SMCP FOR SALE?: L Capital, the private equity arm of LVMH Moët Hennessy Louis Vuitton, on Sunday declined to comment on growing speculation that Groupe SMCP, in which it holds a 51 percent stake, is on the block.
French weekly Le Journal du Dimanche said SMCP, which controls contemporary brands Sandro, Maje and Claudie Pierlot, had mandated Edmond de Rothschild Corporate Finance to study the possibility of selling the group.
Galeries Lafayette, which has stated its intention of acquiring mid- to high-end brands in ready-to-wear and accessories, is believed to be among the interested parties, WWD has learned. Officials at SMCP and Galeries Lafayette could not immediately be reached for comment. L Capital acquired its majority stake in SMCP two years ago.