AFP
Apr 18, 2013
KKR takes controlling stake in Sandro, Maje and Claudie Pierlot
AFP
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.
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