Gucci owner targets luxury brands to cash in on Chinese consumers

The firm that owns the Gucci and Yves St Laurent fashion labels is targeting more big brands in the luxury market, to cash in on the demand for status symbol fashion items among Chinese consumers with rising incomes and a growing willingness to spend.

PPR, the French luxury and sportswear group headed by the billionaire Francois-Henri Pinault, which owns the sportswear brand Puma as well as Gucci and YSL, bought a large stake last month in Qeelin, the Hong Kong jeweller founded by local designer Dennis Chan and the French entrepreneur Guillaume Brochard in 2004.

via Business feed http://www.scmp.com/business/companies/article/1138261/gucci-owner-targets-luxury-brands-cash-chinese-consumers