SMCP to acquire French men's brand De Fursac
SMCP, the parent of Sandro, Male and Claudie Pierlot, has entered into exclusive talks to acquire French accessible luxury menswear brand De Fursac.
The move would strengthen the group's foothold in the men's accessible luxury market where it is already making progress with Sandro menswear. The deal is expected to close during the third quarter of this year.
“With De Fursac in our Group, we have a unique opportunity to accelerate our strategy, by tapping into a new segment in the fast-growing men’s accessible luxury market. We look forward to working with the talented teams of De Fursac, on our journey to become the global leader of accessible luxury and to continuing to create value for our shareholders," said SMCP chief executive Daniel Lalonde.
De Fursac was founded in 1973 and operates 54 stores across 29 cities in France and Switzerland. It is known for its tailoring and recorded sales of €41.4m in 2018.