PPR, the French owner of Gucci, has bought a majority stake in the Chinese fine jewellery brand Qeelin.
Announcing the acquisition which is expected to be finalised next month, PPR chairman and CEO François-Henri Pinault said he was delighted that Qeelin was joining the group’s portfolio of luxury brands.
“Qeelin uniquely translates Chinese inspiration into fine contemporary jewellery design and shows strong growth potential in China and beyond,” he said.
“We thus have great ambitions for the brand and will make it benefit from our expertise and know-how, so that it can speed up its development.”
Launched in 2004, Qeelin “turns mythical and superstitious Chinese symbols into timeless, meaningful and state-of-the-art contemporary jewels” and currently operates 14 boutiques (seven in mainland China, four in Hong Kong and three in Europe) and is listed in several multi-brand stores such as Colette in Paris and Restir in Tokyo.
Pinault said that PPR would enable Qeelin to accelerate its “tremendous intrinsic growth potential” notably through store openings in mainland China and Hong Kong.
Qeelin chairman, co-founder and creative director Dennis Chan added that joining PPR would enable Qeelin to “write a new chapter of the brand’s history while preserving its unique and strong identity”.
Distributed in more than 120 countries, PPR’s portfolio of luxury brands includes Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga, Stella McCartney, Sergio Rossi, Boucheron and Girard-Perregaux.