SMCP - Evolution of SMCP’s governance

Press release - Paris, August 2^nd, 2021

Evolution of SMCP’s governance
Departure of Mr Daniel Lalonde and appointment of Mrs Isabelle Guichot as Group CEO

SMCP’s Board of Directors has received the resignation of Daniel Lalonde, who has decided to pursue new professional opportunities outside the Group. As a result, SMCP’s Board has appointed Isabelle Guichot as Group CEO and director, effective August 2, 2021. Isabelle joined the Group as CEO of Maje in September 2017 and has since then successfully grown the brand while demonstrating continuously her business and leadership skills. Daniel Lalonde will ensure a transition period with Isabelle Guichot and will leave the Group by October 2021. SMCP’s Board has tasked its Nomination and Compensation Committee to perform, alongside Isabelle Guichot and Judith Milgrom, the search for a successor to Isabelle as CEO of Maje.

The Board would like to thank Daniel Lalonde for the great work he accomplished over the past eight years, and more recently his strong leadership and commitment during the pandemic. The Board also reaffirms its intention to pursue the Group’s strategic plan (“One Journey”) that combines a stronger focus on brand attractiveness, a phygital expansion, a strengthened platform and a reinforced commitment to sustainability.

Isabelle Guichot joined SMCP as CEO of Maje in September 2017 after more than 25 years of a highly successful and recognized career in the luxury sector, within Kering and Richemont. Before joining SMCP, Isabelle was notably CEO of Balenciaga for 9 years, after being CEO at Sergio Rossi. Prior to Kering, Isabelle has evolved within the Richemont Group, as CEO of Van Cleef & Arpels then Lancel, after starting her career within Cartier, where she spent 13 years in different management positions. Isabelle is a graduate of HEC. She has successfully developed many Houses to which she has brought her strong vision and her excellent sense of business and customer orientation. Her passion for retail and fashion and her fine knowledge of the SMCP environment and platform, strategy and Brands, as well as her international exposure in the luxury sector, make her the natural successor of Daniel Lalonde.

On this occasion, Yafu Qiu, Chairman of the Board, stated: “On behalf of the Board, I would like to thank Daniel for his considerable achievements in developing SMCP and its amazing brands across the globe, over the last eight years. SMCP has become under his leadership a global leader in the accessible luxury segment. I am confident that Isabelle is the right person with the right experience to take the head of the Group. All of SMCP’s teams have gone above and beyond in their work, especially over the past months, and we are convinced we have the right strategic plan to navigate these challenging times and that we are ideally positioned to come out of the crisis stronger than ever.”

Evelyne Chétrite, Judith Milgrom and Ilan Chétrite, deputy General Managers of SMCP and Founders and respective Artistic Directors of Sandro women, Maje and Sandro men, said: “We would like to thank Daniel for these wonderful eight years. Together, we wrote numerous chapters of SMCP’s history, including the international expansion of our amazing brands, the Group’s successful IPO and the arrival of a new brand in the SMCP family. We wish Daniel all the best in this new adventure. We are happy to appoint a talent of the Group to replace him and look forward to continue to work closely with Isabelle to pursue SMCP’s strategy and to spread Parisian chic across the world.”

Isabelle Guichot, CEO of SMCP added: “I would like to thank the Board for the confidence it has placed in me to lead the Group and confront new challenges with the support of all SMCP’s teams. As we have done under Daniel’s leadership, together with the Executive Committee, we will be aiming at delivering our strategic roadmap while addressing the current challenges of our industry to strengthen our leadership in the affordable luxury and fulfilling our client’s expectation in a world becoming every day more global, digital, and responsible. We have amazing brands and experienced, motivated and focused teams to reach our ambition.”

ABOUT SMCP

SMCP is a global leader in the accessible luxury market with four unique Parisian brands: Sandro, Maje, Claudie Pierlot and Fursac. Present in 41 countries, the Group comprises a network of over 1,600 stores globally and a strong digital presence in all its key markets. Evelyne Chétrite 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 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).

CONTACTS

INVESTORS/PRESS                                            PRESS

SMCP                                                                                         BRUNSWICK

Mathilde Magnan                                                                   Hugues Boëton

+33 (0) 1 55 80 51 00                                                          +33 (0) 6 79 99 27 15                                                           

mathilde.magnan@smcp.com                                          smcp@brunswickgroup.com       

Attachment

• Press release - SMCP - Governance change