Chow Tai Fook Jewelry Group Hires Gabriela Ferreira to Lead World Push

China’s largest jewelry retailer Chow Tai Fook Jewelry Group Ltd. has appointed an government from LVMH’s vogue model Loewe to guide a worldwide growth and enhance its enchantment to luxurious buyers.

Gabriela Ferreira, who served as basic supervisor for Southeast Asia and Oceania at Loewe, can be in control of Chow Tai Fook’s push additional into Southeast Asia and different markets, the corporate mentioned in an announcement Wednesday. She’s going to deal with enhancing model desirability and oversee the jeweller’s product combine and gross sales channels within the area and internationally, it mentioned.

The appointment comes as Chow Tai Fook, a flagship firm of Hong Kong billionaire Henry Cheng’s household empire, has revamped its brand and is renovating some 8,000 of its shops in a bid to restyle itself from a conventional gold jewelry retailer right into a luxurious equipment model.

The group, which has seen its shares plunge 47 p.c this 12 months, is dealing with growing challenges from surging gold costs which have curbed demand for its important revenue-generating gold merchandise and squeezed revenue margins. A shopper spending droop in China, its largest market, is additional weighing on gross sales.

An upgraded picture might assist the model draw extra rich buyers whose spending energy stays robust. Prime luxurious manufacturers like Hermès Worldwide SCA and Chanel have remained resilient towards the broader slowdown, largely due to their deal with cultivating high-net-worth prospects. By diversifying into Southeast Asia, Chow Tai Fook additionally appears to be like to seize the potential of among the world’s fast-growing tourism and middle-class shopper markets.

The corporate will look to Ferreira to drive the growth of its retail community in standard journey retail markets, based on the assertion.

Co-led by Henry Cheng’s daughter Sonia Cheng, Chow Tai Fook is at present the biggest listed firm by market capitalisation within the household’s sprawling enterprise empire. The highlight on the household has grown in latest months after Henry Cheng, who stays Chow Tai Fook’s chairman, mentioned he was nonetheless searching for a successor.

By Shirley Zhao

Chow Tai Fook: Persuading Purchasers To Pay a Premium

At one of many largest jewellers on the earth, Kent Wong Siu-Kee is targeted on mainland China and different dynamic Asian markets to influence patrons of unbranded jewelry to as an alternative select Chow Tai Fook.