world's second-largest jeweller by [total] market capitalization. Chow Tai Fook Jewellery Group Chow Tai Fook Jewellery is a jewellery store and gold shop ( ) founded by Chow Chi-yuen in 1929 in Guangzhou, China. His son-in-law Cheng Yu-tung took over the business in 1956 and their descendants continue to own the business today. Chow Tai Fook Jewellery Company Limited () was the core company of the store chain. It was incorporated in British Hong Kong in 1961. The brand is popular in the Chinese-speaking world, according to a research by CLSA. The store has retail outlets in several countries, including over 6,800 retail outlets in mainland China. Cheng invented gold with 99.99% purity as a product of Chow Tai Fook Jewellery, which became a standard for industry peers in Hong Kong. In 1964, Chow Tai Fook Jewellery acquired a license for purchasing diamonds from De Beers, the monopoly supplier at that time. It was reported that 30% of diamond imports into Hong Kong in the 1970s were purchased by Chow Tai Fook. In 1960s, Chow Tai Fook established another brand () in a building of the same name (, in ) in Central. Manning House became one of the rental properties of the jeweller's sister company New World Development's portfolio in the 1970s. In 1971, Chow Tai Fook Jewellery introduced ornaments made of vitreous enamel. It was credited as a new industry of Hong Kong at that time. In 1989, Chow Tai Fook Jewellery broke the record for the highest price paid for a rough diamond. The company paid US$10 million for a diamond weighing 255.61 carats. By September 2010, the company had 1,000 chain stores in mainland China, including franchisees and its own outlets; it also set an objective of opening 2,000 chain stores in mainland China by the year of 2020. Chow Tai Fook Jewellery has played a leading role in its market segment since it foundation, especially in the period since 1997. For 5 continuous years since 2005, it held the no. 1 market share position in its industry segment. In 2010, Chow Tai Fook Jewellery purchased Cullinan Heritage, a 507-carat diamond, for US$35.3 million, setting a new record for the highest price paid for a rough diamond. On 15 December 2011, the jewellery division of Chow Tai Fook group, under new holding company Chow Tai Fook Jewellery Group Limited, was listed on the Stock Exchange of