Chow Tai Fook x Peace Mark

In Sept 2008, Peace Mark had sold its STM Holding (which was being acquired by Peace Mark in late 2007) to the Festina group. STM makes about 300,000 mechanical movements and 100 million quartz movements annually, while Festina (a Spanish watch company) who does own several brands including Festina, Jaguar and Perrelet.

In Oct 2008, Chow Tai Fook confirmed it will take over some of the retail operations and the manufacturing facilities of Peace Mark (which was in provisional liquidation). Under the deal, Chow Tai Fook would take control of two factories and over 1,000 retail stores of Peace Mark across China, Hong Kong, Macau and Taiwan.

Source: JCK online, The Standard

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