MILAN – Buccellati planted its flag in China.
The Milan-based jewelry firm, whose 85 percent stake is controlled by Chinese Gansu Gangtai Group, opened its first store in Shanghai on Thursday.
Located inside the city’s Plaza 66 luxury shopping destination, the 1,615-square-foot unit was celebrated with a special event at the presence of Andrea Buccellati, honorary president and creative director of the house.
“We’re glad to bring our unique creations in China and look forward to face all the next steps of this journey,” said Buccellati, who cut the ribbon for the store along with Gansu Gangtai Group’s president Xu Jingang and actress Zhang Ziyi.
Following the opening, an exclusive gala dinner was held for 100 guests at the Shanghai Exhibition Centre. The venue was staged to salute the firm’s heritage, with Renaissance-inspired images projected on the ceiling and over 100 Buccellati jewelry pieces exhibited in an installation.
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In addition, models posed with creations of the high-end Unica collection and dancers wore the house’s jewelry sets during live performances.
During the event, Buccellati also announced Ziyi’s appointment as brand ambassador. The actress, who wore white and yellow gold set with diamonds of the house’s high-end Unica collection for the occasion, said she was honored to represent the storied Italian brand and glad of its increasing presence in the country.
In particular, Buccellati will open other boutiques in China by the end of the year, including units at the Shanghai Taihui Park and the Peninsula Hotel of Shanghai and Beijing.
Back in August, when Gansu Gangtai Group closed the acquisition of the house’s majority stake, Buccellati’s chief executive officer Gianluca Brozzetti said the group will invest a sum of 200 million euros to boost the international expansion of the label in the next five years.
In particular, Brozzetti explained that 27 of the 88 planned stores will be opened in Greater China, not only in famous cities such as Beijing, Shanghai, Macau, Taipei and Hong Kong, but also in less-known, yet densely populated towns.
Following Gansu Gangtai Group’s acquisition, the Buccellati family and private equity Clessidra SGR retain a 15 percent stake in the company. Clessidra acquired a majority stake in Buccellati in an operation valued at 80 million euros in 2013.
Buccellati closed 2016 with revenues of 44 million euros.