SMCP Founders Initiate Major Share Buyback Program
In a significant move showcasing their trust and confidence in the future of SMCP, the founders Mrs. Evelyne Chétrite, Mrs. Judith Milgrom, and Mr. Ilan Chétrite, have initiated an independent investment service to manage a buyback of SMCP shares. This commitment demonstrates their unwavering belief in the company's growth potential.
Details of the Share Buyback
As per the mandates established on a recent date, the Founders aim to repurchase up to 675,000 shares, with each founder targeting 225,000 shares. This initiative is set to conclude by the end of the year, marking a clear indication of their intent to reinforce ownership and bolster shareholder confidence.
The Founders' Vision
The SMCP founders have a long-standing history of shaping the fashion industry with their distinctive brands. Mrs. Chétrite and Mrs. Milgrom initially launched Sandro and Maje in Paris, becoming iconic names in accessible luxury fashion. Through their buyback effort, they intend to further solidify their brands' market positions and showcase a long-term commitment to their stakeholders.
About SMCP
SMCP is renowned as a global leader in the accessible luxury sector, representing four distinct Parisian brands: Sandro, Maje, Claudie Pierlot, and Fursac. With an impressive presence across 49 countries, the company operates over 1,600 retail locations and maintains a robust digital footprint. Under the guidance of CEO Isabelle Guichot, SMCP continues to innovate and extend its influence in the luxury market.
Expanding Portfolio
Founded in 1984 and 1998, respectively, Sandro and Maje continue to evolve under the creative direction of Evelyne Chetrite and Judith Milgrom. The subsequent acquisitions of Claudie Pierlot in 2009 and Fursac in 2019 have only served to enrich SMCP's portfolio, diversifying its brand offerings and expanding its market reach. This strategic approach positions SMCP as a formidable competitor in the luxury fashion space.
Investor Relations and Contact Information
For investors and media inquiries, SMCP maintains open lines of communication through its dedicated contacts:
SMCP Contacts:
Amélie Dernis
Phone: +33 (0) 1 55 80 51 00
Email: amelie.dernis@smcp.com
Brunswick Group:
Hugues Boëton: +33 6 79 99 27 15
Tristan Roquet Montegon: +33 6 37 00 52 57
Email: smcp@brunswickgroup.com
Frequently Asked Questions
What is the purpose of the share buyback program?
The share buyback program is intended to reinforce the founders' confidence in SMCP's future and increase shareholder value.
How many shares are being repurchased?
The founders aim to repurchase a total of up to 675,000 shares, with each founder purchasing 225,000 shares.
What brands are under the SMCP umbrella?
SMCP includes four prominent brands: Sandro, Maje, Claudie Pierlot, and Fursac, each known for their unique styles and contributions to the luxury market.
Who is the CEO of SMCP?
Isabelle Guichot serves as the CEO of SMCP, leading the company's strategic direction and initiatives.
Where can I find more contact information for SMCP?
Contact information for SMCP can be found in the investor relations section, where key contacts and their details are provided for inquiries.
