PARIS — SMCP has named Ida Simonsen as president and chief executive officer for North America, effective immediately.
Simonsen, previously president at Stella McCartney, joins a French group that houses contemporary brands Sandro, Maje, Claudie Pierlot and Fursac. Simonsen had been at the McCartney company since 2012, and previously held roles at Marni and Dries Van Noten.
Simonsen will succeed Paul Griffin, who is leaving the group.
“Ida’s dynamic leadership, extensive industry expertise, and passion for people make her the perfect fit to lead our North American team. She has a proven track record of successfully navigating transitions and driving growth, and I am confident that she will inspire our teams and help us achieve new milestones in the region,” SMCP chief executive officer Isabelle Guichot said, disclosing the hire exclusively with WWD.
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“I am eager to collaborate with the talented teams across the group to continue growing our brands and strengthening their presence in the North American market,” Simonsen said. “I would like to thank Isabelle Guichot and the rest of the SMCP board for the trust they have placed in me as we embark on this exciting new chapter together.”
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Simonsen was key in building the Stella McCartney brand in the key North America region and helped expand its retail and wholesale presence in the U.S., Canada and Mexico.
Simonsen also helped guide Stella McCartney through its shareholder transition, when McCartney exercised her option to buy back Kering’s 50 percent stake in her brand in 2018, then sold a minority stake to LVMH Moët Hennessy Louis Vuitton a year later.
SMCP is in the process of restructuring its operations and global network balance. It is looking to grow its business in new territories including India, Indonesia and the Philippines after retreating from China following several quarters of declining sales there. The SMCP group operates about 1,600 stores in 46 countries.
Business in the U.S., Canada and Mexico has been stronger, with sales up nearly 9 percent in first-quarter results reported earlier this year. It is expanding its footprint in the region, including opening a new Sandro store in Montreal later this month.
SMCP itself is undergoing a shareholder change. Holding company Glas, which is serving as the trustee for creditors including funds BlackRock, Carlyle, Anchorage, Boussard and Gavaudan, was just given the green light to sell its shares by the London High Court.
The anticipated Glas sale would position SMCP as ripe for a potential takeover bid.