The owner of SMCP said on Wednesday it had started legal proceedings against companies serving bondholders it alleged were seeking to take control of the Sandro, Maje and Claudie Pierlot owner at a low price.
Playboy-owned Honey Birdette, the upscale lingerie label, is targeting more UK stores with a focus on London. It wants to secure two new London sites, doubling its presence in the city, after UK sales surged in 2020.
With Topsoho likely unable to repay the €250 million bond debt that matured on Tuesday, its creditors could acquire a 53% stake in Topsoho-owned SMCP, only to perhaps decide to sell it, as FashionNetwork.com has learned.
European Topsoho, owner of the SMCP group and a subsidiary of China's troubled Shandong Ruyi group, seems unable to repay its bond debt maturing on Tuesday, and its creditors might acquire a stake in the company.
Alber Elbaz, who died Saturday, created collections for a half-dozen fashion houses including his own, though it was a 14-year tenure at Lanvin that earned him a place among the Pantheon of great all-time designers.
The private equity firm has taken a majority stake in the digital-native clean beauty brand, an investment that values the Santa Monica, California-based company at $1 billion and sets it up for accelerated growth.