Press release

Shandong Ruyi Technology Group enters into exclusivity agreement with a view to acquiring a majority stake in SMCP Group

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Founders and management to reinvest alongside Shandong Ruyi Technology Group KKR to retain a minority stake.

Shandong Ruyi Technology Group (“Shandong Ruyi Group”) and KKR, a leading global investment firm, together with the founders and management team of SMCP Group (“SMCP”) have today announced the signing of an exclusivity agreement for the acquisition of a controlling stake in SMCP by Shandong Ruyi Group. The parties contemplate that SMCP’s founders and management would reinvest alongside Shandong Ruyi Group as minority shareholders, while KKR would retain a minority interest in the group. The transaction remains subject to works council consultation and customary regulatory approvals.

Shandong Ruyi Group would invest in SMCP with the ambition to drive further growth and support the company’s global development, including in Asia where it benefits from unique experience and track-record. Shandong Ruyi Group intends to maintain the DNA and unique identity of the SMCP brands, with SMCP’s design and creative teams continuing to operate from its headquarters in Paris. SMCP would retain its current strategy and organisational structure, while benefitting from the global retailing expertise of its new shareholder.

« We have been highly impressed by the success of Sandro, Maje, and Claudie Pierlot and hold great respect for the founders and management of SMCP both for their passion and their achievement.  »

Yafu Qiu,
President of Shandong Ruyi Group

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