Shandong Ruyi seeks to take over SMCP SAS
January 25, 2016 Category Mergers & Acquisitions, Weekly
Textile producer Shandong Ruyi Group is believed to be in take-over talks with SMCP SAS, the owner of French fashion brands Sandro, Maje and Claudie Pierlot. Bloomberg said the clothing group could be worth more than USD1 billion. With more than 1,000 stores in 34 countries, SMCP is adding shops in Hong Kong and seeking opportunities to expand in the Chinese mainland, CEO Daniel Lalonde said last year. In the first half of 2015, it added 12 outlets in Asia. Sales in 2015 were up 32% on 2014, reaching €316 million and online sales doubled. KKR bought a 65% of SMCP from L Capital, a private equity firm backed by LVMH Moet Hennessy Louis Vuitton but is now seeking to sell its stake. Based in eastern China, Shandong Ruyi has annual sales of more than CNY30 billion. It has invested in clothing companies, including Tokyo-based Renown, which sells the Aquascutum and D’urban brands in Japan, the China Daily reports.
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