NEW YORK--(BUSINESS WIRE)--French fashion group SMCP(SMCP.PA), owned by Ruyi holding group (002193.SZ), released vital financial data for the second quarter of fiscal 2019 on July 25. In the second quarter of 2019, consolidated sales reached €266 million, up +8.9% at constant currency, and achieved substantial business growth worldwide. The international market showed +13.7% sales growth at constant currency, notably driven by mainland China with +30% constant currency. In Asia-pacific markets, the group recorded another very strong quarter with +23.4% sales growth at constant currency from April to June. In the Americas, the group generated +13.3% sales growth at constant currency. In EMEA, SMCP delivered +7.5% growth at constant currency. And the French local market sales were back to growth.
Ruyi group acquired SMCP in 2016 for €1.3 billion. It is Ruyi group's biggest acquisition in the clothing brand sector since it acquired Renown, a cross-century Japanese brand, in 2010. As of July 24, Ruyi group holds 53.7% of SMCP's share capital, the shareholding ratio of management team is 6.4%. With the reallocation of global resources by Ruyi group, SMCP will make a significant contribution to Ruyi group in the name of its subsidiary on its way to building the global fashion blueprint and becoming a world-renowned fashion industry group.
Ruyi group adheres to the development concept of "one world, one family." after adding SMCP to "Ruyi family," Ruyi group not only builds up strength for its own brand but also helps SMCP to open the Chinese market. In this way, Ruyi group achieves the goal of mutual benefit and win-win situation. The acquired SMCP, as a sub-brand of Ruyi group, received resource support from Ruyi group in China's local market and cooperated with Chinese e-commerce platform JD.com, the world's leading company in high tech and AI delivery through drones. Thus, SMCP expanded e-commerce sales channels, and achieved the steady growth of digital marketing business.
Ruyi group gives independent operation to its sub-brands as much as possible. SMCP completed its acquisition of French luxury menswear brand De Fursac on June 25, with the support of Ruyi group. It is SMCP's first acquisition since joining the "Ruyi family," most significantly, it is the very first acquisition since SMCP was founded. The acquired brand De Fursac has excellent suppliers who insist on using exquisite techniques and advanced fabrics. It has been ranked among the top three in the affordable luxury menswear department of French department stores for a long time and is highly sought after by international customers, especially Chinese tourists. As the first independent men's wear brand under SMCP, Ruyi group will lead the sub-brand SMCP to expand its fashion blueprint further and expand its fashion business to cover the men's affordable luxury market.