SMCP, the parent company of the Sandro, Maje, Claudie Pierlot and Fursac brands, is adjusting its 2023 annual guidance, given the overall deterioration in market conditions since its last publication at the end of July.

The accessible luxury group is now targeting mid-single-digit sales growth at constant exchange rates, compared with 'mid-to-high single-digit growth' previously.

In terms of profitability, SMCP anticipates an adjusted EBIT margin of between 7% and 9%, compared with 'an improvement in its adjusted EBIT margin compared with 2022', or 9.2% of sales, previously.

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