Hong Kong-based Chow Tai Fook Jewellery Group Limited has announced the opening of a North American business hub in Boston, Massachusetts, which will be led by Hearts on Fire brand President Caryl Capeci.
The company, which has been listed on the main board of the Hong Kong Stock Exchange since December 2011, believes that Chow Tai Fook North America is positioned to be a leading single-source wholesaler on the market.
The subsidiary will seek to leverage Chow Tai Fook’s technological innovations to drive the company’s profitability in North America and strengthen its retail business in the region, offering consumers customized, specialty collections and private label lines in the diamond and fine jewelry segments.
“As we celebrate our 90th Anniversary, we look forward to making a further contribution to the jewelry industry,” said Kent Wong, managing director of Chow Tai Fook Jewellery Group, in a release. “Our know-how and scale, combined with the deep local knowledge and experience of the North American team allow us to deliver deep value to the retail jewelers in North America, setting us apart from the other wholesale partners.”
Chow Tai Fook North America’s portfolio currently consists of the Hearts on Fire and Mémoire diamond jewelry brands, and it is hoped that the appointment of the president of the former as the subsidiary’s CEO will facilitate the hub’s integration in the wider company structure.
Capeci has been president at Hearts on Fire since October 2015, having first joined the brand as VP of marketing in 2007. Prior to this, the Dickinson College graduate spent seven years as EVP group account director at global advertising agency Arnold Worldwide
“It’s an exciting time to be part of the global growth of the group and establish the North American business hub in our hometown of Boston,” she commented. “Our ability to leverage the group’s technology and retail innovation empowers us to partner with retail jewelers in new ways to support their businesses today and position them for greater success tomorrow.”
Outside of the US, Chow Tai Fook Jewellery Group also operates through an extensive retail network in Greater China, Japan, Korea, and Southeast Asia, and owns brands including Chow Tai Fook, T Mark, SoInLove and Monologue.