Fashion
SMCP to sell 51.2% of its share capital
Published
November 28, 2025
For SMCP and its creditors, the long-running economic and legal saga of recent years appears to be drawing to a close. The group, which owns the Sandro, Maje, Claudie Pierlot and Fursac brands, announced on Thursday that it was putting up for sale up to 51.2% of its share capital, a process expected to take “several months” and which could enable it to “stabilise its shareholding structure.”
This is the expected outcome following the forced return, in August 2025, to a Luxembourg holding company of the 15.5% of SMCP’s capital that had been improperly transferred to a trust based in the British Virgin Islands by its Chinese shareholder, which defaulted in 2021.
It was confirmed in a separate press release by the court-appointed liquidator representing the holding company European Topsoho (ETS) and the administrators overseeing the process.
In 2017, at the time of its IPO, SMCP’s majority shareholder was the Chinese conglomerate Shandong Ruyi, via ETS, an investment vehicle registered in Luxembourg.
However, burdened with heavy debt, it defaulted and in 2021 lost most of its stake to its creditors, grouped within the Glas entity.
Before that, ETS had sold a stake of around 16% to the daughter of Shandong Ruyi’s founder, Chenran Qiu, held in the Dynamic Treasure Group (DTG) trust in the British Virgin Islands.
Having sought for several years to recover this stake and judging the transfer procedure irregular, Glas launched legal action in Europe and then in Asia, and ultimately prevailed.
Thus, in August, the 15.5% stake in SMCP was returned to ETS. And on 21 November, the Luxembourg District Court authorised its sale, SMCP stated in a press release. In addition to the shares returned in August, the sale concerns the 28% stake held by Glas, as well as the 8% stake held by ETS.
The remainder of the capital comprises 40.4% free float (i.e. the portion of shares freely traded on the stock exchange; the share price stood at €5.95 at 6:00pm on November 27), 7.7% held by the founders and employees, and 0.6% held as treasury shares.
A buyer of the 51.2% offered for sale would also hold 50.7% of the group’s voting rights, and would therefore effectively be in control.
SMCP says it “welcomes this project, which would enable it to stabilise its shareholding structure and focus on pursuing its development strategy”.
Should the sale represent “more than 30% of the company’s share capital, the purchaser of this block (acting alone or in concert) could be required to file a draft public tender offer for all SMCP shares”, the group said in its press release.
“At this stage, however, there is no certainty that this process will be successful and the final decision on disposal rests with the holders of the aforementioned stakes,” it added.
In 2024, the group, led by Isabelle Guichot, generated revenue of €1.212 billion, with a presence in 49 countries. Over the first nine months of its 2025 financial year, the group recorded a 2.8% increase in sales to €896 million, alongside improved profitability, a higher share of full-price sales in recent years, and a marked reduction in its debt burden. Its business, 65% of which is now generated outside France, is driven 88% by its flagship brands Sandro and Maje.
The stock market valuation of the ready-to-wear group, which has 1,651 points of sale worldwide, exceeded €450 million on Thursday evening. It remains to be seen who will come forward to acquire this leading name in French accessible luxury.
With AFP
This article is an automatic translation.
Click here to read the original article.
Copyright © 2025 FashionNetwork.com All rights reserved.
Directed by AJ Duan and photographed by Anton Gottlob in the streets of Shanghai, the hero film captures the poetry of movement in the city’s rush hour – a dance of anticipation as the four characters race towards a reunion. Amid the hum of the streets, fleeting moments of humour, warmth and surprise are revealed like hidden treasures.
Burberry marks the Year of the Horse 2026 with a capsule collection and Shanghai-set campaign starring Chen Kun, Tang Wei, Wu Lei and Zhang Jingyi.
The line reimagines the iconic Knight motif in painterly techniques, anchored in lucky red tones.
Store windows across China and Asia Pacific feature hand-painted designs created with de Gournay and artist Liao Wenjun.
The capsule collection
At the heart of the capsule collection – titled Burberry Year of the Horse Collection – is our house code, the Knight, playfully reinterpreted as a watercolour and ink sketch, brought to life through intricate techniques such as vibrant metallic embroidery, cross-stitch and appliquéd badges.
The horse is a significant motif for Burberry. The original Knight was the winning entry of a public public competition to design a logo for the house, circa 1901. Imbued with symbolism, it represents protection, innovation and Burberry’s forward-looking spirit.
The collection is grounded in red, a symbol of luck and prosperity in Chinese culture, with scarves and daywear in an exclusive new red Burberry Check.
Outerwear pieces include the Berryhill car coat and Floriston quilted jacket in iridescent nylon, while the gifting offering is expanded through soft accessories, bags and small leather goods detailed with the seasonal Knight.
Window and store display
Burberry has partnered with esteemed British hand painted wallpaper brand de Gournay on window designs throughout stores in China and Asia Pacific. The collaboration celebrates the craft and texture of Xuan paper – the traditional Chinese paper used for calligraphy and painting. Both surface and subject, the paper becomes a canvas for painterly expression and a reflection of artistry and heritage, by Chinese artist Liao Wenjun.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
By
Reuters
Published
January 15, 2026
India expects talks on a long-sought trade deal with the European Union to conclude this month, Trade Secretary Rajesh Agrawal said on Thursday, in what would be New Delhi’s largest agreement as it seeks new markets amid US tariff pressures.
