Gangtai taps growing trend of Chinese consumers upgrading  consumption

Gangtai buys 85 percent of shares in Italian jeweler Buccellati to meet growing high luxury consumption

China's Gangta Group, which acquired an ltalian jewelry brand, is tapping the growing trend of Chinese consumers upgrading their consumption.

"Gangtai Holdings, as a part of Gangtai Group, aims at developing into a luxury brand management company, as Chinese consumers are increasingly pursuing a higher quality of life that will create a consumption market with huge potential," said Xu Jiangang, chairman and CEO of Gangtai Group.

The group purchased 85 percent of Buccellati shares in August, which allows the group access to the Italian jeweler's design and production process of jewelry and its global sales channels.

Buccellati established its presence in China by opening its first boutique in the country today.

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