News On October 16, 2008, Chow Tai Fook confirmed the take over of Milus, who was since 2002 part of the Peace Mark Group. For the Chow Tai Fook Group based in Hong Kong (CTF Group) the acquisition of Milus is a great opportunity to complement its portfolio of luxury products with a high end watch brand.
The CTF Group is a substantial private enterprise established and owned by Dr Cheng Yu Tung and his family. Total assets of the Group exceed US$5 billion. The CTF's businesses are worldwide, with over 80,000 employees. It operates under two principal companies: Chow Tai Fook Enterprises Limited - primary focus is investment - and Chow Tai Fook Jewellery Company Limited - retailing of diamond and gold jewellery.
With nearly 80 years history, the Chow Tai Fook Jewellery Company incorporates its heritage of design excellence and distinct craftsmanship and is one of the top of mind jewellers amongst high quality fine jewellery. Currently, it has over 700 retail outlets and franchises in over 60 cities in China, Hong Kong, Macau, Taiwan and Malaysia. The company's annual total sales exceed US$1 billion.
The Milus brand, founded in 1919 in Biel/Bienne, has its own subsidiaries in Hong Kong, USA and Germany and is represented in more than 40 countries by the most renowned distribution partners.
October 27, 2008