specialty-stores
specialty-stores

Maje Appoints Style and Image Director

SMCP Group, parent of Maje and Sandro, also reported net earnings jumped 17 percent.

specialty-stores/news

PARIS — Fast-growing French chain Maje has tapped Capucine Safyurtlu, fashion and market editor at French Vogue, as its director of style and image, a new post. This confirms a report on WWD.com on April 25.

She is to work alongside Maje founder and artistic director Judith Milgrom on design, and be responsible for the brand’s visual identity, along with merchandising of all Maje stores worldwide.

Before French Vogue, Safyurtlu was Numéro’s fashion editor for 13 years.

Paris-based SMCP Group, the holding company for the Sandro, Maje and Claudie Pierlot chains, has been staffing up ahead a global expansion drive.

Daniel Lalonde, former president of Ralph Lauren International and a longtime executive at LVMH Moët Hennessy Louis Vuitton, was named chief executive officer; and former Giorgio Armani executive Fabio Mancone joined SMCP as head of global branding and business development strategies, as reported.
It is understood that clarifying each brand’s identity and positioning is integral to achieving SMCP’s development plans.

Kohlberg Kravis Roberts & Co. bought a 65 percent stake in SMCP last June, signaling heightened investor interest in the accessible luxury segment.

Separately, SMCP announced it has bought 100 percent of its Hong Kong-based wholesale partner, AZ Retail Ltd., for an undisclosed sum. AZ, which operates six sales points, generated more than 5 million euros, or $6.6 million, of retail sales in 2013, it said.

The announcement coincides with the opening of its first point of sale in Singapore, and SMCP plans to pursue its expansion in Asia with the opening of further points of sale in Mainland China in the coming months. It launched its own retail network in Asia in August 2013 and had 11 points of sale in the region by the end of last year.

The group simultaneously reported earnings before interest, taxes, depreciation, and amortization totaled 71.2 million euros, or $94.6 million, in 2013, up 17 percent versus the previous year.

Revenues rose 20.6 percent to 422.1 million euros, or $578.4 million, as reported. All dollar rates are calculated at average exchange for the period in question.

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