KKR fashion brands to attract bids from Lion Capital, Ruyi

HONG KONG: SMCP, the KKR & Co-backed owner of French fashion brands Sandro, Maje and Claudie Pierlot, has attracted bids from Lion Capital and Chinese textile producer Shandong Ruyi Group, people with knowledge of the matter said.

The clothing group could be valued at more than US$1bil in the sale, the people said, asking not to be identified as the information is private. KKR, which bought control of SMCP in 2013, hired banks last year to consider strategic options including a sale of its stake, according to the people.