Anne Hathaway-Endorsed Chinese Jewelry Giant Implodes: Boss Flees, 200 Stores Shut, Stock Down 98%
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A Chinese jewelry company that once invited Hollywood star Anne Hathaway as its brand ambassador and expanded to more than 200 stores nationwide has suddenly collapsed into crisis. Qianye Jewelry, a publicly listed company, is facing a series of problems: its controlling shareholder Lin Mingjie and his wife have gone out of contact, many employees have not been paid, products have disappeared from major e-commerce platforms, online sales channels have effectively shut down, and business operations have come to a standstill. In just two trading days, the company’s stock price plunged 64%.
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