Milus Acquired By Chow Tai Fook Group

Luxury watch brand Milus has been acquired by the Chow Tai Fook Group (CTF).  The takeover by the CTF Group follows the recent provisional liquidation of the bankrupt Peace Mark Group, which owned the Milus brand since 2002.  

The Chow Tai Fook Group is a global enterprise owned by Dr. Cheng Yu Tung, which employs over 80,000 people and has assets of over USD $5 billion.  The Group is divided into two principal operations--the investment-focused Chow Tai Fook Enterprises Limited, and Chow Tai Fook Jewellery Company Ltd., which is centered around the retail of gold and diamond jewelry.  The latter dates back nearly 80 years, and is one of the better known fine jewelers in Asia; it is also one of the largest, comprising more than 700 retail locations in China, Hong Kong, Taiwan, Malaysia, and Macau which generate total annual sales of over USD $1 billion.

A press release issued by Milus expresses enthusiasm over the potential represented by the CTF acquisition, noting that brand positioning, company growth, and retail presence are all in a position to be optimally benefited through the relationship.  Currently, Milus has subsidiaries in China and Hong Kong, the United States, and Germany; the brand is represented and distributed in more than forty countries.