The French premium fashion chain will open a 200 square meter stores in Paseo de Vara del Rey, the main commercial street in the Spanish island.
Maje sets foot in the island of sun, parties and lots of tourism. The French brand, owned by Chinese holding Shandong Ruyi, has signed the lease for a new store in Ibiza, Spain.
The company will open its first store in the island at Vara de Rey 11, the main commercial street in the Spanish city, which was pedestrianized in 2017. The store will have 200 square meters and its located in the same street where Sephora, Lacoste or Massimo Dutti also operate. Alorac Illes Balears has intermediated the lease.
Ibiza and neighbor island Formentera received 3.14 million tourists last year. Germany and United Kingdom where the two leading countries of origin of the island’s visitors.
Spain is one of the largest markets for SMCP in EMEA (excluding France). The group, owner of Maje, Sandro and Claudie Pierlot, landed in Spain in 2007 with the opening of the first Maje store in Madrid with a master franchisee.
Maje has over 17 standalone stores in Spain and 14 shop in shops
In the following years, the brand expanded with stores in the main cities, reaching 17 standalone points of sale and 14 shop in shops in El Corte Inglés department stores.
SMCP group has multiplied by five its turnover since 2010, reaching 1 billion euros in sales in 2018 and a EBITDA margin of 16.9%. In its most recent fiscal year, the group’s revenue reached 1.1 billion euros, up 11.3%, fueled by growth in Asia Pacific, where company’s sales rose 28%.
The company is owned by Shandong Ruyi, a Chinese group founded in 1972 and with interests throughout the value chain, from raw materials to fashion brands. One of its latest acquisitions was Invista, the largest manufacturer of synthetic fibers and owner of Lycra.
Shandong Ruyi has also enlarged SMCP with acquisitions. Last September, the group bought De Foursac, specialized in menswear.