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SMCP to sell 51.2% of its share capital

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SMCP to sell 51.2% of its share capital


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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.”

Sandro boutique in New York – Sandro

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 new Maje boutique in London
The new Maje boutique in London – Maje

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

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China boosts offshore wind capacity to speed up low-carbon transition

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China boosts offshore wind capacity to speed up low-carbon transition



China is developing several advanced offshore wind projects, fast-tracking its energy transition.

The country’s total wind power installed capacity hit 650 million kW at the end of February 2026—up by 22.8 per cent year on year (YoY), data from the National Energy Administration show.

China is developing several advanced offshore wind projects, fast-tracking its energy transition.
Its cumulative offshore wind installed capacity has surpassed 47 million kW, leading the world for five consecutive years.
China is now shifting its focus to deeper, more distant waters.
It has also developed a robust, clustered offshore wind industrial supply chain, with key hubs in coastal provinces.

Its cumulative offshore wind installed capacity has surpassed 47 million kW, leading the world for five consecutive years.

Generally, projects with water depths exceeding 50 metres are categorised as deep-sea offshore wind, and those over 65 kilometres from the shore as far-offshore wind.

China is now shifting its focus to deeper, more distant waters, where winds are stronger and more stable, but pose greater operational challenges.

In south China’s Guangdong Province, a major offshore wind farm project developed by China Huadian Corporation, situated off the coast of Yangjiang City, has started full-scale construction.

Located up to 89 km offshore, it will generate 1.6 billion kWh of clean power annually and reduce carbon emissions by 1.26 million tonnes upon completion, a state-controlled media outlet reported.

Meanwhile, in east China’s Shandong Province, the country’s deepest operational offshore wind farm has achieved full grid connection. The 504,000-kW project, developed by China Huaneng Group, operates in waters ranging from 52 to 56 metres deep, approximately 70 km offshore.

In south China’s Hainan Province, a pilot wind project has also commissioned its first grid-connected turbines, which are expected to generate 150 million kWh of clean power per year.

China has also developed a robust, clustered offshore wind industrial supply chain, with key hubs in coastal provinces like Guangdong, Jiangsu, Shandong and Fujian, covering turbine manufacturing, auxiliary equipment, construction and installation, and operation and maintenance services.

In Shantou, Guangdong Province, local authorities are exploring diversified utilisation models for offshore wind to build a world-class high-end offshore wind equipment cluster.

Key components for wind turbines, including generators, gearboxes, and bearings, are produced and assembled seamlessly within the industrial cluster, reducing long-distance transportation costs and the risk of damage.

The city also boasts a key offshore wind innovation hub, equipped with a training centre and an advanced wind turbine testing platform, which provides professional technical support and performance testing services for the global offshore wind industry.

In Yancheng, east China’s Jiangsu Province, China’s largest offshore wind industrial cluster has taken shape, with a complete supply chain. Its total wind turbine production capacity accounts for over 40 per cent of the national total, and blade production accounts for about 20 per cent of the country’s output.

During the 15th Five-Year Plan period (2026-2030), China aims at further developing large-scale offshore wind bases across the Bohai Sea, the Yellow Sea and the East China Sea, and steadily scale up deep-sea wind development.

The country targets over 100 million kW of cumulative offshore wind capacity by 2030.

Fibre2Fashion News Desk (DS)



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Sweden’s H&M & Stella McCartney return with nostalgic 2026 collection

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Sweden’s H&M & Stella McCartney return with nostalgic 2026 collection



H&M is proud to reveal all the looks in the upcoming Stella McCartney H&M collection. The collection will launch on 7 May, some twenty years after H&M’s first partnership with the acclaimed designer and campaigner. The first Stella McCartney H&M partnership – H&M’s second ever design collaboration – launched in November 2005. This new Stella McCartney H&M collection builds on that legacy. It reflects on the highlights of the house’s 25-year history, bottling McCartney’s pioneering and rule-breaking vision into a range of apparel and accessories.

The collection unites past and present, combining beloved current signatures, such as oversized shirting, sweeping trenches and sharp tailoring, with playful iconic hits from McCartney’s early archive, including bejewelled prints and slogan tops.

H&M unveils its new Stella McCartney collaboration, launching May 7, marking 20 years since their first partnership.
Blending archive-inspired designs with modern signatures, the collection features tailored pieces, statement prints and accessories.
With a strong focus on recycled and organic materials, it reflects McCartney’s legacy of innovation, sustainability and timeless style.

“I see this collection as a journey through my fashion history. It is a true mix of current classics and some of my old favourites that showcase my first forays into fashion and the development of my signatures. It’s playful, strong, sparkling, joyful, refined.” Stella McCartney.

Other key items in the collection include rib knitted dresses and tops with McCartney’s signature Falabella chain at the neck, and a long white gown with a cape-like sleeve that loops into the hem, giving the look of a sweeping circle of fabric. Also available are sparkling partywear, separates and denims, as well as mesh dresses and tops in a bold archival cherry-print. Offering an extra dose of nostalgia is a white mini tee embellished with studs reading ‘Rock Royalty’.

The accessories range is strong, and rich in bags. There will be six styles to choose from, including small, branded shoulder bags, giant totes and a timeless chocolate-toned bag with a chain-detail strap. This is one of several pieces in the collection that incorporate the Falabella chain, including necklaces and earrings, crafted in recycled metal in mixed tones, and loafers with chain detailing on the front.

The collection is defined by an approach to materials that prioritizes recycled content, organic cottons, wool certified to the RWS Standard and innovative usage of feedstock for coated materials, such as industrial corn and recycled vegetable oil.

Unveiled today is the collection’s campaign, shot by Sam Rock in London, and starring Renee Rapp, Angelina Kendall and Adwoa Aboah. The mood is playful yet effortless, nostalgic yet forward-thinking. Across the campaign, &Stella becomes the tagline for this special collaboration. Reinterpreted in myriad forms – &Here &Now &Me &You – it becomes a message about connection, care, and a way of being that speaks both this moment, and to the past, present, and future.

“Stella has always had a bold vision for fashion, and this collection tracks her journey from a young, rule-breaking voice to a master of timeless design. Every single piece in the collection is desirable and tells a unique and bold story.” – Ann-Sofie Johansson.

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 (JP)



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North India cotton yarn steady despite continued push by spinners

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North India cotton yarn steady despite continued push by spinners



The Delhi cotton yarn market remained stable, though demand from downstream industries was weak at elevated price levels. Garment demand in both domestic and export markets also remained sluggish. A trader from Delhi market told Fibre*Fashion, “Spinning mills are selling cotton yarn at an additional margin of at least ** per cent. They have a cushion of advance orders from other countries. Mills have export orders for the next ** months, so they do not need to sell in the domestic market. They are selling cotton yarn domestically at higher prices than export realisations.”

In Delhi, ** count combed knitting yarn was traded at ****;****** (~$*.***.**) per kg (GST extra), while ** count combed yarn was priced at ****;****** (~$*.***.**) per kg. Meanwhile, ** count carded yarn was traded at ****;****** (~$*.***.**) per kg and ** count carded at ****;****** (~$*.***.**) per kg, according to market sources.



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