By Pierre Bertrand

SMCP shares jumped higher Thursday after the French fashion company said it had entered the Indian market.

At 0830 GMT shares traded 1.2% higher at EUR3.67, losing much of the ground gained in early trading when shares had risen as high as 7.4%.

The owner of Sandro, Maje, Claudie Pierlot and Fursac brands said that it has partnered with Reliance Brands Limited in the country and that Reliance has become the exclusive distributor for Sandro and Maje in India.

SMPC said that Sandro and Maje will open their first stores in the country in 2024.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

November 30, 2023 03:54 ET (08:54 GMT)

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