PPR, headed by billionaire Fran?ois-Henri Pinault, is looking to buy more Chinese luxury brands after the French group made its first acquisition in the country which has become the main growth motor for luxury goods companies, writes Scheherazade Daneshkhu.
The Paris-based group said on Sunday night that it had bought Qeelin, a Hong Kong-based jeweller, for an undisclosed amount.
The jeweller was founded in Paris in 2004 by designer Dennis Chan and French entrepreneur Guillaume Brochard. It has 14 shops of which 11 are in China and Hong Kong and three in Europe. Asia represents 75 per cent of its sales.
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