SMCP, the Chinese fashion group that owns labels Sandro and Claudie Pierlot, will be acquiring De Fursac, the French luxury menswear label.
This was announced in a statement released by SMCP. The company said that the acquisition would enable it to gain access into menswear segment and complement its already successful labels.
The value of the deal hasn’t been disclosed as yet!
Daniel Lalonde, Chief Executive Officer, SMCP, was happy about the deal and said that De Fursac gives an opportunity for SMCP to venture into a new segment in the rapidly growing menswear market.
He added “De Fursac is an outstanding brand, poised for growth through international expansion, with the support of our expertise.”
Expressing happiness, Edmond Cohen, President, De Fursac, said “I am convinced that SMCP is the ideal partner to support our ambitions and that our talented teams will integrate perfectly into this new group.”
It is noteworthy that in 2018, De Fursac’s sales touched €41.4 million, with a like-for-like sales growth of 5.4 per cent.
