A group of bondholders including asset manager BlackRock and an affiliate of private equity firm Carlyle has become the top shareholder in French fashion company SMCP, taking on a 29% equity stake it now wants to sell.
SMCP has had to deal with plenty of background ‘noise’ of late as issues around its parent company persist. But it’s remained laser-focused on driving sales back to more normal levels and saw some success in Q3.
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.
Aquascutum’s Chinese owner is the subject of a potential lawsuit over unpaid invoices, as fears over a liquidity crisis persist. A Portuguese fabrics firm called Calvelex is expected to take it to court this week.
Ilan Chetrite is the man behind Sandro’s menswear. The founder’s son, he has worked to grow the label for a decade. As SMCP is about to buy men’s brand De Fursac, he talks to FashionNetwork.com about his menswear vision.
An intense men’s fashion week starts in Paris on Tuesday, with the ‘Karl for Ever’ event and 60 catwalk shows, including rookie labels Bode, Phipps, Ludovic de Saint Sernin and Sies Marjan, and Balmain’s gig-show.