Hong Kong-listed Chow Tai Fook Jewellery Group has appointed Gabriela Ferreira as general manager, international to lead the jeweller’s expansion in Southeast Asia and other markets.
Ferreira joins from Loewe, where she was general manager for Southeast Asia and Oceania, based in Singapore. Ferreira formerly held roles at Adidas Hong Kong, PVH Asia Limited (Calvin Klein) and Jet-Speed Air Cargo Forwarders.
In this newly-created role, Ferreira will be responsible for the group’s growth strategy in Southeast Asia by building a team in Singapore to support business expansion in the region. She will report directly to Chow Tai Fook Jewellery’s managing director Kent Wong.
According to a Sept 4 announcement, Ferreira will focus on enhancing brand desirability and identifying new point-of-sale (POS) growth opportunities for Chow Tai Fook Jewellery. She will oversee the group’s product mix and direct retail, wholesale and travel retail channels in Southeast Asia and internationally.
The group says it is drawn to a range of “compelling dynamics” in Southeast Asia, including the rising middle class and projected economic growth in the region, coupled with the recovery in tourism and sustained local market demand for jewellery.
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Chow Tai Fook Jewellery has seven points of sale in Singapore, seven in Malaysia, three in Thailand, two in the Philippines, two in Vietnam and one in Cambodia, as at June 30.
Outside of Southeast Asia and Hong Kong, the group has two points of sale in Japan, seven in South Korea, two in Canada and one in the US.
As at March 31, the group’s retail operations remain most heavily concentrated in mainland China, where it has 7,640 points of sale, along with 68 in Hong Kong, 20 in Macau and 20 in Taiwan.
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“In line with our strategic direction, Gaby will drive the expansion of Chow Tai Fook Jewellery’s retail network in popular travel retail markets and in areas with a significant customer population who understand and appreciate Chinese culture, art and beauty, all of which Chow Tai Fook Jewellery brings to life through its collections, brand and overall customer experience”, says Wong.
He adds: “Gaby’s industry expertise will be invaluable as we continue to explore opportunities in existing and new international markets where we see strong existing and future demand for our collections.”
Listed since 2011, the jeweller is a subsidiary of the Chow Tai Fook group, a Hong Kong-based, privately-owned conglomerate.
One of the conglomerate's associates is New World Development, which has been listed in Hong Kong since 1972. Last week, New World Development said it expects to post a loss of as much as HK$20 billion ($3.35 billion) for the financial year ended June 30 — its first annual loss in two decades. New World Development will release its full-year results this month.
For the financial year ended March 31, Chow Tai Fook Jewellery posted revenue of HK$108,713 million, 14.8% higher y-o-y. Core operating profit rose 28.9% y-o-y to HK$12,163 million, while earnings per share rose 20.7% y-o-y to 65 Hong Kong cents.
As at 4.08pm, shares in Chow Tai Fook Jewellery are trading 16 Hong Kong cents lower, or 2.54% down, at HK$6.14. The stock has slid some 46% year to date.
Photos: Chow Tai Fook Jewellery Group, Bloomberg
