French fashion group SMCP buys men's luxury brand De Fursac

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French fashion group SMCP buys men's luxury brand De Fursac
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French fashion group SMCP has agreed to buy men's luxury clothing company D...

FILE PHOTO: Men's garments sit on coat hangers inside a Sandro luxury clothing store, operated by SMCP Group, in Paris, France, December 21, 2017. REUTERS/Benoit Tessier

SMCP, which is majority owned by Chinese retail group Shandong Ruyi, did not disclose the amount paid to buy De Fursac, but said the deal was a 100% debt-financed acquisition and would boost earnings per share from 2019. “With De Fursac in our group, we have a unique opportunity to accelerate our strategy, by tapping into a new segment in the fast-growing men’s accessible luxury market,” said SMCP Chief Executive Officer Daniel Lalonde.

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