Brand Management
Chow Tai Fook: A Chinese Jewelry Giant Changing Tactics
Article Details
| Pub. Date | : June, 2020 |
|---|---|
| Product Name | : The IUP Journal of Brand Management |
| Product Type | : Article |
| Product Code | : IJBRM20620 |
| Author Name | Koti Vinod Babu and Namratha V Prasad |
| Availability | : YES |
| Subject/Domain | : Marketing |
| Download Format | : PDF Format |
| No. of Pages | : 25 |
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Abstract
The case talks about the change in tactics adopted by the world's largest publicly traded jewelry chain, the China-based Chow Tai Fook Jewelry Group Limited (CTF), in response to the changing economic conditions in China. The case starts out by describing CTF's early days in Hong Kong and the business practices it followed to revolutionize the jewelry industry there. It then documents CTF's meteoric rise in China, which the company entered in the days following the economic boom in the country in the 1990s. Later, the case describes in detail the strategy undertaken by CTF to combat the poor economic scenario in China in the 2010s. The company not only changed its retail strategy but also adopted a multi-brand strategy to serve newer customer segments. The case then describes how CTF leveraged technology to improve its offerings. It also takes a look at the competition faced by CTF and the measures it was taking to emerge as a global jewelry brand.
Description
In September 2019, China-based Chow Tai Fook Jewelry Group Limited (CTF), the world's largest publicly traded jewelry chain, launched its Peace Angel collection to celebrate its 19th anniversary (See Exhibit 1). The collection was released in collaboration with Platinum Guild International (PGI).3
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