PARIS — Shares in SMCP, the owner of French contemporary brands Sandro, Maje and Claudie Pierlot, ended their first day of trading on the Paris stock market at 21 euros a share, down 4.5 percent.
The founder and artistic director of Sandro’s men’s wear line Ilan Chétrite; Sandro founder and artistic director Evelyne Chétrite; her sister, the founder and artistic director of Maje Judith Milgrom, and SMCP chief executive officer Daniel Lalonde participated in the opening bell ceremony Friday.
The listing is the second largest listing on the Paris stock market this year.
The company, which is controlled by Chinese textile conglomerate Shandong Ruyi Group plans to use funds from the listing to pay off debt and fuel further expansion abroad.
Geared toward women and men between the ages of 15 and 45, the company has grown rapidly, setting up more than 100 stores in China over the past three years.
It plans to focus upcoming expansion in China, the U.K., Spain, Germany, Italy and North America.