LVMH sell stake in Maje, Sandro and Claudie Pierlot
Luxury giant LVMH has hired JP Morgan to sell a string of its fastest-growing fashion brands for about 600 million euros. Groupe SMCP, which owns Sandro, Maje and Claudie Pierlot, has been put up for sale by L Capital, the investment company within LVMH.
The company is co-owned with Florac, the family office held by commodities heiress, Marie-Jeanne Meyer, who is one of the Louis Dreyfus dynasty. LVMH invested in the group just under three years ago but already Sandro and Maje have almost 400 stores throughout Europe.