PPR Aims to Buy More Chinese Brands After Adding Qeelin

PPR SA bought a majority stake in Chinese jeweler Qeelin for an undisclosed price and said it is looking to make more acquisitions in the Asian nation to bolster growth in its largest market for high-end goods.

Qeelin has 14 boutiques and its jewelry, which sells for HK$20,000 ($2,600) to HK$300,000, is also distributed in stores like Colette in Paris and Restir in Tokyo, Paris-based PPR said today. The transaction will probably close in January.