Chow Tai Fook: A Chinese Jewellery Giant Changing Tactics
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Case Code: MKTG413 Case Length: 25 Pages Period: 1929-2020 Pub Date: 2020 Teaching Note: Available |
Price: Rs.500 Organization: Chow Tai Fook Jewellery Group Limited Industry: Retailing Countries: Hong Kong, China,United States, Singapore, Taiwan Themes: Channel Strategy & Development, Marketing Strategy, Branding Strategy, Product Management |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
In September 2019, China-based Chow Tai Fook Jewellery Group Limited (CTF), the world's largest publicly traded jewellery chain, launched its Peace Angel collection to celebrate its ninetieth anniversary. The collection was released in collaboration with Platinum Guild International (PGI).
Available exclusively in platinum, the collection included more than 20 different designs. It was CTF’s first collection that combined two materials – platinum and enamel – in the distinctive red of the CTF brand. Huw Daniel, CEO of PGI, said, "Chow Tai Fook has always been a leader in platinum jewellery and we are thrilled that they should choose to celebrate such an auspicious occasion by yet again pushing the boundaries of platinum innovation."
CTF was founded in 1929 by Chow Chi-yuen (Chow) in Guangzhou, China. The term Chow Tai Fook meant good luck or good fortune in Cantonese. During the 1930s, CTF relocated its business to Hong Kong and Macau due to the Second Sino-Japanese War. There, the company achieved immense success and was instrumental in developing several innovative business practices that went on to revolutionize the jewellery industry in those regions.
Following the boom in the Chinese economy in the 1990s, the company opened its first Chinese store in Beijing. The company's Chow Tai Fook brand was primarily targeted at the older wealthy customer. As China's economic reforms ushered in prosperity in the interiors of the country, CTF expanded operations into Tier I and Tier II cities. Gradually, CTF went on to establish a large retail footprint in China, apart from venturing into e-commerce and m-commerce. The company then went in for an Initial Public Offering (IPO) in 2011and raised US$ 2 billion...
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