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PARIS — Who’s hankering for a return to normal? Not Daniel Lalonde. The chief executive officer of SMCP, the group behind accessible luxury labels Sandro, Maje, Claudie Pierlot and De Fursac, is not looking back — the world has changed. He’s developing a business plan for the new order.
The group reported a 45.8 percent decline in second quarter sales to 265.7 million euros, reflecting the steep impact of coronavirus shutdowns and slow path to recovery, with the sharpest declines coming from the Americas. Across France, its biggest market, and the rest of Europe and the Middle East region, sales were down 46 percent and 54.9 percent, respectively. The Asia Pacific region clocked the best performance, down 19.5 percent, with the company flagging that growth returned to China in June.
“My objective is not to return to the performance and levels of 2018