Chow Tai Fook Jewelery Group, the largest jewelery retailer in China, has appointed Kent Wong as the new executive director for mainland China following the sudden retirement of Chan Sai-Cheong.
On Monday the company, which oversees more than 5,900 stores, confirmed that Sai-Cheong would retire due “personal reasons of a private nature.”
Wong is currently an executive director overseeing Chow Tai Fook’s Hong Kong and Macau operations and has worked with the company since 1977.
“Sai-Cheong has developed and led a committed team, and I thank him for leaving the company in a solid position as we are poised for future growth,” said Henry Cheng, chairman of Chow Tai Fook.
“Our transformation journey will further elevate our brand, driving quality growth and operational resilience.”
The impact of pandemic restrictions spurred a 19 percent decrease in sales for Chow Tai Fook in the third quarter. Mainland China was specifically affected, with sales declining by 20 percent.
More reading
Pandemic restrictions damage Asian jewelry retail sales
Significant sales jumps for Chow Tai Fook and Luk Fook
Chinese jewelry chain accused of organized crime association
Luk Fook aiming for rapid expansion
Sales decline for Chow Tai Fook
China’s largest jewelry retailer reports strong sales despite lockdowns
