Don't want to rely on Golden Chow Tai Fook to buy jewelry brand Ta Siqi

The decline in turnover did not stop Chow Tai Fook's enthusiasm for buying and buying. Since the US$150 million last year bought the American diamond ring brand Heartson Fire, the world's largest listed jeweler wants to buy Japanese jewelry brand Ta Siqi.

Bloomberg quoted people familiar with the matter, several companies led by Chow Tai Fook are considering bidding for Japanese jewelry brand Tasaki.

The report quoted insiders of MBK Partners Ltd., a private equity firm holding Taschi, as saying that the company had asked companies to bid in the first round before Friday. The transaction price may exceed 25 billion yen (about 1.248 billion yuan), and the sale agreement will be reached as early as next month.

Founded in 1954, Taschi, based in Kobe, Japan, specializes in pearls and diamonds. It has pearl farms in Japan and Myanmar, and has branches in Hong Kong, Shanghai, Taipei, and Europe and America. Its creative director, Thakoon Panichgul, is loved by the first lady of the United States, Michelle Obama.

In 2013, Ta Siqi reversed the loss for eight consecutive years and achieved profitability. In March of this year, he raised his net profit forecast for this fiscal year to 1.65 billion yen (about 82 million yuan).

Chow Tai Fook is one of the world's highest-priced listed jewellery companies. It is mainly engaged in gold, platinum and jewellery. Its annual sales rank first in Hong Kong and the Mainland of China. It has a complete chain from raw material procurement to retail in China and Singapore. There are 2,257 branches in Malaysia and other countries.

According to the FY2015 Interim Results Report released by Chow Tai Fook Group, the Group's turnover in the first half of FY2015 fell 22.4% to HK$29,399.5 million (approximately RMB23.559 billion). Chow Tai Fook attributed the high base benefit to the increase in the sales of gold products in the first half of FY2014 due to the sharp drop in international gold prices.

Obviously, the decline in turnover has not hindered Chow Tai Fook's process of diversifying product categories. At present, sales of jewelry inlaid jewelry account for 28.3% of Chow Tai Fook's turnover, while gold products account for 49.6%. Chow Tai Fook intends to seize more business opportunities outside of its gold products.

Just in August 2014, Chow Tai Fook successfully acquired the entire shareholding of American diamond jewelry company Heartson Fire, which is mainly engaged in high-end wedding and fashion jewelry products. Heartson Fire fills Chow Tai Fook's shortcomings in advanced diamond jewelry, and Taschi, which has pearl farms and branches in several countries, will definitely help Chow Tai Fook to take a big step in the field of pearl jewelry.

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