PPR aquires Chinese jeweler Qeelin for undisclosed price

PPR, the French owner of Gucci, acquired a majority stake in Chinese jeweler Qeelin for an undisclosed price.

Qeelin has 14 boutiques and its jewelry is sold in stores including Colette in Paris and Restir in Tokyo, PPR said in a statement. The transaction will probably close in January, Paris-based PPR said.

PPR has “great ambitions” for the brand, PPR CEO Francois-Henri Pinault said in the statement.

via Business feed http://www.scmp.com/business/companies/article/1102008/ppr-aquires-chinese-jeweler-qeelin-undisclosed-price