SMCP launches in India with first stores planned for 2024

SMCP launches in India with first stores planned for 2024

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AFP

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November 30 2023

The textile group SMCP, parent company of the brands Sandro, Maje, Claudie Pierlot and Fursac, already present in 47 countries, announced Thursday its arrival on the Indian market, where it will open its first stores in 2024.

Facade of a Sandro store. – Sandro

SMCP will “enter the Indian market via a partnership with the group Reliance Brands Limited (RBL), which becomes the exclusive distributor of the Sandro and Maje brands on the market,” the group said in a press release.

RBL, described as “the first retailer Indian luxury brand, has entered into exclusive long-term partnerships in many sectors with globally recognized houses such as Bottega Veneta, Tiffany & Co., Valentino, Versace, Armani, Balenciaga,Boss, Zegna“, according to the press release.

“With a portfolio of more than 90 brands, RBL operates more than 900 physical stores and as many concessions, all with a unique online presence,” continues SMCP.

“This new partnership illustrates the continued expansion of SMCP, currently present in 47 countries, in growing markets with very strong growth potential. Sandro and Maje will open their first stores in the country in 2024,” adds the group.

At the end of October, SMCP, which claims to be the champion of “accessible luxury”, announced a 2% decline in its sales in the third quarter compared to the same period in 2022, due in particular to “the slowdown in consumption”.

Paris, November 30, 2023 (AFP)

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