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SMCP to acquire men's luxury brand De Fursac

By Prachi Singh

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Report

SMCP, the parent company of Sandro, Maje and Claudie Pierlot has announced that it is in exclusive negotiations to acquire De Fursac, a French leader in men’s accessible luxury. The company said in a statement that with this acquisition, SMCP would strengthen its footprint in the fast-growing menswear accessible luxury market, where it is already developing successfully through Sandro men, and would gain access to a new segment. The transaction is expected to close before the end of third quarter of 2019.

Commenting on the development, Daniel Lalonde, SMCP’s Chief Executive Officer, said: “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. We look forward to working with the talented teams of De Fursac, on our journey to become the global leader of accessible luxury and to continuing to create value for our shareholders.”

Founded in 1973 and with a strong Parisian DNA, De Fursac operates a network of 54 stores across 29 cities in France and Switzerland. Known for its expertise in tailoring with an edgy and a timeless style, in 2018, De Fursac’s sales reached 41.4 million euros with like-for-like sales growth of 5.4 percent and an EBITDA margin above SMCP’s margin.

“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,” added Edmond Cohen, President of De Fursac.

Picture:Facebook/De Fursac

De Fursac
SMCP