Boucheron the French High Jewelry brand and the Hong Kong listed Peace Mark Group announced an agreement to develop Boucheron in China, Hong Kong and Macao.
Boucheron the French High Jewelry brand and the Hong Kong listed Peace Mark Group announced an agreement to develop Boucheron in China, Hong Kong and Macao.
Boucheron and the Peace Mark Group said that they intend to open 10 freestanding Boucheron stores and a minimum of 20 Shop-in-Shop within the Tourneau network in Greater China over the next 5 years.
The Peace Mark Group will work closely with Boucheron to strategically position and expand the brand's presence in the region as one of the most exclusive ultra-luxury brands in Asia.
Peace Mark is an international leading watch and jewelry company headquartered in Hong Kong and listed on the Hong Kong Stock Exchange. It operates an extensive watch retail network and the joint venture Peace Mark Tourneau will lead its high-end distribution and retailing business with select mid-range and luxury watch brands in the Greater China Region.
The Boucheron brand, renowned for its innovation and expertise over 150 years, is owned by Gucci Group N.V., one of the world's leading multi-brand luxury companies.
Jean-Christophe Bédos, Chief Executive Officer of Boucheron, commented: “We are absolutely delighted to partner with the Peace Mark Group. They are the ideal partner to elevate the brand's success to the next level in China. Working closely together we will take the brand from strength to strength to a promising future, as the ultimate French jeweler in China.”
Patrick Chau, Chairman of the Peace Mark Group, said: “Our track record of successful brand launches and our regional network will provide Boucheron with the competitive advantage it seeks in China as it continues its worldwide expansion. Boucheron will be the high-luxury brand of our portfolio and we believe that its potential is enormous.”
Press release
