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Hong Kong jeweler Chow Tai Fook buys Enzo Jewelry

Hong Kong-based jewelry retailer Chow Tai Fook Jewellery Group Ltd. said Jan. 17 that it has acquired 100% of peer Enzo Jewelry Inc.

Financial terms of the deal were not disclosed.

Enzo, which is based in the Chinese city of Shenzhen, owns and operates a network of 60 points-of-sales on the Chinese mainland. The company also offers its products through e-commerce sites including Alibaba Group Holding Ltd.-owned Tmall, Inc. and Vipshop Holdings Ltd.'s

Following the acquisition, Chow Tai Fook said Enzo will continue operating as a natural colored gem specialist to help the group further venture into that market. In turn, Enzo will gain access to Chow Tai Fook's retail and industry know-how, the company said.

Chow Tai Fook said the deal, which closed on Jan. 17, will have no material financial impact on its consolidated net assets or operating result for the year ending March 31.