JAJ Group: Stable Revenue in the First Half, France Offsets Export Decline
JAJ Group reported revenue of €15.01 million for the first half of its 2026/2027 financial year (1 April to 30 September), down 0.2%, or €28 thousand less than a year earlier. This near-stability reflects two opposing trends: sales in France rose 8.4% to €11.36 million, while exports fell 19.9% to €3.65 million.
The company, which operates the Schott and Rivieras brands, attributes this stagnation mainly to delivery delays for winter merchandise. According to the company, approximately €1 million could not be invoiced during the period and will be invoiced in the second half.
Exports Down 19.9%, France Almost Offsets the Decline
The decline in exports was concentrated in the first quarter. International sales fell 48.2% between April and June, to €879 thousand compared with €1.70 million a year earlier. In the second quarter, the decline narrowed to 3.1%, to €2.77 million compared with €2.86 million.
France moved in the opposite direction. Its sales rose 20.3% in the first quarter, to €4.06 million, then 2.7% in the second, to €7.30 million. Over the half-year, the increase in France (approximately €880 thousand) almost offsets the decline in exports (approximately €908 thousand).
JAJ Group explains that the delivery delays were caused by logistical disruptions linked to the conflict in Iran. Without this effect, the company indicates that revenue growth would have reached 7% year-on-year.
Several Zones and Stores Up, Consolidated Exports Down
The company highlights growth in several zones, across all brands: 152% in Switzerland, 69% for the combined Poland, Slovakia and Lithuania zone, and 61% for the combined Greece, Cyprus and Malta zone. These zone-level increases coexist with the 19.9% decline in exports across the group.
In its own retail network, the Schott store in Saint-Germain-en-Laye recorded a 42% increase, the Debelleyme store rose 10%, and the Rivieras store on Turenne rose 2%. Websites grew 4% over the half-year.
The group describes an environment marked by a market that is “still under pressure,” pressure on purchasing power, lower store traffic, and very high temperatures in September. It also recalls that the first half of the previous financial year had grown 27%.
Second Quarter Up 1.1%, Target of Stable Annual Revenue
At group level, revenue fell 2.6% in the first quarter, to €4.94 million, before rising 1.1% in the second, to €10.07 million. For the 2026/2027 financial year as a whole, management indicates it expects “stable revenue” compared with the previous financial year.
The group continues to develop its network. Three Schott outlet stores recently opened in Lyon, Troyes and Roubaix, a Schott pop-up is planned at the Lyon La Part-Dieu shopping center, and franchise openings are underway. Rivieras opened a pop-up this summer within the new Printemps store in New York.
The Schott and Rivieras webstores remain presented as the priority development axis, alongside partnerships with online resellers, independent retailers and major European department stores. On the environmental front, the group obtained an €85 thousand grant from ADEME for an eco-socio-design study.
The half-year thus ends on a turning point: the decline in exports, concentrated in the first quarter, narrowed markedly in the second, while growth in France slowed over the same period.
