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: Jens Mahnke from Pexels

Textiles | On 22nd Oct 2018

India levies anti-dumping duty on flax yarn from China

The ministry of finance, Government of India, has imposed definitive...

Courtesy: Donear

Textiles | On 22nd Oct 2018

Aspiring middle class shaping menswear fabric trend

The key trends shaping menswear fabric include a new middle class and ...

Belarusian petrochem firms sign contracts with Russia

Textiles | On 22nd Oct 2018

Belarusian petrochem firms sign contracts with Russia

Belarus recently signed contracts worth nearly RUB 12 billion for...

Interviews View All

Kamlesh Vaghela, RK Textiles

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Vasanth Kumar, Max Fashion India

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Veronique Lee, Modavanti

Veronique Lee
Modavanti

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

Maya Simova,

Maya Simova

Inter Expo and Congress Center (IEC) is a prominent exhibition centre in...

Paolo Crespi,

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

Leave your Comments


October 2018

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

news category


Related Categories:

Advanced Search