SMCP, the owner of Parisian fashion brands Sandro, Maje and Claudie Pierlot, is in talks to acquire French menswear brand De Fursac.
The acquisition would enable SMCP to strengthen its footprint in the men’s ready-to-wear market, where it already operates through Sandro men, as well as giving it access to a new segment in ‘accessible luxury’.
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The transaction, which was announced this morning (25 June), is expected to close before the end of the third quarter and has been unanimously approved by SMCP’s board of directors. The terms of the deal were not disclosed.
“Today’s announcement is an exciting new chapter for SMCP. With De Fursac in our group, we have a unique opportunity to accelerate our strategy, by tapping into a new segment in the fast-growing men’s accessible luxury market,” says Daniel Lalonde, SMCP’s CEO.
“De Fursac is an outstanding brand, poised for growth through international expansion, with the support of our expertise.”
Founded in 1973, De Fursac operates a network of 54 stores in premium locations across 29 cities in France and Switzerland. In 2018, its sales reached EUR41.4m (US$47.1m) with a strong like-for-like sales growth of 5.4% and an EBITDA margin above SMCP’s margin.
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By GlobalDataEdmond Cohen, De Fursac’s president, adds: “I am convinced that SMCP is the ideal partner to support our ambitions and that our talented teams will integrate perfectly into this new group.”
