Home / Knowledge / News / Fashion / Shandong Ruyi acquires luxury brands marketer SMCP
Shandong Ruyi acquires luxury brands marketer SMCP
02
Apr '16
Courtesy: SMCP
Courtesy: SMCP
Shandong Ruyi Technology Group has signed an agreement to acquire a controlling stake in SMCP, a French luxury brands marketer and which owns brands like Sandro, Maje and Claudie Pierlot.

“SMCP's founders and management will stay as minority shareholders, while KKR, a global investment firm, would retain a minority interest in the group,” a Shandong Ruyi press release informed.

Shandong Ruyi said it will invest in SMCP to drive further growth and support the company's global development, including in Asia where it benefits from unique experience and track-record.

Shandong Ruyi Group intends to maintain the DNA and unique identity of the SMCP brands, with SMCP's design and creative teams continuing to operate from its headquarters in Paris.

“SMCP would retain its current strategy and organisational structure, while benefitting from the global retailing expertise of its new shareholder,” the press release added.

Yafu Qiu, chairman of Shandong Ruyi Group said, "We have been highly impressed by the success of Sandro, Maje, and Claudie Pierlot and hold great respect for the founders and management of SMCP.”

“This would be a significant step for Shandong Ruyi Group in our continued endeavour to become a leader in the fully-integrated textiles and fashion business both in China and globally,” he added.

Evelyne Chetrite, founder of SMCP too said, "My sister, Judith Milgrom, and I are delighted to embark on the next phase in the journey of our company alongside Shandong Ruyi Group.”

“Judith and I reaffirm our full commitment to the business and remain focused on our goal of continuing to build the Sandro, Maje and Claudie Pierlot brands and further extending their reach,” Chetrite noted.

Founded in 1972, Shandong Ruyi Technology Group Co. Ltd is one of the largest textile manufacturers in China and ranks among the top 100 Chinese multi-national enterprises.

The group predominately engages in textile offerings and owns a fully-integrated value chain with operations spanning across raw materials cultivation, textiles processing, and design and sale of apparel.

Headquartered in Jining, Shandong, Shandong Ruyi Group operates 13 domestic industrial parks and boasts some of the largest production lines and advanced technology in China.

Shandong Ruyi Group also has a significant distribution and point of sales (POS) network that services a global customer base spread across six different continents.

In Asia Pacific alone, the group operates over 3,000 POS and has over 20 subsidiaries, with two listed subsidiaries in China and Japan. (AR)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: BGMEA

Apparel/Garments | On 27th Feb 2017

'Brands & buyers should help Bangladeshi factory owners'

Brands and buyers should come forward to help factory owners in...

Apparel/Garments | On 27th Feb 2017

Myanmar sets up new committee to revise minimum wage

The Government of Myanmar has set up a new committee, replacing an...

Courtesy: PT Indonesia Taroko Textile

Textiles | On 27th Feb 2017

Taiwan's Lealea to buy Tarako textile plant in Indonesia

Taiwan based textile manufacturer Lealea Enterprise Company, one of...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search