SMCP Announces Strategic Share Buyback Initiative
SMCP’s Strategic Share Buyback Program
In a significant move aimed at strengthening its employee incentive strategies, SMCP's Board of Directors has taken a proactive step toward implementing a share buyback program. Authorized by the shareholders during the recent General Meeting, this initiative reflects the company's commitment to its workforce.
Details of the Share Buyback Initiative
On March 25, 2025, the Board resolved to grant an irrevocable mandate to an investment services provider. This decision authorizes the repurchase of shares starting from March 28, 2025, and continuing until June 30, 2025. The company has set a cap on the buyback, allowing for a maximum of 400,000 shares to be repurchased at a price not exceeding what was established in the earlier meeting. This structured approach ensures that the buyback aligns with both market conditions and shareholder expectations.
Purpose Behind the Buyback
The shares acquired through this program are specifically intended to support the Group's long-term incentive plan for its employees. By doing this, SMCP aims to enhance employee motivation and retention, thus fostering a culture of commitment and loyalty within the organization.
About SMCP
SMCP stands as a beacon in the accessible luxury market, championing a portfolio of four renowned Parisian brands: Sandro, Maje, Claudie Pierlot, and Fursac. The Group boasts a remarkable presence across 50 countries, led by CEO Isabelle Guichot. With over 1,600 retail outlets and a robust online presence, SMCP continues to expand its global footprint. The creative minds behind Sandro and Maje—Evelyne Chetrite and Judith Milgrom—have been pivotal since their founding in 1984 and 1998. The acquisitions of Claudie Pierlot and Fursac in 2009 and 2019 respectively have further solidified SMCP’s leadership in the luxury fashion sector. SMCP is proudly traded on Euronext Paris under the ticker symbol SMCP.
Investor and Media Relations
For inquiries regarding investor relations or press matters, SMCP provides multiple points of contact. Amélie Dernis represents the company, alongside Hugues Boëton and Tristan Roquet Montegon from Brunswick Group, who are available to address any pressing concerns or media requests.
Key Contacts
Amélie Dernis can be reached at +33 (0) 1 55 80 51 00 or via email at amelie.dernis@smcp.com. For additional media inquiries or investor information, contact Hugues Boëton at +33 6 79 99 27 15 or email smcp@brunswickgroup.com.
Frequently Asked Questions
What is the purpose of SMCP's share buyback program?
The share buyback program is designed to support the long-term incentive plan for the Group's employees, enhancing motivation and retention.
When will the share buyback take place?
The buyback will commence on March 28, 2025, and continue until June 30, 2025.
How many shares will SMCP repurchase?
SMCP plans to repurchase a maximum of 400,000 shares during this buyback period.
What are the benefits of the buyback to shareholders?
The buyback can potentially increase the value of remaining shares and demonstrates SMCP's confidence in its business strategy and financial health.
Where can I find more information about SMCP?
Additional information about SMCP can be accessed through investor relations channels or by contacting the company's press representatives directly.
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