-shops, in the BHV department store in Paris and in former Galeries Lafayette branches that were renamed BHV outside the capital (in Limoges, Dijon, Grenoble, Reims, and Angers). At the time, SMCP said this was due to sums owed by SGM, the company that operates BHV.
The revenue drop in France also resulted from “a lower contribution from January end-of-season sales,” according to Isabelle Guichot, managing director of SMCP, cited in the press release, who noted the group has decided to limit sales promotions for its labels.
In Q1, SMCP generated a revenue of €44 million in the Americas, and of €51 million in Asia-Pacific. In the Middle East and Europe (excluding France), revenue reached €103 million and “wasn’t impacted” by the war in the Middle East. SMCP stated that “deliveries for the summer 2026 collection had already been completed before the conflict started.”
Maje posted the best performance among SMCP’s labels, its sales growing 5%, while Sandro recorded a 1.4% downturn and the two other labels, Claudie Pierlot and Fursac, recorded a 15.1% drop.
“In Q1 2026, the group showed its resilience within a troubled market context,” said Guichot, who praised “the positive momentum enjoyed across most of our regions,” proof of “the solidity of our business model and the relevance of our execution.”
SMCP is present in 59 countries, and its products are sold via approximately 1,600 stores.
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