Read on FashionNetwork.comSMCP Announces Sale of 51.2% Share Capital to Stabilize Ownership Structure
French fashion group SMCP, parent company of popular brands Sandro, Maje, Claudie Pierlot and Fursac, has announced the sale of up to 51.2% of its share capital in a process expected to take several months. This move follows the recent return of a 15.5% stake that had been improperly transferred to a British Virgin Islands trust by its former Chinese shareholder. The sale aims to stabilize the company's ownership structure and allow management to focus on strategic development initiatives across its global operations spanning 49 countries.
French fashion conglomerate SMCP has taken a significant step toward resolving its long-standing ownership challenges by announcing the sale of shares representing up to 51.2% of its share capital. The parent company of renowned fashion brands Sandro, Maje, Claudie Pierlot, and Fursac disclosed on Thursday that this comprehensive ownership restructuring process is expected to unfold over "several months" and could ultimately enable the group to "stabilise its shareholding structure."
Background of Ownership Challenges
The current sale initiative represents the culmination of several years of complex legal and financial maneuvers involving SMCP's ownership structure. According to the company's announcement, this process follows the forced return in August 2025 of a 15.5% stake in SMCP's capital that had been improperly transferred to a trust based in the British Virgin Islands. This transfer was orchestrated by the group's former Chinese shareholder, which had defaulted on its obligations back in 2021.
Current Ownership Distribution
SMCP's current capital structure comprises several distinct components. The 51.2% being offered for sale includes the 15.5% stake recently returned from the British Virgin Islands trust, plus the 28% stake held by Glas (the entity representing creditors), and an additional 8% stake held by European Topsoho (ETS). The remaining capital consists of 40.4% free float traded on public markets, 7.7% held by founders and employees, and 0.6% held as treasury shares.
Strategic Implications and Requirements
The successful sale of this 51.2% stake would grant the purchaser effective control of SMCP, as they would hold 50.7% of the group's voting rights. Importantly, SMCP noted that should the sale represent "more than 30% of the company's share capital, the purchaser of this block could be required to file a draft public tender offer for all SMCP shares." This regulatory requirement underscores the significance of the transaction and its potential impact on all shareholders.
Company Performance and Market Position
Under the leadership of CEO Isabelle Guichot, SMCP has demonstrated resilient performance despite ownership uncertainties. The group generated revenue of €1.212 billion in 2024 and reported a 2.8% sales increase to €896 million for the first nine months of 2025. With 1,651 points of sale worldwide and a presence in 49 countries, SMCP has successfully expanded its international footprint, with 65% of its business now generated outside France. The company's flagship brands Sandro and Maje drive 88% of total business.
The announcement represents a pivotal moment for SMCP as it seeks to resolve years of ownership instability. While the company has emphasized that "there is no certainty that this process will be successful," the potential stabilization of its shareholding structure would allow management to focus more intently on pursuing the group's development strategy in the competitive accessible luxury segment. With a current market valuation exceeding €450 million, the fashion group remains an attractive proposition for potential investors seeking exposure to the French fashion industry's global appeal.
