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Owner of Fashion Labels Sandro, Maje Sees Profit Cushioned by Online Shopping

French fashion group SMCP, the owner of the Sandro and Maje labels, said its 2020 core profit fell less than feared, cushioned by a rise in online sales and cost-cutting. (Maje)
French fashion group SMCP, the owner of the Sandro and Maje labels, said its 2020 core profit fell less than feared, cushioned by a rise in online sales and cost-cutting. (Maje)
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Owner of Fashion Labels Sandro, Maje Sees Profit Cushioned by Online Shopping

French fashion group SMCP, the owner of the Sandro and Maje labels, said its 2020 core profit fell less than feared, cushioned by a rise in online sales and cost-cutting. (Maje)
French fashion group SMCP, the owner of the Sandro and Maje labels, said its 2020 core profit fell less than feared, cushioned by a rise in online sales and cost-cutting. (Maje)

French fashion group SMCP, the owner of the Sandro and Maje labels, said on Wednesday its 2020 core profit fell less than feared, cushioned by a rise in online sales and cost-cutting.

Retailers were hit hard as governments forced shops to close during coronavirus-related lockdowns and SMCP’s 2020 sales fell by a quarter, only partially offset by recovery in China and accelerating digital sales trends.

“As expected, our full year results were strongly impacted by the pandemic which led to lockdown measures in most countries and a halt in tourism flows,” Chief Executive Daniel Lalonde said in a statement.

The company, which also owns mid-priced luxury brands Claudie Pierlot and De Fursac, said its annual earnings before interest, taxes, depreciation, and amortization (EBITDA) fell by almost 40% to 179.6 million euros ($212.70 million) compared to analysts’ average forecast of 128.62 million euros in a Refinitiv poll.

SMCP added that earnings showed a sharp improvement in the last six months of 2020 compared with the first half of the year.

With brands including Sandro, Maje and Claudie Pierlot, the Paris-based SMCP offers more affordable alternatives to Prada or Louis Vuitton products, selling dresses in the 250-400 euro ($295-$473) range.

Shares in SMCP have dropped 75% since late 2018 as the company was hit by a global economic slowdown followed by the coronavirus pandemic, but started 2021 with a pick-up of about 15% since the beginning of the year. The company added it would not provide an outlook for 2021 because of continued uncertainties related to the coronavirus pandemic.

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Fashion

Paris Appeals Court Rejects Government's Request for Suspension of Shein's Marketplace

(FILES) This photograph shows the logo of Asian e-commerce giant Shein in its stall at the Bazar de l'Hotel de Ville (BHV) department store in Paris on November 4, 2025. (Photo by Julie SEBADELHA / AFP)
(FILES) This photograph shows the logo of Asian e-commerce giant Shein in its stall at the Bazar de l'Hotel de Ville (BHV) department store in Paris on November 4, 2025. (Photo by Julie SEBADELHA / AFP)
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Paris Appeals Court Rejects Government's Request for Suspension of Shein's Marketplace

(FILES) This photograph shows the logo of Asian e-commerce giant Shein in its stall at the Bazar de l'Hotel de Ville (BHV) department store in Paris on November 4, 2025. (Photo by Julie SEBADELHA / AFP)
(FILES) This photograph shows the logo of Asian e-commerce giant Shein in its stall at the Bazar de l'Hotel de Ville (BHV) department store in Paris on November 4, 2025. (Photo by Julie SEBADELHA / AFP)

A Paris Court of Appeal on Thursday rejected the French government's request to suspend Chinese online platform Shein's marketplace, defeating an appeal by the state after a Paris court ruled against the government in December.

Shein has ⁠been embroiled in ⁠a scandal since France's consumer watchdog DGCCRF found sex dolls resembling children and banned weapons for sale ⁠on its marketplace last year, prompting the government to attempt to suspend the platform.

In December, a Paris court had rejected the government's request to suspend the Shein site in France as a ⁠whole ⁠for three months, saying it would be "disproportionate", prompting the government to appeal the ruling.

Shein banned all sex dolls and suspended the adult products category from its marketplace globally on November 3 after the consumer watchdog's findings.

Fashion

Zara Taps British Designer John Galliano for Partnership

Signage hangs at a Zara store in Granada on March 15, 2025. (AFP)
Signage hangs at a Zara store in Granada on March 15, 2025. (AFP)
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Zara Taps British Designer John Galliano for Partnership

Signage hangs at a Zara store in Granada on March 15, 2025. (AFP)
Signage hangs at a Zara store in Granada on March 15, 2025. (AFP)

Spanish fashion retailer Zara said Tuesday it has entered into a two-year "artistic partnership" with controversial British designer John Galliano.

The 65-year-old couturier will reconfigure pieces drawn from Zara's past collections into new designs, the company said in a statement.

"Guided by a haute couture process and approach, the collections will be unveiled each season throughout the duration of the partnership, starting in September 2026," it added without giving further details.

Zara is owned by Inditex, the world's leading low-cost fashion retailer which posted a record annual profit in 2025 for the third year running.

"To deliver fashion through that enormous platform -- that, of course, that's thrilling. And to be able to work with the kind of resources they have as well, that's equally thrilling," Galliano told fashion magazine Vogue.

Galliano, who previously headed artistry at Givenchy and Christian Dior, has dressed countless celebrities during his tenure, including Kim Kardashian, Kary Perry and Zendaya for red-carpet events.

Known for his flamboyant personality and daring designs, Galliano's career suffered a dramatic setback in 2011 following a drunken rant in a Paris bar where he hurled antisemitic and racist insults at the other patrons.

He was subsequently dismissed from Dior, underwent rehab in Switzerland and apologized for his behavior during a visit to the Central Synagogue in London.

Gibraltar-born Galliano returned to the fashion world in 2014 when he joined French label Maison Margiela as its creative director, a position he held until 2024.

With fast-growing budget fashion retailer Shein taking share at the cheaper end of the market, Zara has moved to attract more discerning shoppers and offered more expensive clothing in recent years.

Fashion

Fashion Commission Hosts Discussion on Saudi Fashion Global Expansion

Fashion Commission Hosts Discussion on Saudi Fashion Global Expansion
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Fashion Commission Hosts Discussion on Saudi Fashion Global Expansion

Fashion Commission Hosts Discussion on Saudi Fashion Global Expansion

The Fashion Commission organized a virtual open meeting to discuss the international expansion of Saudi fashion brands as part of its ongoing efforts to support the national fashion ecosystem and boost the presence of Saudi brands in global markets.

The meeting aimed to highlight pathways for international expansion, explore opportunities for designers and entrepreneurs in the fashion sector, and review key challenges that brands may face during growth and expansion, SPA reported.

The session is part of a series of open meetings organized by the Fashion Commission to enhance dialogue with the fashion community in Saudi Arabia, sharing knowledge and expertise that contribute to the sector’s development and enable Saudi brands to transition from local growth stages to a global presence.