PPR Buys Qeelin to Expand in China

PPR acquired a majority stake in the Chinese fine jewelry brand Qeelin for an undisclosed sum, Rapaport reported. The transaction should be finalized in January, according to the retailer. Qeelin was launched in 2004 and turns mythical and superstitious Chinese symbols into contemporary jewels. Qeelin is also the first Chinese luxury jeweler to have established an international network of boutiques, according to PPR. Qeelin operates 14 boutiques, seven of which are on Mainland China, four in Hong Kong and three across Europe, in addition to being carried by multi-brand stores, such as Colette in Paris and Restir in  Tokyo.
The deal is expected to give PPR's jewelry brand portfolio a boost as well as increase it presence in the Chinese market. PPR expects to accelerate Qeelin's expansion, notably through store openings in China and Hong Kong.
Francois-Henri Pinault, the chairman of PPR, said,  "I am delighted that Qeelin is joining PPR's portfolio of luxury brands. Qeelin uniquely translates Chinese inspiration into fine contemporary jewelry design and shows strong growth potential in China and beyond. 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."
Qeelin's co-founder, Guillaume Brochard, added, "PPR is the ideal strategic partner to lead our company towards a new stage in its development. Experience and information sharing within PPR will be very valuable."
Dennis Chan, Qeelin's second  co-Founder, said, "Qeelin invariably aims at bringing the best of contemporary Chinese design to the world. Joining PPR will enable us to write a new chapter of the brand’s history while preserving its unique and strong identity."