Huh - I didn't hear about this at all. I remember a few years ago (2016?) when BJWAF was bought out by Fiyta in a 51/49% joint venture. Seems like back in 2019 Sea-Gull was purchased by Fosun Group (mainly pharmaceutical company but they have fingers in pies as diverse as Club Med, Circque du Soleil, Wolford, Follie Follie etc.)
Seems like it was a 65/35% equity buyout - does anyone else have any information on this?
I can imagine that Sea-Gull might have issues during recent years as the Chinese economy slowed down - don't know how to feel about a non-watch (or even predominantly fashion/jewellery) group taking over the stakeholder majority (unlike the Fiyta JV or say a Richemont/LVMH/Swatch situation).
But hey - maybe it will be good for Sea-Gull if they can leverage the larger group's financial backing/international experience to expand presence/market?