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
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

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
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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