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The Chow Tai Fook Group<\/strong> is a privately held Hong Kong<\/strong>-based conglomerate specializing in luxury goods including jewelry and watches.<\/strong> Founded in 1929<\/strong>, the Group’s iconic brand is widely recognized for its reliability and authenticity, and is renowned for the design, quality and value of its products. A long-standing commitment to innovation and craftsmanship has contributed to the Group’s success<\/strong>, as well as that of its iconic brand. This success is based on their long-standing core values of “Sincerity, Eternity<\/strong><\/em>“.<\/p>\n <\/p>\n According to Deloitte<\/strong>‘s Global Powers of Luxury Goods study<\/strong><\/em>, Chow Tai Fook is the only Chinese player in the Top 10<\/strong>, behind French brands such as LVMH, Kering, Chanel <\/strong>and Herm\u00e8s<\/strong>. The Hong Kong-based jewelry conglomerate managed to generate $7.19 billion in luxury goods sales amid pandemic-related disruptions and gold price fluctuations.<\/p>\n <\/p>\n For the six months ended September 20, 2021, the group’s revenue jumped 79.1 percent to HK$4.4 billion<\/strong> (about $564 million). The group reached 10th place in the Deloitte ranking with with $7.19 billion generated in luxury.<\/p>\n <\/p>\n <\/p>\n Chow Tai Fook has focused in part on lower tier cities<\/strong>, which have seen an increase in disposable income and e-commerce spending. In the first half of 2021, the company added 624 outlets, half of which were in tier 3 and lower cities. In addition, the group continued its smart retail strategy to improve customer experience<\/strong>, including CloudSales 365<\/strong><\/em>, a CRM platform that works with WeChat<\/strong> to provide better in-store and post-sale communication.<\/p>\n <\/p>\n <\/p>\nHow to explain its success?<\/h2>\n
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