Birth of a magnificent masterpiece
Chow Tai Fook unveils the ultimate in jewelry craftsmanship, carved from the 507-carat Cullinan Heritage diamond
The Cullinan Heritage is not only one of the rarest, most precious diamonds in the world, but also a cornerstone of Chow Tai Fook’s rich ‘eternity’ collection.” Henry Cheng Kar-Shun, chairman of Chow Tai Fook Jewellery Group
Chow Tai Fook (CTF), Hong Kong’s largest listed jeweler, unveiled a unique diamond masterpiece, A Heritage in Bloom, on Sept 3. This unique piece, created by worldrenowned jewelry artist Wallace Chan, features countless, dazzling diamonds and gems that are meticulously set in one single piece of jewelry.
A Heritage in Bloom is centered on 24 stones cut from the 507-carat Cullinan Heritage, one of the world’s rarest rough diamonds. A 104-carat diamond shines the brightest as the largest feature of the piece.
At 383.4 carats, the weight of the gemstones and materials alone makes the piece conservatively valued at $200 million.
It represents a major milestone in the history of Chinese jewelry. CTF successfully bid a record $35.3 million for the exceptionally rare Cullinan Heritage diamond in 2010.
Henry Cheng Kar-Shun, chairman of CTF, regards the bid as an important milestone in the company’s history.
“The Cullinan Heritage is not only one of the rarest, most precious diamonds in the world, but also a cornerstone of Chow Tai Fook’s brand,” he says.
The Cullinan Heritage was discovered in 2009 in Gauteng province, South Africa, at the Cullinan diamond mine, where the majority of the world’s most high-profile diamonds have originated.
Other diamonds from the mine include a flawless great diamond discovered in 1905, which forms part of the British crown jewels’ Imperial State Crown.
“We are very pleased to be keeping the legend of the Cullinan Heritage alive and look forward to sharing the birth of an artistic jewel with the world,” Cheng says.
“As an industry leader, Chow Tai Fook is proud to continue writing the legend of Cullinan by introducing A Heritage in Bloom on the world stage. All of us at Chow Tai Fook are proud to own this magnificent masterpiece.” Unparalleled heritage
Since acquiring the diamond, CTF has aspired to transform the Cullinan Heritage into a timeless work of art.
To extract maximum value from a rare rough diamond, jewelers typically divide the polished stones into many pieces that then form the cores of numerous signature pieces.
However, CTF decided to cut the Cullinan Heritage into 24 stones and use the entire family of diamonds, which are graded D color, internally flawless, within a single piece.
In a feat of jewelry craftsmanship, the piece can be modified to be worn in 27 different styles.
All diamonds from this rough stone are graded “D color” – the finest level for absolutely colorless rocks – and internally flawless. Moreover, the 104-carat piece is among largest of its kind in the world.
After perfecting the Cullinan diamonds, CTF invited artist Chan to craft the final masterpiece.
Although the creation of A Heritage in Bloom is the very first collaboration between CTF and Chan, their shared values have always been closely intertwined.
Well recognized with his signature technique of the “Wallace cut”, Chan was the first Asian jewelry artist to exhibit at the Biennale des Antiquaires in Paris, one of the most important events for antiques dealers and jewelers in the world. His creations are highly soughtafter pieces for discerning collectors.
At a solo exhibition by Chan in Hong Kong in 2014, the idea of collaboration occurred to Cheng, chairman of CTF.
When they met, a similar set of values between the artist and the company became apparent.
“With a truly superior diamond and Wallace Chan, A Heritage in Bloom will stand the test of time and embody our values,” Cheng says.
“We believe in sharing the beauty of Chinese culture with the world, producing works of only the highest quality and imbuing each of our creations with novelty, excitement and the pursuit of perfection.”
A Heritage in Bloom comprises more than 10,000 white and over 500 pink diamonds.
Also integrated throughout are over 100 pieces of “mutton fat” white jade and green jadeite – historically considered the most desirable and highest quality of jade.
The extravagant final piece comprises 47,000 hours of cutting, polishing and perfecting by 22 craftsmen.
This process, from the successful bid for the Cullinan Heritage diamond to the final production, is a testament to CTF’s formidable financial and technical capabilities. ‘Crown jewel’
Despite the exceptional valuation of the final work, the jewelry group has no immediate plan to sell the masterpiece. Instead, it is keeping it as “the crown jewel of CTF”.
Through masterpieces like A Heritage in Bloom, CTF is investing in the long-term value of its brand.
Owning and exhibiting branded pieces with superior quality pedigrees has become an increasingly important symbol for communicating a luxury jewelry brand’s legitimacy, longevity and value.
In this regard, CTF has already been creating and exhibiting auction-only lines of high-quality jewelry for several years, to position itself as a continuously evolving luxury brand.
These pieces are unique among most contemporary creations, as they are distinctly evocative of Chinese art and culture.
Thus, A Heritage in Bloom represents the brand’s next step.
Considered a “significant and strategic investment” in CTF’s brand equity that is expected to appreciate with time, the new piece signals the company’s heritage, to encompass a lasting purpose that goes beyond just commercial activity, and its relevance as a cultural voice.
CTF understands that consumers expect sophistication and luxury from the group, and it plans to continue its investments in high-end offerings.
As the world’s most-established Chinese jewelry brand and a world-class jewelry house in its own right, CTF is considered as the only player in the industry with the vision, resources and ambition to achieve such a feat.
With its vertically integrated business, the jewelry group is involved in every stage of the process of creating diamond jewelry – from the sourcing of each rough stone, to cutting and polishing, and even the final setting of each gem before being retailed.
CTF is a world-class leading jeweler listed on the main board of the Hong Kong Stock Exchange since December 2011.
Being the largest jeweler listed in Hong Kong by market capitalization, which is also one of the world’s top few, the group also excels as the number one for jewelry sales in the world.
With over 6,000 diamond specialists working across its procurement, cut and polish, and design departments, the group is a well-established partner with the world’s most reliable suppliers.
Its acquisition of Hearts On Fire, an internationally acclaimed US luxury diamond brand, in August 2014 has further underpinned the group’s stature as a diamond expert in the industry.
CTF has opened over 2,260 points of sale across 500 cities in the Chinese mainland, Hong Kong, Singapore, Malaysia, South Korea and the United States, as well as a fast growing retail network through its online stores and other virtual shopping platforms.
The company achieved annual sales of over 18 million pieces last year, and has been the number one in terms of global sales.
“With 86 years of heritage, our core values have consistently centered on authenticity, trustworthiness, and quality,” Cheng says.
“This focus has made us one of the world’s largest and leading jewelers and has further underpinned our stature in the market.”