Chow Tai Fook Jewellery Group, the largest jewellery 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 will 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 per cent decrease in sales for Chow Tai Fook in the third quarter. Mainland China specifically was affected, with sales declining by 20 per cent.
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