SMCP - Update on COVID-19
25 Février 2020 - 8:27AM
SMCP - Update on COVID-19
Press release - Paris, February 25th, 2020
Update on the impact of the
COVID-19
Since SMCP’s last communication on January 29,
2020, the outbreak of Covid-19 in China1 is having a material
negative effect on Chinese consumption.
In this context, SMCP’s sales and profitability
are significantly impacted in China1 (a key market for the Group),
and, to a lesser extent in the other regions, due to a decrease in
Chinese tourists.
While SMCP had been generating a strong
performance during the first 3 weeks of January in mainland China,
a meaningful part of the Group’s stores has been temporarily closed
in mainland China and in Macau since then. A situation which is
changing daily. In parallel, the remaining stores are operating
with limited opening hours.
Daniel Lalonde, CEO of SMCP,
stated: “We are grateful to our local teams for their
dedications and professionalism during these challenging times. We
have put in place a global team to monitor the situation on a daily
basis, with the key priority of ensuring the safety, health and
protection of our employees and our customers. While we cannot
predict the duration of the crisis, we have been taking appropriate
measures to mitigate the impact on our business. Beyond this, I
remain fully confident in our strategy, the strength of our brands
and their potential in China.“
In this context, SMCP has decided to postpone
its capital market day, initially scheduled for April 2, 2020 to
September 30, 2020.
The Group continues to monitor the situation
carefully and will update the market upon publication of its annual
results, on March 25, 2020.
ABOUT SMCP
SMCP is a global leader in the accessible luxury
market with four unique Parisian brands: Sandro, Maje, Claudie
Pierlot and De Fursac. Present in 41 countries, SMCP is a
fast-growing company which reached the milestone of €1bn in sales
in 2018. The Group comprises a network of over 1,500 stores
globally plus a strong digital presence in all its key markets.
Evelyne Chetrite and Judith Milgrom founded Sandro and Maje in
Paris, in 1984 and 1998 respectively, and continue to provide
creative direction for the brands. Claudie Pierlot and De Fursac
were respectively acquired by SMCP in 2009 and 2019. SMCP is listed
on the Euronext Paris regulated market (compartment A, ISIN Code
FR0013214145, ticker: SMCP).
CONTACTS
INVESTORS/PRESS
PRESS
SMCP
BRUNSWICK
Célia d’Everlange
Hugues
Boëton
Tristan Roquet Montegon
+33 (0) 1 55 80 51 00
+33 (0) 1 53 96 83
83
celia.deverlange@smcp.com
smcp@brunswickgroup.com
1 Including mainland China, Hong-Kong and Macau
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