Chinese textile major Shandong Ruyi Technology Group has completed the acquisition of a controlling stake in SMCP, marketer and retailer of three luxury fashion brands. Private equity firm KKR and the founders of SMCP will retain a minority stake in the French company. Shandong will retain the design and creative SMCP teams as well as the Paris headquarters.
SMCP, which has brands like Sandro, Maje and Claudie Pierlot in its portfolio, reported a 19.2 per cent year over year sales growth in the first half of 2016.Chinese textile major Shandong Ruyi Technology Group has completed the acquisition of a controlling stake in SMCP, marketer and retailer of three luxury fashion brands. Private equity firm KKR and the founders of SMCP will retain a minority stake in the French company. Shandong will retain the design and creative SMCP teams as well as the Paris headquarters.#
Shandong Ruyi Group is one of the largest textile manufacturers in China and ranks among the top 100 Chinese multinational companies, operating 13 domestic industrial parks. It also has a significant distribution and point of sales network spread across six different continents.
SMCP operates 1,118 point of sales, of which 906 are directly operated and 212 are operated through partnerships and its brands are present in 33 countries. (AR)
Fibre2Fashion News Desk – India
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