- Language Tips
Gucci owner buys majority stake in Chinese jeweler
PPR SA, the French owner of Gucci, has acquired a majority stake in Chinese jeweler Qeelin for an undisclosed price to bolster growth in its largest market for high-end goods. Qeelin, whose jewelry sells for HK$20,000 ($2,600) to HK$300,000, has 14 boutiques and is offered in stores such as Colette in Paris and Restir in Tokyo, Paris-based PPR said. The transaction will probably close in January, the company said. More than half of Qeelin's clients are from the Chinese mainland, PPR said.
Bank card consumerconfidence rises in Nov