2025 Q1 Sales

Continued growth in Q1 2025,driven by performance in France, EMEA, and wholesale partners

• Q1 2025 sales at €297m, increasing by 2.6% on an organic(1) basis vs. Q1 2024 at €287m
– Sales growth driven by France (+4%) and EMEA (+9%); Positive trend in America (+2%) despite high comparable; Asia still impacted by China network optimization
– Group is back to like-for-like growth (+1.8%)
• Stabilized like-for-like performance in Asia, indicating that the action plan implemented in 2024 is starting to bear fruit
• Continued strict full-price strategy with a three-point decrease in the average discount rate vs. Q1 2024, reflecting brands’ desirability
• Pursuit of network optimisation to reach 1,640 POS
– 22 net closings in the quarter, notably for Claudie Pierlot in Europe, and also in Canada with the closure of HBC corners, which are expected to be replaced by a new local partnership
– Several key openings through partnerships in new markets such as India and the Balkans

(1) Organic growth | All references in this document to the “organic sales performance” refer to the performance of the Group at constant currency and scope