French fashion giant SMCP is in talks to buy British luxury fashion brand Reiss, according to Sky News. The deal could be announced as early as next week and would value Reiss at about u00a3200m, Sky said, citing unnamed sources. SMCP, backed by private equity firm KKR, is said to have been eyeing up Reiss for several months. It already owns a stable of popular French brands including Sandro, Maje and Claudie Pierlot. A deal with Reiss would mark a significant expansion for SMCP into the UK market. Reiss, founded in 1971, has more than 140 stores worldwide, including 100 in the UK. It sells a range of clothing, footwear and accessories for men and women. The potential acquisition of Reiss comes as SMCP looks to expand its global reach and compete with larger rivals such as Inditex, owner of Zara, and H&M. The French company has been on an acquisition spree in recent years, having bought De Fursac in 2019 and Fursac in 2021. SMCP’s interest in Reiss underscores the growing appetite for British fashion brands among international buyers. In recent years, a number of British brands have been acquired by foreign companies, including Gieves & Hawkes, which was bought by Chinese conglomerate Trinity in 2012, and Belstaff, which was acquired by Italian group Investindustrial in 2017. The acquisition of Reiss by SMCP would be a major coup for the French company. Reiss is a well-established and respected brand with a strong presence in the UK market. It would also give SMCP a foothold in the fast-growing luxury sector. If the deal goes through, it is likely to be closely watched by other international fashion companies looking to acquire British brands..
France Fast Fashion Giant in Talks to Buy Upmarket British Label
