Paris - Mayer Brown advised the management of SMCP group in connection with the initial public offering (“IPO”) of the group for the admission to trading of its shares on the regulated market of Euronext Paris (Compartment A). On 6th October 2017, the Autorité des marchés financiers (“AMF”) granted visa on the prospectus and the total offer amounts around € 623 million, including a € 127 million capital increase. Today is the first day of trading.
The company is currently controlled by Chinese group Shandong Ruyi. After completion of the IPO, Shandong Ruyi will keep around 55% of the stock capital and around 38% will remain as the free float for trading (in case of exercise of the over-allotment option).
SMCP is a key international player in the global apparel and accessories market consisting of three strong Paris-designed brands: Sandro, Maje and Claudie Pierlot,.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 was founded in 1984 by Madame Claudie Pierlot, and acquired by SMCP in 2009. They share the mission of spreading Parisian chic across the world. SMCP’s business model that blends the codes of luxury and fast fashion has allowed the group to deliver powerful results. With net sales reaching €786 million in 2016, averaging a 27% increase per year since 2010, SMCP has recorded strong growth in the past few years and excellent results in 2016. It is now present in 36 countries through more than 1,200 retail outlets.
Mayer Brown lawyers in Paris advised the management of Maje Claudie Pierlot group on a large variety of legal and tax aspects, including the release of a 2016 investment related to its take-over by Shandong Ruyi and the setting up of a new incentive plan for the management in the context of this IPO.
The team included: Corporate & Securities – partner Jean-François Louit, counsel Caroline Lan, associates Pierre-Guillaume Sagnol, François Bossé-Cohic and Guimei Li (all Paris); Tax Transactions & Consulting - partners Laurent Borey and Christopher Lalloz and associate Nicolas Danan (all Paris), partner James Williams (Chicago).partner James Hill and senior associate Kitty Swanson (London), partner Pieter de Ridder (Singapore), and partner Volker Junge and counsel Susan Günther (both Frankfurt).