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 Forget 'The Dress': Here are five of the biggest news stories you might have missed
- 2 The black and blue dress: Makers considering a white and gold version
- 3 PornHub turns masturbation into energy in bid to save the planet
- 4 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
- 5 Saudi Muslim cleric claims the Earth is 'stationary' and the sun rotates around it
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...