LVMH Group Watches & Jewelry Division Asia Pacific, an arm of the world's largest luxury products group purchased close to 50 million shares in Xinyu Hengdeli Holdings via the secondary market.
It now owns 3 percent stake in watch retailer and wholesaler Xinyu Hengdeli while the collaboration would boost sales of Zenith, Tag Heuer, Fendi and Dior watches.
LVMH's watch and jewelry business currently sees a three-fold increase in China each year while the division entered China only in 2001.
Now the company considers the China market to be a key focus for development.
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