The deal, under discussion for years, is seen as a chance for both sides to deepen economic ties and cut reliance on China and Russia. Bilateral trade between India and the EU totalled 120 billion euros ($140 billion) in 2024, making the bloc India’s biggest trading partner. Agrawal said the two sides were “very close” to finalising the pact and were exploring whether it could be wrapped up before leaders meet in New Delhi this month.
He said talks on a US trade pact were continuing and a deal would be reached when both sides were ready. Negotiations collapsed last year after a breakdown in communication between the two governments.
The president of the European Council, Antonio Costa, and European Commission president Ursula von der Leyen will visit India on January 25–27 and co-chair an India–EU summit on January 27, India’s foreign ministry said. If concluded, the deal would open India’s vast and heavily protected consumer market of more than 1.4 billion people to European goods and could reshape global trade flows as protectionism rises and a US-India pact remains stalled.
Both sides have been pushing to close a broad agreement after von der Leyen and Indian Prime Minister Narendra Modi agreed to fast-track negotiations in an effort to close a deal in 2025. Talks, relaunched in 2022, gained momentum after US President Donald Trump imposed tariff hikes on trading partners including India.
Brussels has recently signed deals with Mexico and Indonesia and stepped up talks with India, while New Delhi has reached agreements with Britain, Oman and New Zealand.
Some sensitive agricultural items have been excluded from negotiations, an Indian trade ministry official said. India will not open its agriculture or dairy sectors in any trade pact, officials have said, citing the need to protect millions of subsistence farmers.
The EU is pushing for steep tariff cuts on cars, medical devices, wine, spirits, and meat, along with stronger intellectual property rules. India is seeking duty-free access for labour-intensive goods and quicker recognition of its autos and electronics sectors.
Beyond goods, the agreement is expected to expand services trade, investment and cooperation in digital trade, intellectual property, and green technologies, as well as spur European investment in Indian manufacturing, renewable energy ,and infrastructure. Challenges remain over regulatory alignment and the protection of sensitive sectors. The EU’s carbon border levy, which requires importers to account for emissions in steel, cement and other carbon‑intensive products, has started to hit some Indian exports and is a key concern for New Delhi, exporters said.
© Thomson Reuters 2026 All rights reserved.
Louis Vuitton posted modest growth of 2 per cent, taking its brand value to $32.9 billion, though its ranking slipped to third among the world’s most valuable brands. Hermes held on to fourth place, underpinned by its disciplined scarcity approach, craftsmanship-driven positioning, and steady demand across leather goods, apparel, and accessories.
Chanel emerged as the fastest-growing luxury fashion brand in 2025, with brand value surging 45 per cent to $37.9 billion, ranking second globally, as per a recent report.
Apparel-led brands dominated nearly 69.7 per cent of total value.
Louis Vuitton slipped to third despite growth, while Dior was named the strongest brand.
France remained the global luxury hub, followed by Italy and Germany.
Apparel-focused luxury brands dominated the rankings, accounting for nearly 69.7 per cent of total brand value, underscoring fashion’s pivotal role in shaping the global luxury landscape.
Dior strengthened its standing as one of the sector’s most influential fashion houses, with brand value rising 18 per cent to $17.3 billion. Beyond value growth, Dior was named the strongest luxury and premium brand globally, achieving a Brand Strength Index score of 93.5 out of 100. Brand Finance highlighted Dior’s exceptional reputation scores, including a perfect score in the US, alongside strong consideration and recommendation metrics in Europe and North America.
Gucci, despite a 24 per cent decline in brand value to $11.4 billion and a drop to ninth place, remained firmly within the global top 10. Brand Finance noted that while the brand faces a period of transition, its scale, heritage, and global recognition continue to anchor its long-term relevance in luxury fashion.
Geographically, France remained the epicentre of luxury fashion, accounting for 48.7 per cent of total luxury and premium brand value, followed by Italy at 18.4 per cent and Germany at 13 per cent, added the report.
Five of the top 50 brands have earned an esteemed AAA+ brand strength rating—the highest rating awarded by Brand Finance.
Fibre2Fashion News Desk (SG)
Want to go to the national championship game? Got (at least) $2,700?
Pro-Iran protests held in Indian-occupied Ladakh
Burberry celebrates Year of the Horse 2026 with Shanghai campaign
-
Politics1 week agoUK says provided assistance in US-led tanker seizure
-
Entertainment1 week agoDoes new US food pyramid put too much steak on your plate?
-
Entertainment1 week agoWhy did Nick Reiner’s lawyer Alan Jackson withdraw from case?
-
Business1 week agoTrump moves to ban home purchases by institutional investors
-
Sports1 week agoPGA of America CEO steps down after one year to take care of mother and mother-in-law
-
Sports4 days agoClock is ticking for Frank at Spurs, with dwindling evidence he deserves extra time
-
Business1 week agoBulls dominate as KSE-100 breaks past 186,000 mark – SUCH TV
-
Business1 week agoGold prices declined in the local market – SUCH TV