What Industry Is Chow Tai Fook in and How Is It Organized?

1. What industry is Chow Tai Fook in and how is it organized?

Before talking about what industry Chow Tai Fook Jewelry Group Limited (CTF) is in, let's define what is industry. Industry means the place we compete or in other words, the competitive arena that we are in. To better evaluate what industry we are in, we can ask ourselves what jobs customers are hiring us to do. Having a clear idea of what industry we are in will help it to evaluate other players and understand their strategic movements.

Referring back to CTF, it is in the luxury gold and jewelry market in the Chinese-speaking world, providing customers with the finest jewelry. Nevertheless, knowing that CTF competes in luxury jewelry market is not enough. Customers may hire CTF to produce some eye-catching ornaments to dress up themselves for some special occasions, or they hire CTF to signal others of their high status and wealth.

CTF is a jewelry retailer owned by Chow Tai Fook Enterprises, which is a famous brand in the Great China. It was first set up in Mainland China in 1929 by Chow Chi Yuen. CTF opened its first jewelry store in Macau in 1938. The following year it opened its second store in Hong Kong's Queen's Road Central. Young jewelry salesman Cheng Yutung made such an impression on CTF's owner Mr. Chow that he allowed Cheng to marry his daughter and take a leading role in the company.

CTF forayed into Mainland China in 1993 through a joint venture arrangement with a Wuhan company. With a license to sell gold, it opened its first shop in Mainland China in a franchised shop in Beijing. Then, CTF began the penetration into third tier cities in 2000 and fourth-tier cities in 2OO2. By 2002, there are 100 Point-of-Sales (POS) in Mainland China and in 2010, CTF opened its 1000th POS. In the year of 2013, CTF had established 1731 POS spreading over 400 cities with Mainland China.

2. What are CTF's core values, organizational structure and practices?

Its core values are sincerity, eternity and a missionary zeal, which leads CTF to become the most trustworthy Asian jewelry brand in the world. In addition, CTF portraits itself as a dream deliverer that help customers to fulfill their dream

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