Jan 20, 2020

Chow Tai Fook’s Acquisition of Coloured Gemstone Jewellery Retailer Enzo Underlines its Multi-Brand Strategy

Chow Tai Fook Jewellery Group recently announced the acquisition of “the entire equity interests” in Enzo Jewelry Inc. This, Chow Tai Fook said, would enrich “the Group’s multi-brand portfolio to meet today’s ever-changing customer expectations”.

Commenting on the Acquisition, Adrian Cheng, Executive Director of Chow Tai Fook Jewellery Group, said, “We are delighted to have Enzo joining our Chow Tai Fook family. Distinguished by exquisite craftsmanship and creativity, Enzo will continue its niche position as a natural coloured gem specialist to complement the Group’s multi-brand strategy, enabling us to further venture into the coloured gemstone arena. On the other hand, Enzo can leverage Chow Tai Fook’s retail and industry know-how to generate greater values to its customers.”

Enzo was founded in 2004 as a luxury coloured gemstone jewellery brand. Stressing that Enzo and Chow Tai Fook share the same commitment to “craftsmanship, creativity and pursuit of best practice for (the) industry’s sustainable development”, Chow Tai Fook Jewellery Group noted that the brand is  renowned for its exceptional craftsmanship and jewellery creations -- inspired by nature; and the emotions evoked by it --  which are stylish and contemporary.

Enzo presently has about 60 points-of-sale (POS) in Mainland China, primarily located in Tier I and II cities. “The brand aims to expand its footprint further in Mainland China through both self-operated and franchise models,” the Group said. “With a solid brand presence on major e-commerce platforms in Mainland China, including Tmall, and, Enzo keeps abreast of the evolving needs of Generation Z and mass luxury consumers and offers them a diverse and creative product portfolio.”

Enzo’s vast range of iconic collections include those such as Ocean, Peplum, Rainbow Bouquet and The Palace Museum. They are made resplendent with the use of natural coloured gemstones. Enzo’s jewellery is available at price points ranging from below RMB 3,000 to RMB 50,000 and above.    

The transaction, which closed on January 17, 2020 will have no material financial impact on the Group’s consolidated net assets or operating result for the year ending March 31, 2020, Chow Tai Fook revealed.

Pic Cap: Enzo store in Shanghai

Pic Courtesy: Chow Tai Fook Jewellery Group