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Tag: Shangdong Ruyi

  • China’s SMCP tops 1 billion euros revenue for first time

    China’s SMCP tops 1 billion euros revenue for first time

    Chinese-owned SMCP Group said that total company sales exceeded 1 billion euros in 2018, marking a revenue-first for the French fashion group. “With double-digit sales growth in 2018, SMCP posted a remarkable performance and continued to deliver on its strategic roadmap,” said Daniel Lalonde, SMCP’s Chief Executive Officer. For the year ending December 31, SMCP recorded sales increasing 13%, in line with its previously upgraded full-year 2018 guidance.

    Lalonde said the achievement signalled rapid sales increase was fuelled by online and digital, with the company working hard to fight market headwinds, which have taken out other European retailers in 2018.

    “Our performance throughout the year, and more particularly over the last quarter, demonstrates that SMCP is built on strong foundations and further illustrates the resilience of our business model in the midst of unprecedented market headwinds,” said Lalonde, in a press release.

    “I would also like to place a special emphasis on our significant progress in digital: it has been growing consistently and strongly over the past years and now represents nearly 15% of our total sales,” he added.

    The sales growth included a solid like-for-like sales growth of 3.7% for the twelve-month period “despite challenging market conditions in the fourth quarter,” which saw sales climb less, up 8%.

    Full-year reported sales were up 11.5%, including a negative currency impact of -1.6% reflecting the appreciation of the euro.
    Over the last twelve months, SMCP net openings reached 134 points of sale, including 102 directly operated stores, surpassing its annual target. By region, 59 stores were opened in APAC alone, the zone receiving the most new outlets compared to the Americas and Europe.

    In APAC, the group posted a strong double-digit sales growth of 18.2% at constant currency, driven by mainland China which generated over 20% of sales growth.

    The operator of French fashion brands Sandro, Maje and Claudie Pierlot said Sandro sales grew 6% in 2018, while Claudie Pierlot recorded a 7% increase. Maje was the biggest grower, up 10% for the year.

    For 2018, SMCP confirmed its adjusted EBITDA margin guidance at around 17%.

    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 was founded in 1984 by Claudie Pierlot and acquired by SMCP in 2009.

    SMCP was acquired China’s Shandong Ruyi in 2016.

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  • Secoo partners with Shangdong Ruyi

    Secoo partners with Shangdong Ruyi

    Asia’s largest online luxury platform Secoo has formed a strategic partnership with Chinese company Shangdong Ruyi for the sale and distribution of the latest  luxury clothing and accessories.

    The partnership between the Chinese firms will see both companies “leverage respective resources and expertise in branding, technology, network and channel management to jointly establish a global omnichannel fashion supply chain characterized by deep cooperation in brand operations, big data, smart manufacturing and smart retail,” said Beijing-based, Secoo, in a press release on July 16.

    Ruyi is no stranger to fashion and retail. The group currently supplies for a wide range of luxury brands globally, and in recent years, has acquired minority stakes and taken ownership of several international fashion and luxury brands. Most recently, Ruyi acquired Sandro, Maje and Claudie Pierlot, under France’s SMCP umbrella, which is listed on the Euronext Paris exchange.

    In addition to SCMP, Ruyi also owns British trench coat brand Aquascutum, and has a controlling stake in Hong Kong menswear group Trinity, which operates Cerruti 1881, Gieves & Hawkes and Kent Curwen.

    The new partnership correlates with Secoo’s goal to establish links with big name players in the luxury e-commerce sphere, according to Richard Li, rounder and CEO of Secoo, adding that his firm is a good match for Ruyi.

    “Our leading integrated luxury e-commerce platform is well-suited to drive growth through rapidly expanding brand collaborations and increasing product portfolios,” said Li, in a statement.

    The pair will cooperate on a variety of fashion and luxury retail innovations ranging from big data solutions to smart manufacturing to first-class shopping experiences for Secoo’s high-end customers.

    Ruyi hopes to tap this savvy customer base across Secoo’s integrated online and offline shopping platform. Currently, the firm operates Secoo.com, its mobile applications and offline experience centres, which attract approximately 20 million customers.

    “We believe this expansive integrated platform along with our valuable brand assets and supply chain network expertise will synergize and unlock unparalleled opportunities in the fashion market for both firms,” said Yafu Qiu, chairman of Ruyi Group.

    In the news follows recent tie-ups with brands in different areas, including Parkson Retail Group (cosmetic products), Capital Outlets Group (brands entry), Caissa Travel (customized travel service), Pernod Richard (alcohol products) and Edison Chen (limited products).

    This month, Secoo alos received a $175 million investment from L Catterton Asia and JD.com, aimed at “fastening brands relationship and enriching products categories,” said Secoo.

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