- Yuyuan acquires French light luxury jeweler DJULA to expedite its efforts in Fashion & Lifestyle industry
- Release Time: Mar 20, 2020
On March 20, 2020, Shanghai Yuyuan Tourist Mart (Group) Co., Ltd. (“Yuyuan”), a Fosun International’s Fashion & Lifestyle flagship platform, announced that it had acquired a 55.4% stake in French light luxury designer jewelry brand DJULA for the consideration of RMB 210 million.
The acquisition is another critical move taken by Yuyuan to leverage its global resources to accelerate the growth of its Fashion & Lifestyle sector. Before that, Yuyuan had acquired an 80% stake in the International Gemological Institute (IGI), a world-renowned gemological training and diamond appraisal organization headquartered in Belgium in September 2018, purporting to complement its diamond portfolios, particularly its diamond setting business. Fosun’s acquisition of the French jeweler DJULA shows a change of its focus to the light luxury jewelry favored by young consumers. It is also an important move taken by Yuyuan Jewelry & Fashion Group to expand its brand presence and drive business growth through multiple brands.
A virtual signing ceremony held between Yuyuan and DJULA was attended by Huang Zhen, President of Yuyuan and Chairman of Yuyuan Jewelry & Fashion Group; Zou Chao, Vice President and Chief Financial Officer of Yuyuan; Wang Jin, Vice President and General Manager of Legal Department of Yuyuan; Zhang Jian, President of Yuyuan Jewelry & Fashion Group; Chen Xiaoyan, Vice President and General Manager of Brand Marketing of Yuyuan Jewelry & Fashion Group; Wang Lu, Assistant President and General Manager of Strategic Investment Department of Yuyuan Jewelry & Fashion Group, and Mr. Alexandre Corrot, the founder of DJULA.
Virtual signing ceremony
Zhang Jian, President of Yuyuan Jewelry & Fashion Group, signed the Equity Cooperation Agreement
“We are very pleased to enter into this partnership with DJULA, which enables Yuyuan to exchange business expertise and experiences with top fashion jewelers in Europe and the United States,” said Mr. Xu Xiaoliang, Co-CEO of Fosun International and Chairman of Yuyuan. “DJULA is fully prepared to bring its designer inspirations to the Chinese market. Yuyuan’s jewelry and fashion unit is poised to integrate DJULA’s design heritage with Chinese aesthetic values, which will certainly garner more attention from young consumers. In the meantime, Fosun’s global strategic layout will help DJULA improve its brand strength in the global light luxury fashion industry, which in turn will help Yuyuan jewelry and fashion to extend its reach to the global market.”
Mr. Huang Zhen, President of Yuyuan and Chairman and CEO of Yuyuan Jewelry & Fashion Group, remarked:
DJULA is known for its edgy and unique design. Years of unrelenting team efforts led by its founder has made the brand a trendsetter. DJULA also has distinctive brand marketing, with a focus on KOL (key opinion leader) and social media marketing, which perfectly caters to the needs of the Chinese market. In addition, this business alliance has complemented the light luxury portfolios for Yuyuan’s jewelry and fashion sector, which is bound to effectively drive overall business growth.
“There is a significant rise in the demand for French light luxury designer jewelry in China. DJULA is a hit among young consumers in Europe and the United States and has developed competitive edge in the international market. I hope it will also be well received in Chinese market,” noted Mr. Alexandre Corrot, the founder of DJULA. “Fosun and Yuyuan are familiar with the Chinese local market, so they can accurately portray Chinese consumers for DJULA to facilitate our development in China. Their global strategy and resource alignment will also bring new opportunities for DJULA to explore the international market.”
The virtual signing ceremony of the equity cooperation agreement between Yuyuan and DJULA the French light luxury jeweler was completed smoothly.
The Parisian jeweler brand DJULA was founded by designer Alexandre Corrot in 1994 and it is as romantic as it is edgy by combining delicate jewelry creations with modern, bold designs. Owing to its founder’s passion for art, the brand has blended modern and trendy designs with its unique brand heritage right from the start. Since 2014, DJULA has actively developed international business and expanded its retail scale. DJULA was launched in China in 2020. With Alexandre’s fabulous designs, DJULA won a number of awards at international design fairs and was reported in in top magazines such as Vogue (French, Italian, Spanish and Arabian Editions), Elle and Harper’s Bazaar. The brand is much sought after in the fashion circle and developed a cult following pursued by famous female celebrities around the world. In recent years, DJULA has been active on social media platforms, in particular its official website and overseas social media platforms, garnering up to 10 million followers and potential buyers so far. Through these