Tapping affordable luxury during tough times

The fashion industry in general might be having a challenging time, but some brands are thriving thanks to the sweet spot called accessible luxury, where luxury meets affordability.

SMCP, the French company that owns affordable luxury brands Sandro, Maje and Claudie Pierlot, announced its annual results late last month.

The company achieved net sales of 786 million euros($837 million) last year, a 16.4 percent increase year-on-year, beating the sluggish performance of the industry overall.