Chow Tai Fook Jewellery Taps LVMH Executive Gabriela Ferreira in Luxury Market Push: A Strategic Move for Global Expansion and Brand Revamp

Henry Cheng's Chow Tai Fook Jewellery is aiming to boost its luxury standing by hiring an executive from LVMH. The jewellery store has brought on Gabriela Ferreira, formerly of Loewe, to increase the brand's appeal and manage its product assortment and distribution channels.

The Chow Tai Fook Jewellery Group, which is managed by Hong Kong magnate Henry Cheng's family, has chosen an executive from the LVMH's fashion label Loewe to spearhead its worldwide growth and enhance its attractiveness to high-end consumers.

Gabriela Ferreira, previously the general manager for Loewe in Southeast Asia and Oceania, has been appointed to spearhead the jewellery retailer's expansion into Southeast Asia and beyond, as per a Wednesday announcement. Her role will be to augment the brand's appeal and supervise its product assortment and distribution channels.

The decision is made as Chow Tai Fook, a leading firm in Cheng's family business, undergoes a logo redesign and refurbishes about 8,000 of its outlets. This is part of an effort to transform from a classic retailer to a high-end accessories brand.

This organization, which has experienced a 47% drop in its stock value this year, is grappling with rising gold prices. These steep prices have reduced the appetite for its primary income-generating gold items and have put a strain on profit margins. Additionally, a downturn in consumer spending in mainland China, its largest market, is further negatively impacting sales.

A refined brand image may attract more affluent consumers, who continue to have robust purchasing power. Leading luxury brands such as Hermès and Chanel have managed to withstand the general economic deceleration, primarily due to their emphasis on nurturing relationships with wealthy clientele.