French fashion group SMCP , owner of brands Sandro, Maje and Claudie Pierlot, on Wednesday reported a 18.6% rise in adjusted core profit for 2017 and forecast margins would further increase in 2018 to around 17%.
Speculation that Shandong Ruyi was in talks to buy the UK’s Arcadia Group may have been denied by both parties but it has certainly focused attention on the Chinese firm’s global ambitions in the fashion sector.
A deal has been struck to sell Bally and while we don’t know how much the deal’s worth, we do know that the Swiss brand will be controlled by one of the world’s biggest textile names, Shandong Ruyi Investment Holding.
Bagir has announced it has reached an agreement to be acquired by Shangdong Ruyi Technology Group. The partnership is expected to help the company win major contracts from the world’s largest retailers.
SMCP shares began trading at just below their initial public offering (IPO) price on Tuesday, following the French fashion label’s stock market flotation which valued it at around 1.7 billion euros ($2 billion).