French luxury goods group PPR buys Chinese jewellery brand Qeelin
Monday 10 December 2012
French luxury goods group PPR has snapped up China’s answer to Tiffany – a Chinese jewellery brand called Qeelin.
PPR, the Gucci to Yves Saint Laurent group, has bought a majority stake in the brand that was founded by Hong Kong based Dennis Chan and Frenchman Guillaume Brochard in 2004.
Qeelin has 14 shops - seven in mainland China, 4 in Hong Kong and 3 in Europe including Paris.
It also sells in Harrods and Selfridges in the UK. The brand uses Chinese good luck charms, symbols and zodiac signs in its products that sell for around £1000.
Mr Brochard is the husband of the boss of Hermès‘ Chinese business Shiang Xia.
It is thought Qeelin could expand in Europe and China with one analyst predicting the brand could reach 100 stores across China. It is thought it will also open a store in London.
PPR is on the expansion trail after selling the US part of its catalogue business Redcats earlier this month. It is focusing on luxury goods and plans to buy other upmarket brands.
- 1 Alan Rickman admits editing 'terrible' script with friends in Pizza Hut behind backs of writers on Robin Hood: Prince of Thieves
- 2 Rarest Beanie Baby of them all could be sold for £62,500 on eBay
- 3 Professional big game hunter Ian Gibson crushed to death by elephant during hunt
- 4 Farmer told to tear down mock-Tudor castle after hiding construction behind hay bales
- 5 Rebecca Francis accuses Ricky Gervais of using 'influence' to target female hunters after receiving barrage of death threats
Migrants crossing the Mediterranean: Pope Francis joins calls for EU action on boat refugees
Yemen crisis: Meet the child soldiers who have forsaken books for Kalashnikovs
Alan Rickman admits editing 'terrible' script with friends in Pizza Hut behind backs of writers on Robin Hood: Prince of Thieves
Rarest Beanie Baby of them all could be sold for £62,500 on eBay
Isis in Afghanistan: Group claims responsibility for Jalalabad suicide bombing that killed 35
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
iJobs Money & Business
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£50000 - £667000 per annum + excellent benefits : Ashdown Group: IT Manager / ...
£13000 - £20000 per annum: Recruitment Genius: Scotland's leading life insuran...
£40000 - £45000 per annum + benefits : Ashdown Group: Training Programme Manag...