Rock star Lenny Kravitz to the right of Baccarat owner Coco Chu and its ex-CEO Daniela Riccardi at the Baccarat Goldfinger party in Paris on September 8, 2017. Photo: Getty ImagesRock star Lenny Kravitz to the right of Baccarat owner Coco Chu and its ex-CEO Daniela Riccardi at the Baccarat Goldfinger party in Paris on September 8, 2017. Photo: Getty Images
Rock star Lenny Kravitz to the right of Baccarat owner Coco Chu and its ex-CEO Daniela Riccardi at the Baccarat Goldfinger party in Paris on September 8, 2017. Photo: Getty Images

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 court takes Baccarat into protective custody; creditors plan to seize assets, including a Hong Kong flat
  • Wave of Chinese acquisitions from 2016 to 2018 led to defaults and bankruptcy, with Fosun losing Cirque du Soleil and creditors wiping out HNA’s stake in Swissport

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Rock star Lenny Kravitz to the right of Baccarat owner Coco Chu and its ex-CEO Daniela Riccardi at the Baccarat Goldfinger party in Paris on September 8, 2017. Photo: Getty ImagesRock star Lenny Kravitz to the right of Baccarat owner Coco Chu and its ex-CEO Daniela Riccardi at the Baccarat Goldfinger party in Paris on September 8, 2017. Photo: Getty Images
Rock star Lenny Kravitz to the right of Baccarat owner Coco Chu and its ex-CEO Daniela Riccardi at the Baccarat Goldfinger party in Paris on September 8, 2017. Photo: Getty Images
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