PARIS — Yuyuan Jewelry & Fashion Group, a subsidiary of Chinese conglomerate Fosun, is taking a majority stake in Paris fashion jewelry label Djula, with plans for expansion in Asia.
Yuyuan will buy 55.4 percent of the brand and plans to invest 26 million euros in expanding it in China and abroad, starting with 15 new stores in major Chinese cities in the coming year, the companies said in a joint statement Friday. No further financial details were provided.
The Chinese company “rapidly emerged as the most obvious partner, with knowledge of the lifestyle sector on a global level and strength in China that quickly convinced me,” said Alexandre Corrot, founder and artistic director of the house.
“This acquisition also completes our portfolio of luxury brands…and will play a key role in the development of our group,” said Zhen Huang, president of Yuyuan Jewelry & Fashion Group.
In addition to the recognizable nature of the label’s design styles, Yuyuan cited its use of key opinion leaders on social networks — important for conquering the Chinese market — as a reason for its interest in the jeweler.
Djula is known for delicate, feminine jewelry with a contemporary flair — thin chain necklaces adorned with diamond-encrusted droplets or stars and hooped earrings fringed with tiny diamonds — styled in layers and worn by stars including Rihanna and Jennifer Lopez. The price range is broad, ranging from the 300 euros range to upward of a few thousand euros.
Fosun owns a number of brands, including Lanvin, St. John Knits, Caruso and Tom Tailor, as well as resort operator Club Med.