Chinese company Septwolves this year acquired an 80 percent stake (worth $36 million) in Karl Lagerfeld Greater China Holdings. Digital illustration by Jing Daily
At a time when the government is tightening control over capital outflows, Chinese companies have nevertheless been aggressive in acquiring foreign luxury brands. In 2015, Chinese enterprises spent over $103 billion on foreign brands. In just the first four months of 2017, they had already spent $92 billion.
For Western brands, a Chinese partner could be crucial for international expansion, providing strong financial backing and access to new sales channels, which are especially dynamic in China itself.
Below is a timeline featuring the most noteworthy luxury brand deals in 2017, from Baccarat to Karl Lagerfeld. June 1, 2017
Fortune Fountain Capital ? Baccarat

Baccarat Hotel New York?s Petit Salon is full of the crystal company?s products. (Courtesy Photo)

Last summer, Fortune Fountain Capital (FFC) finalized the acquisition of French luxury crystal maker Baccarat. FFC acquired an 88.8 percent stake for 164 million euros (US$184 million) from investment firm Starwood Capital Group and L Catterton, a private equity firm worth over $14 billion.
Established in 2011 by descendants of a famous calligrapher, Wang Xizhi, FFC started as a family wealth management house. The Beijing-based financial group now provides asset and equity investment. It has Assets Under Management (AUM) of RMB 50 billion, according to Y...