×
334
Fashion Jobs
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Jharkhand All District)
Permanent · Chatra
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager /Sales Manager (up)
Permanent · Mirzapur
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - wb
Permanent · Cooch Behar
SUGUNA FOODS PRIVATE LIMITED
Area Sales Manager-Animal Health Products Sales (Bangalore)
Permanent · Bengaluru
MUTHOOT FINCORP LTD
Area Manager - Chennai
Permanent · Chennai
SUGUNA FOODS PRIVATE LIMITED
Area Sales Manager-Animal Health Products Sales (Bangalore)
Permanent · Bengaluru
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Katihar
VIJAY SYSTEMS ENGINEERS PVT LTD ( UMBERGOAN)
Production Manager
Permanent · Vapi
VIDVAS HR SOLUTIONS PRIVATE LIMITED
sr Manager - Production . Only Leather Bags Exp - Chennai
Permanent · Chennai
SHREE SADGURU MASALA & SPICES IND PVT LTD
Regional Sales Manager
Permanent · Navi Mumbai
MAGNATEK ENTERPRISES
Looking For Area Sales Manager
Permanent · Chennai
BANDHAN LIFE SCIENCE PRIVATE LIMITED
Area Sales Manager
Permanent · Kolkata
WINGS PHARMACEUTICALS
Area Sales Manager - Generic Division
Permanent · Ludhiana
FIRST SOLUTION
Agency Development Manager/Recruitment Development Manager(Insurance)
Permanent · Pune
NCL INDUSTRIES LIMITED (BISON PANEL)
Area Sales Manager - Hyderabad (Boards Division)
Permanent · Hyderabad
LN GLOBAL CAREER SERVICES LLP
Required Regional Sales Manager For Pharmaceutical Company
Permanent · Chennai
LN GLOBAL CAREER SERVICES LLP
Required Zonal Sales Manager For Pharmaceutical Company
Permanent · Chennai
LEVI'S
Group Product Manager
Permanent · Bengaluru
AVENUE SUPERMARTS LIMITED
Excellent Opportunity With Dmart _ Production Managers
Permanent · Chikmagalur
ENOAH I SOLUTION INDIA PRIVATE LIMITED
Area Sales Manager
Permanent · Bengaluru
KISHOR EXPORTS
Garment Technician
Permanent · Agra
CENTURY PLYBOARDS (I) LIMITED
Area Sales Manager - Delhi / Ghaziabad
Permanent · Ghaziabad
Translated by
Nicola Mira
Published
Oct 20, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

SMCP's stock market flotation fulfils expectations

Translated by
Nicola Mira
Published
Oct 20, 2017

On the morning of Friday 20th October, French fashion group Sandro, Maje, Claudie Pierlot (SMCP) received the green light for its listing on Paris' Euronext stock exchange. It was a positive start for SMCP: thanks to strong demand by French and foreign investors, the group was eventually able to price its IPO at €22 per share, consistent with the initial objective of €20-25 per share.


Autumn-Winter 2017 collection - Sandro


As a result, SMCP's market capitalisation reaches €1.7 billion, and the group's valuation is estimated at €2.01 billion, again consistent with expectations, making this the second largest flotation on Euronext in 2017. The IPO's global value is €541 million, and it could rise to €623 million should the over-allotment option be fully exercised.

Through the IPO, which until 23rd October takes the form of a share pledge, SMCP will complete a fund-raising round of €127 million in new shares, chiefly designed to reduce the group's financial debt. Adding the sale of the remaining stake held by US investment fund KKR (about 10%), of part of the stake held by the group's Chinese majority shareholder Shandong Ruyi, and of a smaller stake held by SMCP's directors, the free float will be equivalent to 33.1% of the capital.

As planned, the group's owner will hold a majority stake, in the region of 60.3% of the stock, while founders Evelyne Chétrite, Judith Milgrom and Ilan Chétrite, will hold just under 5% between them. As for SMCP's directors, including CEO Daniel Lalonde, they will altogether hold just under 2% of the stock. 

"We are delighted with the success of SMCP's stock exchange listing," said Daniel Lalonde. “A new chapter in the group's prodigious growth story is starting today, heralding more of the same. The highly positive welcome we received is proof of how attractive our brands are, and of the confidence investors have in the development model and growth prospects of SMCP," added Lalonde. 

Evelyne Chétrite, founder of Sandro, stated she is "very proud of the work done with my sister Judith, my son Ilan and the entire staff at SMCP, work which today has acquired new impetus thanks to the stock market flotation."

SMCP's extraordinary growth continues unabated, just ten years after the merger of the two founding sisters' labels, Sandro and Maje, and before they were joined by Claudie Pierlot. When the group was sold to L Capital and Florac in 2010, it was valued at €200 million, a figure which rose to €650 million when it was sold to KKR in 2013, then to €1.3 billion when it was sold to Shandong Ruyi in 2015, and reached €2 billion for its stock market flotation on 20th October 2017.

Copyright © 2021 FashionNetwork.com All rights reserved.