(Yicai Global) Jan. 9 -- Chinese jeweler CHJ Industry and Asian equity investment fund MBK Partners have joined hands to maximize growth in the women's high-end jewelry market.
MBK will invest in a CHJ-affiliated luxury beauty firm named Shanghai Siyanli Industrial that will then work with the jeweler to build a leading women's beauty care brand in China, Guangdong-based CHJ said in a statement yesterday. CHJ and MBK will also partner up to find investment opportunities for the jeweler in the women's fashion sector.
By establishing a closer working relationship, CHJ and Siyanli can enhance their brand influence, share memberships, customer preferences and membership bonus points, run joint promotions and even rent premises together, the statement added.
MBK is one of the largest direct equity firms in Asia and has made a number of successful investments in the consumer goods sector, including one in Homeplus, a leading South Korean multi-channel retailer, and another in Tasaki, Japan's second-largest jeweler.
Editor: James Boynton