Hong Kong-based Swire has shown its interest in taking over Sandro and Maje when it made an offer of over 600 million euro for both fashion brands. At the moment there seems to be a growing interest for European fashion companies in Hong Kong.
A dream coming true?
Sandro and Maje were founded by Judith Milgrom and Evelyne Chétrite and are currently sold in over five hundred locations worldwide. Both brands are currently owned by L Capital, the investment branch of luxury group LVMH. If a deal with Swire, which owns a lot of property in China and Hong Kong, does happen, their dream of an Asian expansion could be within reach.
Swire, a conglomerate from Hong Kong owning among others Cathay Pacific, is not the only taker at the moment: investment groups KKR, Carlyle and Eurazeo have all made it to the second round of the auction.
Recently several European fashion companies were acquired by companies from Hong Kong, like British brands Gieves & Hawkes and Kent & Curwen (bought by Trinity), Aquascutum (currently owned by YGM Trading) or Sonia Rykiel (currently Fung Brand).