Fashion group SMCP returns to profit in 2025

Paris - Following a significant loss in 2024 and years of shareholder turmoil, the French ready-to-wear group SMCP (Sandro, Maje, Claudie Pierlot and Fursac) generated a net profit of 16.6 million euros (19.62 million dollars) in 2025, it announced on Thursday.

“It’s starting to get a little brighter,” said Isabelle Guichot, the group’s chief executive officer. She praised the improved results for SMCP, which reported a global turnover of 1.22 billion euros, a growth of 0.5 percent.

In France, however, the group saw its sales decrease by 1.6 percent. According to a statement, the closure of 25 points-of-sale “weighed on sales” in the final quarter of 2025, causing an 8.7 percent drop. These closures occurred within BHV in Paris and former Galeries Lafayette stores rebranded as BHV in the provinces, including Limoges, Dijon, Grenoble, Reims, and Angers.

Guichot defended the “choice” to part ways with SGM, the operator of BHV. She described SGM as “a partner with whom we had regular payment defaults for months now” during a press briefing.

These closures followed the introduction of spaces for the Asian ultra-fast fashion brand Shein in these BHV stores. “There were strategic differences regarding the approach and the quality of clientele these stores wished to attract,” she added.

Smcp group figures in 2025

Outside of France, the group is performing well in Europe and the Middle East, with a 6.8 percent increase, and in America, with a 5.8 percent rise. It continues to lag in Asia, down 11.9 percent, as SMCP has significantly reduced its network in China.

By brand, the main brand Sandro (up 0.6 percent) performed less well than Maje (up 1.4 percent). Combined, Claudie Pierlot and Fursac (down 3.1 percent) are facing more challenges.

Following a net loss of 24 million in 2024, Guichot stated that these positive results reflect “the effectiveness of our strategic plan, rigorous management, and the continuation of our full price strategy.” The strategy involves a brand selling with as few discounts as possible.

She praised her teams' ability to “stay focused on the roadmap” despite the shareholder “saga” that has been ongoing for several years.

In 2017, SMCP's majority shareholder at the time of its IPO was the Chinese conglomerate Shandong Ruyi. The heavily indebted company defaulted in 2021. Furthermore, 15.5 percent of its capital had been illegally transferred to a company based in the British Virgin Islands. After years of legal proceedings, the group resolved the situation in 2025. It announced the sale of over 50 percent of its capital, seeking a solid buyer to end this shareholder chaos.

The group was able to reduce its net debt by 38 percent, bringing it down to 147.5 million euros in 2025.

This article was translated to English using an AI tool.

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