Chapter Five: The One-Yuan Acquisition

Her first opportunity was Veylan, a French leather house nearing bankruptcy. Obsidian's clients held hundreds of vintage Veylan trunks. If the brand liquidated, its authentication standards and repair archives would fall to creditors. Mingzhu suggested buying the archives. Linchuan offered Jianwei the entire company for one yuan—and two hundred million yuan in debt. “The most expensive yuan I have ever seen,” Jianwei said. “And the fastest doorway to the power of setting brand value.” Negotiations took place in Shanghai's old consulate. Veylan's Asia president, Robert, demanded to retain control. The bank demanded a guarantee from Luminous. The craftspeople refused any plan involving layoffs. All three claimed they wanted money.