SMCP news and archive

SMCP secures victory in Singapore over share dispute

A Singapore High Court has ruled for a shareholder of SMCP to return its stake in the French luxury group to its majority owners. Dynamic Treasure Group Ltd (DTG) has been ordered to return its 15.5 percent stake in SMCP to European TopSoho (ETS), which had defaulted on its bonds in 2021, passing the majority shareholding to a consortium of...

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Chinese shareholders of SMCP fined 1.7 million euros

Paris - Amidst an exceptional governance crisis, the Chinese shareholders of French fashion group SMCP (Sandro, Maje, Claudie Pierlot) were fined a total of 1.7 million euros by the French Financial Markets Authority (AMF), according to a statement released on Thursday, June 12, 2025. "In its decision of June 10, 2025, the Sanctions Committee...

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SMCP sales increase in first quarter, except in asia

The sales of the ready-to-wear group SMCP, parent company of the brands Sandro, Maje, Claudie Pierlot and Fursac, increased by 3.4 percent year-on-year in the first quarter, to 297 million euros, progressing in all geographical areas except Asia. Isabelle Guichot, chief executive officer of the group, highlighted “a complex and volatile...

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SMCP appoints new CEO of Asian business

French fashion conglomerate SMCP Group has named Kleine Tan as the new chief executive officer for its Asian business. He succeeds Jimmy Lam, who is stepping down from the role to “pursue new opportunities outside of the group”, a press release said. Tan, who took up the position from April 1, joins SMCP from LVMH, where he most recently served...

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SMCP fashion group falls into the red, weighed down by China

The fashion group SMCP (Sandro, Maje, Claudie Pierlot and Fursac) reported a net loss of more than 23 million euros in 2024 due to poor performance in the Chinese market, and despite improvement in the second half of the year. In 2023, its net profit was 11 million euros, compared to 51 million euros in 2022. In 2024, meanwhile, the group's...

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SMCP founders and executives hold 10.3 percent of the capital after the conversion of preferred shares

Paris - Around a hundred "executive and managerial executives" of SMCP (Sandro, Maje, Claudie Pierlot), including its founders Evelyne and Ilan Chétrite and Judith Milgrom, hold 10.3 percent of the capital of the textile group following a conversion of preferred shares, according to a press release on Friday. Between 2016 and 2017, the group,...

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French group SMCP keeps turnover almost the same in third quarter

French fashion group saw its turnover fall by 0.8 percent in the third quarter. After a dip in turnover in the previous quarters of the financial year, turnover in the third quarter remains virtually the same, according to the financial update. Turnover amounts to 292.6 million euros. The brands Maje and Sandro both show a modest plus in the...

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SMCP names new president and CEO of North America

SMCP Group, the Parisian retail group that includes Sandro, Maje, Claudie Pierlot and Fursac, has named Ida Simonsen president and chief executive of SMCP North America. Simonsen joins from Stella McCartney, where she has served as president of the Americas for over 12 years, playing a crucial role in expanding the British brand’s retail and...

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SMCP secures distribution deals in Philippines and Indonesia

SMCP has announced the signing of two new distribution deals in the Philippines and Indonesia, countries the company said were “key drivers of development and influence, with strong economic growth and a flourishing middle class”. SSI Group will take over the distribution of SMCP brands in the Philippines, while Map Group will oversee...

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China hits SMCP as it falls into the red for H1

Textile group SMCP (Sandro, Maje, Claudie Pierlot and Fursac) posted a net loss of 27.7 million euros in the first half on Thursday, after a net profit of 14 million a year earlier, while its half-year sales fell by 4% to 585.3 million euros. The net result would have been "balanced" without 30 million euros of accounting effects, including...

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UK court halts transfer of shares at SMCP

A significant development has occurred in the SMCP case, the company overseeing Sandro, Maje, Claudie Pierlot and Fursac. The British High Court has invalidated the sale of a 15.9 percent stake in the French ready-to-wear company, initially sold to Dynamic Treasure Group, an entity linked to the founder of Shandong Ruyi, the former owner of...

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SMCP targets returning to growth by 2026

SMCP, parent company of the Sandro, Maje and Claudie Pierlot and Fursac brands, reported first quarter sales at 287 million euros, down 5 percent on an organic basis. The company continued to optimise its store network with 11 net closings during the quarter, mainly in Asia to reach 1,719 points of sales worldwide. The company will close 100...