Sunday, September 1, 2013
Syarikat Global Emas China : Chow Tai Fook (Jualan USD3.4 bilion 2012)
Chow Tai Fook Jewellery Company is a jewellery retailer owned by Chow Tai Fook Enterprises. The brand is popular in the Chinese-speaking world. The store has retail outlets in several countries, including over 150 retail outlets in mainland China. (Founder Chow Chi Yuen-1929). By 2010 September, there were 1,000 chain stores in mainland China (including franchisees and its own outlets, and the Chow Tai Fook set up its objective of opening 2,000 chain stores in mainland China by the year of 2020. Chow Tai Fook or CTF, plays a leading role in its market segment for a long time since it foundation, esp. from 1997.
Chow Tai Fook ranks among China's most sought-after brands. A study by CLSA of the most-searched brands on Baidu, China's largest Internet search engine, placed Chow Tai Fook fifth, just below Louis Vuitton, Chanel, Gucci and Coach and ahead of like Prada, Cartier, Tiffany and Rolex.
Chow Tai Fook, traces its history to Macau, the former Portuguese colony turned gambling mecca, where jeweler and gold trader Chow Chi Yuen gave it a name that roughly translates as good fortune.
The company's now 86-year-old chairman, Cheng Yu-tung, married Mr. Chow's daughter and moved to Hong Kong to expand the family business. Mr. Cheng's son, Henry Cheng, currently presides over a multibillion-dollar real-estate, retail and transportation empire known as New World Development Ltd. 0017.HK +0.74%
The family's third generation is also involved in the business, including Sonia and Adrian Cheng. Both are Harvard alumni and Adrian is a former Goldman Sachs GS -0.98% banker who is spearheading the jeweler's push into high-end diamonds and other gems so they are less dependent on lower-margin gold sales. The generational shift is one reason for the IPO, in which the family will sell between 10.5% and 13% of its stake.
Chow Tai Fook's size and rapid growth are the big draw for investors. People familiar with the matter say sales were $4.5 billion in the last fiscal year, which ended in March, up 53% from the year before, while profits were $464 million, up 64%.
In the current fiscal year, sales are expected to rise 71% to $7.7 billion and profits up 80% to $835 million. That growth is expected to slow slightly the next year. The next-largest pure-play jewelers are Tiffany, with sales of $3.09 billion in its last fiscal year, which ended in January, and Signet Jewelers, SIG -0.90% owner of Kay Jewelers in the U.S. and H. Samuel in the U.K., with revenue of $3.4 billion last year. Signet has 1,857 outlets, more than Chow Tai Fook.
The jewelry companies owned by Richemont, including Cartier and Van Cleef & Arpels, had sales last year of $4.73 billion, and have grown 34% so far this year, putting Chow Tai Fook slightly ahead.
.....Let prays that CTF become minter of first modern coin currency for chinese people !