Coronavirus Latest News

How a high-society Chinese family’s takeover of French luxury brand Baccarat unravelled into a boardroom battle with creditors and seizure of assets

French luxury firm Baccarat has survived the Spanish flu, two world wars and the 1789 French Revolution. Now the changing fortunes of its distressed Chinese owner have prompted a French court to take the crystal maker into protective custody.Major shareholder Coco Chu has gone from partying with Lenny Kravitz at a Baccarat Goldfinger-themed party in Paris in 2017 to wrangling with creditors and being stripped of assets, including her multimillion-dollar flat in Hong Kong.Euronext-listed…

Read the original article at South China Morning Post

Related Articles

Back to top button
Close