Gucci parent, French multi-national company PPR has acquired a controlling stake in Chinese jewellery brand Qeelin.
Launched in 2004, Qeelin operates 14 boutiques (seven in mainland China, four in Hong Kong and three in Europe) in addition to being listed in some multi-brand stores such as Colette in Paris and Restir in Tokyo.
By acquiring a majority stake in Qeelin, PPR is increasing its portfolio of brands in the jewellery segment and building its presence in the Chinese market. PPR will enable the Chinese jeweller to accelerate its expansion, through store openings in mainland China and Hong Kong.
“Qeelin uniquely translates Chinese inspiration into fine contemporary jewellery design and shows strong growth potential in China and beyond,” said PPR chairman and CEO Francois-Henri Pinault.
“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,” he added.
Qeelin will be joining PPR’s portfolio of brands including Gucci, Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Stella McCartney, Sergio Rossi, Boucheron, Girard-Perregaux, JeanRichard, Puma, Volcom, Cobra, Electric, Tretorn and Fnac.
“Joining PPR will enable us to write a new chapter of the brand’s history while preserving its unique and strong identity,” said Qeelin CEO and co-founder Guillaume Brochard.