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EQS-News / 19/12/2018 / 16:37 UTC+8
MEDIA RELEASE
*CHOW TAI FOOK JOINS TRACR PILOT*
_Participation of world-leading jewellery retailer extends platform's reach
in Asia_
*Hong Kong, 19 December 2018 - *Tracr, the end-to-end diamond industry
blockchain traceability platform being developed by De Beers Group in
collaboration with key industry stakeholders, today announced that Chow Tai
Fook Jewellery Group ("Chow Tai Fook") has joined the platform's pilot
programme.
Chow Tai Fook joins a range of other leading businesses from across the
diamond value chain in piloting the next generation asset-tracking platform
powered by blockchain and artificial intelligence. Chow Tai Fook will work
with Tracr to support the objective of continuing to enhance consumer
assurance over a diamond's traceability, provenance and authenticity.
Chow Tai Fook's participation will further extend the platform's reach into
the Asian diamond sector, in particular in Greater China. This will help
accelerate Tracr's ability to fulfil its mission of working with the
industry to build a digital ledger that spans the entire diamond pipeline,
helping to ensure the platform made by the diamond industry meets the needs
of all industry participants.
Bruce Cleaver, CEO, De Beers Group, said: "Chow Tai Fook is one of the
world's leading diamond jewellery retailers, with great experience and
expertise in the Asian retail sector. Chow Tai Fook's focus on providing
their customers with full confidence about their purchases makes them an
ideal participant as we continue to develop the Tracr pilot, and we are
delighted to welcome them on board."
Kent Wong, Managing Director, Chow Tai Fook Jewellery Group, said:
"Authenticity, provenance and traceability are increasingly important in the
jewellery sector, particularly for consumers who pursue to know the
jewellery they purchase supports their values and expectations. We are
thrilled to join the pilot led by De Beers Group and are committed to
continuing to be a leader in uplifting consumer experience and confidence.
We believe that our participation in Tracr will help ensure we are at the
forefront of this important issue."
Jim Duffy, General Manager, Tracr, said: "We're very excited to have Chow
Tai Fook on board and it's encouraging to see they recognise the
transformative potential of Tracr as we work to help increase trust
throughout the diamond industry. Chow Tai Fook's participation will help to
ensure that Tracr meets the needs of all types of businesses in a range of
different geographies. This is critical to Tracr's objective of establishing
traceability, provenance and authenticity for the diamond industry, which
consumers and businesses alike have told us is the new standard they are
looking for."
Tracr is focused on providing consumers with confidence that registered
diamonds are natural and conflict-free, improving visibility and trust
within the industry and enhancing efficiencies across the diamond value
chain. In addition, Tracr will work to complement and support the diamond
industry's existing initiatives and regulations to ensure consumer
confidence in diamonds.
- ends -
CONTACT
De Beers Group:
De Beers Group Press Office
Tel: +44 (0) 20 7430 3434
E-mail: pressoffice@debeersgroup.com
Chow Tai Fook Jewellery Group:
Investor Relations and Corporate Communications
Tel: +852 2138 8337
E-mail: IRCC@CHOWTAIFOOK.COM [1]
ABOUT TRACR
Tracr is an innovative, industry-focused blockchain platform developed for
the diamond industry by De Beers Group with support from corporate
investment and incubation firm BCG Digital Ventures. Tracr is the first
blockchain that creates a tamper-proof, immutable record of a diamond's
journey throughout the full value chain - from mine to cutter and polisher
through to the jeweller. For more information, visit www.tracr.com [2].
ABOUT DE?BEERS GROUP
De Beers Group is a member of the Anglo American plc group. Established in
1888, De Beers Group is the world's leading diamond company with expertise
in the exploration, mining and marketing of diamonds. Together with its
joint venture partners, De Beers Group employs more than 20,000 people
across the diamond pipeline and is the world's largest diamond producer by
value, with mining operations in Botswana, Canada, Namibia and South Africa.
As part of the company's operating philosophy, the people of De Beers Group
are committed to 'Building Forever' [3] by making a lasting contribution to
the communities in which they live and work, and transforming natural
resources into shared national wealth. For further information about De
Beers Group, visit www.debeersgroup.com [4].
ABOUT CHOW TAI FOOK JEWELLERY GROUP
Chow Tai Fook Jewellery Group Limited (the "Group"; SEHK stock code: 1929)
was listed on the Main Board of The Stock Exchange of Hong Kong in December
2011.
Founded in 1929, the Group's iconic brand "CHOW TAI FOOK" has been widely
recognised for its trustworthiness and authenticity, and is renowned for its
product design, quality and value. The success of the Group and its iconic
brand is rooted in innovation, craftsmanship and heritage. The Group also
holds other jewellery brands including T MARK, HEARTS ON FIRE, MONOLOGUE and
SOINLOVE, which are the first examples of a long term multi-brand strategy
rollout.
The Group's commitment to sustainable growth is anchored in its "Smart+"
strategy, which is in place to promote long term innovation in the business,
in people and in culture. Another asset underpinning sustainable growth is a
sophisticated vertically integrated business model. This supports the Group
by fostering excellence and extending opportunities along the entire value
chain to communities and industry partners.
With an extensive retail network in Greater China, Korea, Japan, Singapore,
Malaysia and the United States, and a fast-growing e-commerce business, the
Group is implementing effective online-to-offline ("O2O") strategies to
succeed in today's omni-channel retail environment.
Document: http://n.eqs.com/c/fncls.ssp?u=VTDLYOSWNC [5]
Document title: CHOW TAI FOOK JOINS TRACR PILOT Participation of
world-leading jewellery retailer extends platform's reach in Asia
19/12/2018 Dissemination of a Marketing Press Release, transmitted by EQS
Group.
The issuer is solely responsible for the content of this announcement.
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1: MAILTO:IRCC@CHOWTAIFOOK.COM
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(END) Dow Jones Newswires
December 19, 2018 03:38 ET (08:38 GMT)
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