Hong Kong-based Qeelin plans doubling its China store network, banking on increasing jewellery purchasing.
The jewellery retailer plans to increase its network in mainland China to at least 24 stores over the next two years.
Qeelin, founded by Chinese designer Dennis Chan and French entrepreneur Guillaume Brochard, who is also its CEO, is owned by luxury goods group PPR. It has 12 stores in China, seven in Hong Kong and two in Europe.
Brochard says they see no signs of slowing demand for jewellery in mainland China. According to ChinaMarketResearchReports.com sales totalled $75.8 billion in 2013, equivalent to 41.2 per cent of the global consumption, making the nation a major jewellery consumer globally.
But Qeelin is not alone in its expansion plan for the nation. Another Hong Kong jeweller, Chow Tai Fook, plans to open some 600 new stores over the next three years, as part of its target of 4000 stores in China within the next 15 years. Luk Fook plans the same, saying it will continue to identify new business opportunities to expand its existing over 1250 shops in Hong Kong, Macau, Mainland China, Singapore, US, Canada and Australia.