Smcp Sa · EURONEXT:SMCP
Smcp Sa — Merger or Acquisition (June 2019)
14 slides from Smcp Sa's merger presentation, June 2019
Slide 1: Acquisition of a French leader in men accessible luxury, poised for international expansion
Acquisition of a French leader in men accessible luxury, poised for international expansion
Slide 2: Certain information contained in this document may include projections and forecasts. These projections and
Certain information contained in this document may include projections and forecasts. These projections and forecasts are based on SMCP management's current views and assumptions. Such statements are not guarantees of future performance of the Group. Actual results or performances may differ materia
Slide 3: SMCP - 10 years of successful organic growth, developing robust platform ready to integrate an acquisition
SMCP - 10 years of successful organic growth, developing robust platform ready to integrate an acquisition X 5 912 1,017 Sales (€m) since 2010 786 675 509 417 339 260 188 2010 2011 2012 2013 2014 2015 2016 2017 2018 % international: 28% 34% 42% 50% 54% 59% 63% % digital sales: 2% 3% 3% 6% 10% 12% 15
Slide 4: Contemplated transaction overview
Contemplated transaction overview De Fursac at a glance Strategic rationale: perfect move for SMCP, generating strong value Key parameters and next steps 4
Slide 5: Contemplated transaction
Contemplated transaction Overview o Acquisition of 100% of De Fursac, a French leader in men’s accessible luxury, poised for international expansion o Accelerate SMCP strategic roadmap, reinforcing menswear, one of the most attractive markets Rationale o Expand offer by entering new segment in men’s
Slide 6: De Fursac at a glance: a French leader in men's accessible luxury
De Fursac at a glance: a French leader in men’s accessible luxury Half-Century of history Prime store locations Leader in French department stores • Founded in 1973 and acquired by E. Cohen in 1990 (CEO) o Consistently in Top 3 in all French • Artistic Director: Alix Le Naour, since 2011 department
Slide 7: De Fursac: Blending tailoring heritage with style, chic and timelessness
De Fursac: Blending tailoring heritage with style, chic and timelessness; strong Parisian DNA L’Homme De Fursac, a plural man Premium Locations DE FURSAC AT A GLANCE A youthful urban man, An elegant & style-conscious man, A connoisseur of tailoring Exclusive Italian fabrics & European manufacturing
Slide 8: Accessible luxury menswear: an attractive segment poised for growth
Accessible luxury menswear: an attractive segment poised for growth Menswear accessible luxury Menswear accessible luxury Broad-based growth A large market A growing market among key regions Sales CAGR Sales CAGR 2018-2022e +4.4% DE FURSAC AT A GLANCE +3.1% +4.8% +3.9% +4.1% More than €21bn Weight 4
Slide 9: Strategic rationale: entering new dynamic segment in menswear: modern tailoring
Strategic rationale: entering new dynamic segment in menswear: “modern tailoring” Accessible Luxury Menswear accessible Luxury Fastest growing segment of fashion market 3 distinct segments CAGR 2018-2022e Level of fashion Urban-Casual Luxury STRATEGIC RATIONAL +4.7% Fashion forward Accessible Luxury
Slide 10: Leveraging SMCP expertise to accelerate De Fursac successful growth
Leveraging SMCP expertise to accelerate De Fursac successful growth 1 2 3 Expand Accelerate Develop geographical footprint digital attractive product categories STRATEGIC RATIONAL >10% % of sales International sales 5% of sales >30% o Develop Europe in key countries o Accelerate organic growth in Fr
Slide 11: SMCP and De Fursac share same business model
SMCP and De Fursac share same business model Blending codes of luxury and fast fashion LUXURY FAST FASHION STRATEGIC RATIONAL ⁄ Creative process ⁄ Fast, agile product cycle ⁄ Prestigious locations ⁄ Newness all the time ⁄ Personalised service ⁄ Scalable retail model ✓ High growth: consistent, qualit
Slide 12: Perfect match: an encounter between passionate entrepreneurs
Perfect match: an encounter between passionate entrepreneurs STRATEGIC RATIONAL Shared values Strong entrepreneurial spirit Creative thinking & innovation Strong family heritage Agile organization and ambitious teams 12
Slide 13: Perfect move for SMCP, aligned with our strategy and generating value
Perfect move for SMCP, aligned with our strategy and generating value Unique opportunity to acquire a French leader with strong desirability, addressing a new customer segment in the fast-growing men’s accessible luxury market SMCP, the ideal platform to accelerate De Fursac’s growth trajectory with
Slide 14: Key parameters and next steps
Key parameters and next steps Key o Acquisition of 100% of the capital parameters o 100% debt-financed (already secured) o Works council consultation & regulatory authorities approval Next steps o Expected closing: before the end of Q3 2019 14