Country / Region: Hong Kong
About Chow Tai Fook Jewellery Group Ltd:
Founded in 1929, the iconic brand “Chow Tai Fook” of the Group has been widely recognised for its trustworthiness and authenticity, and renowned for product design, quality and value. The legacy of the Group and its iconic brand is rooted in innovation, craftsmanship and heritage. Chow Tai Fook has spread its presence in more than 500 cities across Greater China, Singapore, Malaysia, Korea, Japan and the US. Decades have passed and generations have come and gone; still, Chow Tai Fook, with its current roster of 30,000 employees, continues to stand the test of time.
What the judges have to say:
With Chow Tai Fook’s extensive retail network and buying power, it is hard to believe that they would invest USD 3.8 million in automated diamond polishing machineries in their Shunde facilities instead of outsourcing it to third parties. CTF is actually one of the very few in the industry, and the only Chinese jewellery company, that possesses three sightholders’ qualifications from De Beers, Rio Tinto Group and Alrosa; hence it is strategically important to keep the polishing and cutting of diamond in-house and in China.
Upon full installation, over 80% of diamonds can be polished by automation. This is a way to combat rising labour cost and diminishing interest of young people entering the polishing and cutting sector.
The overall operational efficiency, productivity and better-quality control would enable CTF to response quickly to evolving market dynamics and customer demand, and further solidify their leading position.