After a high loss in 2024 and years of wrangling among shareholders, the French ready-to-wear group SMCP achieved a net profit of 16.6 million euros in 2025. The parent company of the Sandro, Maje, Claudie Pierlot and Fursac brands announced this on Thursday.
“It’s starting to get a little nicer,” said Isabelle Guichot, the group’s managing director, welcoming the increased results. SMCP recorded global sales of 1.22 billion euros, representing growth of 0.5 percent.
Sales in France declining
In France, however, sales fell by 1.6 percent. According to the statement, the closure of 25 outlets impacted sales by 8.7 percent in the last quarter of 2025. The BHV in Paris and former Galeries Lafayette houses in the province, which were renamed BHV, were affected.
Isabelle Guichot defended the decision to end the collaboration with SGM, the operator of the BHV department stores: “A partner with whom we have had regular payment defaults for months,” she explained at a press event.
The closures came after Asian ultra-fast fashion brand Shein opened spaces in these BHV department stores: “There were strategic differences regarding the concept and the type of customer these stores wanted to attract.”
Outside France, the group is well positioned in Europe and the Middle East (+6.8 percent) and in America (+5.8 percent). In Asia, however, SMCP continues to record declines (-11.9 percent) as the company has significantly reduced its network in China.
In detail, the main brand Sandro (+0.6 percent) performs worse than Maje (+1.4 percent). Together, Claudie Pierlot and Fursac (-3.1 percent) are in greater difficulty.
After a net loss of 24 million euros in 2024, according to Isabelle Guichot, these positive results reflect the “effectiveness of our strategic plan, the rigor of management and the continuation of our Full pricestrategy”. This strategy consists of selling as little as possible at discounts as a brand.
Guichot praised her teams for their ability to stay focused on the “roadmap” despite years of capitalist “soap opera.”
In 2017, the Chinese group Shandong Ruyi was the majority shareholder of SMCP at the time of its IPO. The heavily indebted company became insolvent in 2021. In addition, 15.5 percent of its capital was illegally transferred to a company based in the British Virgin Islands.
After years of proceedings, the group clarified the situation in 2025 and announced the sale of more than 50 percent of its capital. The group’s net debt was reduced by 38 percent and fell to 147.5 million euros in 2025.
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