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MajorsMay 09, 2019
Hearts On Fire Owner Expanding in North America
Chow Tai Fook is opening a “business hub” in Boston and has tapped Hearts On Fire President Caryl Capeci to run it.
Boston—Hearts On Fire owner Chow Tai Fook is expanding in North America, opening a “business hub” in Boston with plans to sell its jewelry and technology to U.S. retailers.
Chow Tai Fook Jewellery Group, which also owns Mémoire, announced its plans Tuesday, stating that through the new Chow Tai Fook North America it will “offer customized, specialty collections in the diamond and fine jewelry segments, as well as private-label offerings, to address the evolving needs of jewelry consumers.”
Chow Tai Fook Jewellery Group, which also owns Mémoire, announced its plans Tuesday, stating that through the new Chow Tai Fook North America it will “offer customized, specialty collections in the diamond and fine jewelry segments, as well as private-label offerings, to address the evolving needs of jewelry consumers.”
Hearts On Fire President Caryl Capeci has been named CEO of Chow Tai Fook North America.
In an email to National Jeweler Thursday, the company explained that “customized” refers to programs for retailers that are not “one size fits all” but designed for specific needs.
The company also confirmed that in addition to making private-label jewelry, Chow Tai Fook could bring some of its brands that are currently sold only in Asia to North America.
Its labels include “T-Mark,” a brand that, like Forevermark, is marketed as being traceable from mine to market, and “SoInLove,” as well as the CTF Watch brand.
Technology-wise, Chow Tai Fook pointed to the RFID tags and “Smart Trays” it uses at retail counters and the patented nano-inscription blockchain technology deployed for T-Mark as possibilities for the market here.
“Through CTF North America, we will be leveraging experiences like these to build compelling solutions for our clients in North America,” the company said. “The innovations we are focused on are areas that will drive profitability for retail jewelers, using automation and tech platforms.”
Heading the new division will be Hearts On Fire President Caryl Capeci, whose official title is now CEO, Chow Tai Fook North America. Capeci will lead the operations of the new company while continuing to oversee Hearts On Fire’s global wholesale business.
She said: “Our mission is to strengthen and drive profitability for the North American jewelry retailers. 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.”
For Mémoire, Peter Smith, who came on board as president in January, will continue to head the business in partnership with founder Doug McDowell.
Based in Hong Kong and publicly traded, Chow Tai Fook Jewellery Group has 3,134 points of sale worldwide, including Hearts On Fire. The company was founded in 1929 and is celebrating its 90th anniversary this year.
There is currently one Chow Tai Fook store in the United States—a shop-in-shop located within the Macy’s department store in Flushing (Queens), New York.
Based in Hong Kong and publicly traded, Chow Tai Fook Jewellery Group has 3,134 points of sale worldwide, including Hearts On Fire. The company was founded in 1929 and is celebrating its 90th anniversary this year.
There is currently one Chow Tai Fook store in the United States—a shop-in-shop located within the Macy’s department store in Flushing (Queens), New York.
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