Chinese Jewelry Group Diversifies Into Vineyard Investments
Tesiro, one of the most well-known Chinese Jewelry suppliers in the world, has bough a wind chateau with a thriving vineyard in France, particularly in the world famous Bordeaux region. The move comes as a surprise considering expectations that Tesiro would dig deeper into the jewelry industry after growth in 2010 is expected to lead to a drop in 2011 sales due to the rocketing prices of gold in world markets.
But this is not what Shen Dongjun, Tesiro group managing director has in mind. "The group sees this as a choice of quality. We're embarking on a course of bringing the wine up a level," said Dongjun as he tries to expand the company's business interests by adding a steady source of win supply in China. The purchase will look to grow Tesiro's business even further; currently it employs over 3,000 workers in 400 jewelers in Southeast China.