Shandong Ruyi Technology Group has completed the acquisition of a controlling stake in SMCP from KKR.

Shandong Ruyi Technology Group, a textile manufacturer, has completed the acquisition of a controlling stake in SMCP, a France-based global designer, distributor and retailer of accessible luxury apparel, from KKR, a leading global investment firm. Financial terms were not disclosed. "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, Shandong Ruyi Group President.