The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.
PARIS, France — After weeks of exclusive talks, American private equity firm Kohlberg Kravis Roberts & Co. (“KKR”) has formally acquired a 65 percent majority stake in SMCP Group, owner of contemporary French apparel brands Sandro, Maje and Claudie Pierlot. The remaining shares will stay with founders Evelyne Chétrite and Judith Milgrom, along with members of management, Elie Kouby and Frédéric Biousse. Details of the deal were not
LONDON, United Kingdom — The Savigny Luxury Index (SLI) gained 2.8 percent in January, outperforming the MSCI World Index (MSCI) by a touch over 1 percent. Positive economic news coming out of China sent the SLI into a mini-rally at the beginning of the month, however mixed corporate results announcements took some of the wind out of its sails. From a mergers and acquisitions perspective though, the year has started off with a
British Fashion Gets a Web Dynamo (IHT) “This month Natalie Massenet, the founder of Net-a-Porter and Internet guru to the fashion world, will throw her might behind London Fashion Week. As the newly appointed chairman of the British Fashion Council, she will use her power to promote designers not in their traditional role as funky and cool, but as major players in a global arena.” Carlyle, KKR among Maje, Sandro
PARIS, France — Last April, a journalist from French daily newspaper Le Figaro asked Frederic Lefebvre, French Secretary of State for Trade, to name his favourite book. His answer: “Without doubt Zadig and Voltaire, it is a lesson in life, I dip into it often.” Mr. Lefebvre was, of course, mixing up Zadig ou la Destinée written by Voltaire in 1748 with Zadig & Voltaire, the fifteen-year-old mid-market French fashion brand. And