Apr 18, 2013
KKR takes controlling stake in Sandro, Maje and Claudie Pierlot
Apr 18, 2013
American investment fund KKR has confirmed that it has acquired a controlling stake in SMCP, the group that owns French brands Sandro, Maje and Claudie Pierlot.
KKR have taken 65% stake in the group, with top management at SMCP keeping the remaining 35%. Exact figures of the deal were not disclosed. Evelyne Chétrite, president of SMCP, has said that her ambition is to create a “global leader in the affordable luxury segment”. Launched in 2010, the affordable luxury brand was put up for sale in September 2012, two years after L Capital (LVMH) took a stake in the company. The company has opened 69 points of sale in North America in just 18 months, has five store in Hong Kong and will be opening a further two boutiques in Shanghai in July.
Copyright © 2022 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.