
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.
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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.
French premium fashion retailer SMCP had a good first half with what it called a "strong rebound", its profit on an EBIT and net basis being back in the black.
Big change is coming at SMCP. On Monday, the Sandro, Maje, Claudie Pierlot and Fursac owner named Isabelle Guichot as its new CEO, to replace Daniel Lalonde who’s off to pastures new.
SMCP’s CEO hailed its “strong momentum” globally and its “solid progress” on its One Journey strategic plan on Tuesday as he reported the premium fashion retail giant’s Q2 sales figures.
SMCP issued a first-quarter sales update on Tuesday and it showed that while some markets are bouncing back rapidly, others remain difficult as lockdowns continue
French premium fashion group SMCP did better than expected last year with the Sandro, Maje, Claudie Pierlot and De Fursac owner saying core annual profit beat expectations.
SMCP's full year and final quarter continued to be impacted by lockdowns around the world that drove sales downwards. But digital strength, new stores and a nascent recovery in China are reasons to be cheerful.
French premium fashion retailer SMCP has named LVMH’s Patricia Huyghues Despointes as its new CFO, a key role in normal times but even more so as companies grapple with the finance issues created by the pandemic.
Generating 10% of global sales in China by 2025 is one of the goals set by the SMCP group for its womenswear label Claudie Pierlot, which is being revamped to appeal to a younger clientèle.