SMCP continues to invest in the China market
SMCP continues to invest and develop in the China market
SMCP, the leading fashion group in France, made a strong investment in China's potential market. Last year, the brand reached a revenue of more than €1 billion, so the brand decided to continue to develop its business in this market in the hope that sales will grow stronger in the future.
SMCP continues to develop its brand in China's potential market/ Ph: Sandro
Although the US and China posted a period of trade stress, SMCP continued to develop the brand. Other brands also see a potential market in China, so they are focused on business investment here.
Brands penetrate into the China market, then quickly increase the number of their retail stores across the country, which contributes to boost the brand's revenue many times.
Demonstration in France caused some SMCP stores to shut down/ Ph: Claudie Pierlot
The impact of trade wars with China has made the purchasing of high-end brands of Chinese people decline, this is a risk for brands. They aim for a new and potential market, Hong Kong. Despite the above sign, SMCP continues to invest and develop in China. Because this is the third largest market of the brand accounting for most of the revenue, only after the European and French markets.
The brand offers many new business strategies to attract customers, increasing sales to 20% by 2019. Earlier revenue reports showed that this is still a potential market to be exploited. In the near future, SMCP will expand its investment into the Asia Pacific region.
In France, due to the protests of some SMCP stores had to shut down for some time. This makes the brand lose 4 million euros of business revenue. Total sales in France also decreased by 1.9% compared to the previous.
SMCP still aims to develop a strong brand in China and surrounding areas with the desire to increase revenue more in the near future.