PPR buys majority stake in jeweller Qeelin

Top luxury groups, apart from opening new stores in China, are acquiring promising local brands as a way to expand in the world's second-largest luxury market.

Paris-based conglomerate PPR, which owns Gucci, Saint Laurent and Bottega Veneta, said yesterday it has acquired a majority stake in mainland fine jewellery maker Qeelin, which will become the first brand from Asia under its control.

PPR did not disclose the cost but said the transaction should be finalised next month.

via Business feed http://www.scmp.com/business/companies/article/1102534/ppr-buys-majority-stake-jeweller-qeelin