Chow Tai Fook to start joint venture with Swiss watchmaker Richemont

Swiss luxury goods group Richemont and the world’s largest jewellery chain, Chow Tai Fook, have agreed to create a joint venture, Swiss daily Le Temps reported in its online edition late on Saturday.

Citing a source inside Richemont, the newspaper said that the two luxury brands would each control 50 per cent of the new company, which would distribute watches made by Richemont luxury watchmaking brand Baume & Mercier in mainland China.

via Business feed http://www.scmp.com/business/companies/article/1132269/chow-tai-fook-start-joint-venture-swiss-watchmaker-richemont