With Gucci Bags and Dyson Appliances, Evergrande Wooed Retail Investors

With Gucci Bags and Dyson Appliances, Evergrande Wooed Retail Investors
Cranes stand next to unfinished residential buildings at the Evergrande Oasis, a housing complex developed by Evergrande Group, in Luoyang, China on September 15, 2021. Carlos Garcia Rawlins/Reuters
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SHANGHAI—Lured by the promise of yields approaching 12 percent, gifts such as Dyson air purifiers and Gucci bags, and the guarantee of China’s top-selling developer, tens of thousands of investors bought wealth management products through China Evergrande Group.

Now, many fear they may never get their investments back after the cash-strapped property developer recently stopped repaying some investors and set off global alarm bells over its massive debt.