Chow Tai Fook

Summary

Chow Tai Fook Jewellery Group is one of the world’s largest jewelry companies with total assets estimated at $8 billion. The company operates more than 2,200 stores across five hundred cities worldwide including Hong Kong, mainland China, the U.S., Singapore, Malaysia and South Korea. It is also strengthening its e-commerce business. The jeweller was founded in 1929 and listed on the Hong Kong Exchange in 2011.

History

In 1929, Chow Chi-Yuen opened a modest jewellery store in Guangzhou, shifting to Portuguese Macau in 1940, to British Hong Kong after the breakout of Second Sino-Japanese War, and to the establishment of the People’s Republic of China in 1949. The company returned to Mainland China after the market reforms of the Eighties.

Chow Chi-Yuen’s son- in- law Cheng Yu-Tung took over the business in 1956 and transformed it into a diversified group including extensive hospitality. Chow Tai Fook Jewellery Group Ltd., which operates as an investment holding company, engaging in the sale of jewellery through its subsidiaries. ‘Chow Tai Fook Jewellery’ is its core business i.e. classic authentic jewellery at reasonable prices. ‘House 1929’ provides artistic jewellery; ‘Hearts On Fire’ is the group’s US-based premium diamond brand; ‘So In Love’ taps into the affordable jewellery segment; ’Monologue’ satisfies millennial’ demand for fashion jewellery. ”The rollout of a multi-brand strategy empowers us to provide diversified product offerings targeting multiple customer segments and expanding our overall market share” said Managing Director Kent Wong, per CEO Magazine.

Listed on Hong Kong Stock Exchange in December 2011, a long-term commitment to heritage, creativity and craftsmanship contributes to its success and a comprehensive retail network in Greater China, Japan, Korea, Southeast Asia and the US besides an e-shop is its strategy to succeed in today’s omni-channel retail ambience. In fact, Cheng Yu-tung and his son Henry were the rare father and son winners of Hong Kong Gold Bauhinia Medal for service to the city.

Per Forbes, “Henry Cheng succeeded his late father, Cheng Yu-tung, as Chairman of the family flagship firms Chow Tai Fook Jewellery and New World Development. At least nine family members work in the group’s network of enterprises, including Henry Cheng’s Harvard-educated children Adrian and Sonia. Adrian Cheng is the vice chairman of New World Development and Sonia Cheng is CEO of Rosewood Hotel Group, acquired by New World in 2011.”

Vision

To become the most trusted jewellery group in the world.

Mission

The Group’s commitment to sustainable growth is anchored in its “Smart+” strategy, which is in place to promote long term innovation in the business, in people and in culture.

Recognition and Awards

Chow Tai Fook Jewellery Group is recognised as one of the world’s largest jewelry companies with total assets estimated at $8 billion. The company operates more than 2,200 stores across five hundred cities worldwide.

Leadership Team

Chairman: Henry Cheng
CEO: Siu Kee Wong
MD: Kent Wong

References

• Official Website Chow Tai Fook
• LinkedIn profile of Chow Tai Fook LinkedIn
• Chow Tai Fook store closures Vogue Business
• Instagram profile of Chow Tai Fook Instagram
• Meet the billionaire shaking up Hong Kong’s cultural scene Vogue
• Facebook profile of Chow Tai Fook Facebook
• Twitter profile of Chow Tai Fook Twitter
• Chinese whispers Jing Daily
• Chinese firm with BVI links buys Nassau mega-resort
• Sonia Cheng Opens New World Hotels For The Family Empire Forbes
• Youtube profile of Chow Tai Fook Youtube
• The Pink Star: One Of The World’s Great Natural Treasures Sotheby’s
• Wikipedia page of Chow Tai Fook Wikipedia
• Chow Tai Fook Jewellery Group Ltd. Nikkie
• Chow Tai Fook Jewellery Forbes
• Hong Kong’s Chow Tai Fook kicks off mainland China expansion South China Morning Post
• Pink Star diamond dazzles at Sotheby’s auction FT