News

Advanced Search

Chow Tai Fook Invests in Diamond Marking Firm

Nov 29, 2021 8:12 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... 
Chow Tai Fook has agreed to buy a minority stake in New Cutting Edge, a creator of nano-marking and other technology for the diamond sector.

The Hong Kong-based jeweler will acquire 40% of the company for HKD 40 million ($5.1 million), it said in a statement last week.

Founded in 2011 and headquartered in Hong Kong, New Cutting Edge develops technology that enables diamond traceability and authentication, Chow Tai Fook explained. The retail giant has already been using the company’s services for projects such as its T Mark brand and its in-house grading reports, which are based on artificial intelligence (AI).

Chow Tai Fook said the closer collaboration would help the company become more competitive in the field of diamond marking and grading. The deal’s completion is still subject to certain closing conditions.

Image: A Chow Tai Fook store in Hong Kong. (Shutterstock)
Tags: China, Chow Tai Fook, grading, Hong Kong, Jewelry, nano-marking, New Cutting Edge, Rapaport News, retail, technology
Similar Articles
Bharat Diamond BourseIndia’s Diamond Trading Jumps in December
Jan 19, 2022
India’s polished-diamond exports rose 3% year on year to $1.77 billion in December as the market continued to strengthen during
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2022 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.