Core Insights - Chow Tai Fook Jewelry's transformation into the digital age serves as a significant case study for brand evolution, focusing on business needs and leveraging technology and culture to shift from scale expansion to value deepening [1][2] - The jewelry industry faces unique challenges in digital transformation due to its low-frequency, high-ticket nature and the complexity of customer shopping experiences across multiple channels [1][2] Digital Transformation Strategy - Chow Tai Fook has integrated "accelerating digital transformation" into its five strategic priorities for 2024, indicating that digitalization is now a core driver of business development [3] - The company is enhancing customer experience and operational efficiency through the application of digital capabilities, including the use of Tencent's ecosystem tools to create a seamless online and offline shopping experience [3][4] - AI technology is being utilized to reshape retail operations, with internal AI assistants improving decision-making and operational efficiency [3][4] Membership System Development - Chow Tai Fook is upgrading its global CTF Club membership program to create a unified user operation system, aiming to enhance customer loyalty and brand value [6][7] - The new membership plan, launching in April 2025, will extend beyond traditional benefits to connect with users' lifestyles, offering a seamless brand experience [6][7] - The company is leveraging existing digital capabilities in China to facilitate the rollout of the membership program in international markets, ensuring consistency in member benefits [7] Organizational Culture and Structure - The success of digital initiatives relies heavily on organizational culture, with a focus on collaboration between technology and business teams to drive innovation [9][10] - Chow Tai Fook has restructured its IT team into four product lines to better align with business needs and enhance digital capabilities [11][12] - The company encourages a culture of experimentation and feedback, fostering a positive cycle of innovation between business and IT teams [12]