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Chow Tai Fook: Fulfilling the Chinese Dream
內容大綱
Chow Tai Fook (CTF) is China's largest jewelry retailer by market capitalization, with reported sales of USD7.4 billion in fiscal year 2013 and is less known to Westerners. Within mainland China, the Hong Kong-based brand was better known than other international jewelry brands such as Bulgari and Tiffany. CTF's aggressive expansion strategy in China aimed to have 2,000 point-of-sales outlets by the end of 2014. Faced with rapidly changing demographic, social, economic, and digital landscapes within Mainland China, Kent Wong, the Managing Director of CTF, is challenged to fine-tune CTF's operation and marketing strategies in order to sustain its leading competitive position. The company is also facing some severe headwinds that could slow down its growth path. One of the biggest hurdles is the anti-graft drive initiated by the Chinese President to stamp out corruption among government officials. Many analysts fear that this campaign would have negative or even devastating consequences for many luxury goods companies like CTF, especially for goods associated with conspicuous consumption.