Kohlberg Kravis Roberts has agreed to acquire SMCP Group, an affordable luxury apparel retailer based in France. SMCP had been owned by L Capital, Indigo Capital and company management. Following the transaction, KKR will hold approximately 65% of the company with management retaining a 35% stake. SMCP operates in the affordable luxury apparel segment across four brands: Sandro, Sandro Men, Maje and Claudie Pierlot. With more than 570 outlets in France, Germany, Italy, Spain and the U.K., SMCP plans to open another 150 new stores in 2013, mainly outside of France.