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  • Written by EQS Asia Business News

EQS-News / 19/12/2018 / 16:37 UTC+8

MEDIA RELEASE

CHOW TAI FOOK JOINS TRACR PILOTParticipation of world-leading jewellery retailer extends platform's reach in Asia

Hong Kong, 19 December 2018 - Tracr(TM), 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

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.

 

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' 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.

 

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=VTDLYOSWNCDocument 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.Media archive at www.todayir.com

Authors: EQS Asia Business News

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