SMCP, owner of brands including Sandro, said on Monday it would ramp up spending on advertising and focus store openings mainly on the Chinese market, pausing efforts elsewhere after years of rapid expansion.
Fashion conglomerate Shandong Ruyi has brushed aside a sale of textile maker Lycra proposed by Lycra's creditors and is instead looking to publicly float the business, two people with direct knowledge told Reuters.
Renown Inc, part of Chinese fashion empire Shandong Ruyi, filed for bankruptcy on Friday with 13.9 billion yen ($130 million) in debt, Japan’s highest-profile business to collapse amid the coronavirus outbreak.
Troubled tailoring specialist Bagir Group is assessing its options as it said the coronavirus crisis means it has "insufficient cash resources available" and undermined its ability to continue as a going concern.
Sources have said that Chinese luxury clothing conglomerate Shandong Ruyi hasn't yet secured financing for its $600m purchase of Swiss luxury brand Bally, despite two years having passed since the deal was done.