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Boucheron Leads Expansion into China
October 27th, 2009 @ 00:33 AM - Paris
High-end jeweler Boucheron is placing a big bet on China. The Paris-based firm has inked a deal with
Sparkle Roll Group Limited, a major Chinese distributor of prestige products, to open a network of Boucheron boutiques in the People’s Republic of China.
The partnership’s goal is to create a chain of six to 10 Boucheron stores in China over the next five years. As part of the deal, Sparkle Roll will immediately take over control of Boucheron’s existing Shanghai store situated in Plaza 66.
“With their unique ability to bring luxury to the region, Sparkle Roll is the ideal partner to help us develop and strengthen Boucheron’s presence in China,” said Boucheron CEO Jean-Christophe Bedos in a release.
The new partners plan to open their first Boucheron flagship store in a “prime location” in Beijing early next year.
“Our aim is to become the ultimate French jeweler in the region,” added Bedos.
Boucheron is the core jewelry brand within the Gucci Group, the French conglomerate that is the world’s third largest luxury goods producer, and outright owner or majority shareholder of such fashion labels as Yves Saint Laurent, Bottega Veneta, Stella McCartney, Balenciaga and Alexander McQueen.
The announcement comes just two days before the unveiling of cColbert, a new web site by the Comite Colbert, France’s leading luxury federation, targeted at Chinese consumers and designed to create “a virtual voyage through French luxury.”
The Comite Colbert, of which Boucheron is a key member, will launch cColbert this Thursday with simultaneous events in Beijing and Paris.
Sparkle Roll Chairman Ivan Tong added that his group “is honored to be working hand-in-hand with such a renowned French top-tier jewelry brand Boucheron in the PRC. The partnership is strategically important for Sparkle Roll’s business as we have already secured the distribution of three ultra luxury automobiles and three super deluxe branded watches in the PRC [China].”