KKR-backed clothing retailer SMCP files for IPO in France

Paris

KKR & Co's French clothing retailer SMCP began the process for an initial public offering (IPO) after doubling its sales over the past three years.

SMCP filed its registration document with the French market regulator, the first step toward a possible IPO, the Paris-based company said on Tuesday. The company, which operates the "accessible luxury" brands Sandro, Maje and Claudie Pierlot, didn't give any details on the size of the planned offering. SMCP may be valued at more than one billion euros (S$1.5 billion) in the sale, people familiar with the matter said on Monday, asking not to be named.