Kering appoints Jinqing Cai president of Greater China
Long-established in China, Kering has appointed a new president for brand activities in Greater China (including China, Hong Kong, Macao).
As of September 10, Jinqing Cai, who will be based at the group's headquarters in Shanghai and who will report to chairman and CEO Jean-François Palus, will aim to "strengthen the existing corporate structure specifically dedicated to supporting the long-term development of Kering’s luxury Houses in Greater China," the French luxury giant said in a statement.
The 48-year-old leader was head of Christie's China since 2012, where she became chairman of the board. Originally from Beijing, Jinqing Caroline Cai was educated in the United States (Wellesley College and Princeton University) and, after starting her career in New York, joined the Chinese capital in 2002 to create the PR firm New Alliance Consulting International. She then participated in the launch of the Beijing-based Brunswick Group. A specialist in linking local actors and international groups, she will bring her expertise and contacts to François-Henri Pinault Chinese teams.
“Kering started to invest in Greater China some time ago and had built the foundations of a long-lasting and successful business, while continuously reinforcing our relationships with local partners,” the CEO said. “I am very pleased with the appointment of Jinqing Cai, which is a further testament to our long-term commitment in Greater China.”
Gucci is the group’s first brand to open a store in China, in 1997. Since then, luxury brand sales have exploded in the market. Estimated at 20 billion euros for 2017, it has grown 18% at a constant exchange rate from 2016 to 2017.
The Kering Group achieved a turnover of 10.816 billion euros in the last financial year.
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