Press release - Paris, February 4, 2021
Implementation of a share buyback program
At its meeting on December 17, 2020, the board of Directors of SMCP decided, in accordance with the 18th resolution approved by the Shareholders’ Meeting on June 4, 2020, to authorize the Group to implement a share buyback program.
In accordance with this authorization, a mandate was granted to an investment services provider to purchase from February 4, 2021 and for a period ending on April 2, 2021 a maximum of 415 000 shares (corresponding to 0.55% of SMCP’s share capital) for a purchase price that cannot exceed the maximum price set by the 18th resolution.
The purpose of the share buyback program is to cover its long-term incentive programs (LTIP), as was the case for the first share buyback program carried out in the second half of 2019.
SMCP is a global leader in the accessible luxury market with four unique Parisian brands: Sandro, Maje, Claudie Pierlot and De Fursac. Present in 41 countries, SMCP generated nearly 900 million of sales in 2020. The Group comprises a network of over 1,600 stores globally plus a strong digital presence in all its key markets. Evelyne Chetrite and Judith Milgrom founded Sandro and Maje in Paris, in 1984 and 1998 respectively, and continue to provide creative direction for the brands. Claudie Pierlot and De Fursac were respectively acquired by SMCP in 2009 and 2019. SMCP is listed on the Euronext Paris regulated market (compartment A, ISIN Code FR0013214145, ticker: SMCP).
Célia d’Everlange Hugues Boëton
Tristan Roquet Montegon