Cheng Yu-tung, founder of the Chow Tai Fook Jewellery Group, passed away on September 29. He was 91.
In a statement released by the World Diamond Mark Foundation (WDMF), Chairman Alex Popov and the Board mourned his passing, saying: “Mr. Cheng was one of the pillars of the diamond, gem and jewellery retail industry in Hong Kong and greater China. His vision, reach, resolve and success in developing consumer demand in the world’s largest consumer market remain unmatched and will forever be remembered”.
Cheng suffered from a brain haemorrhage in 2012, and spent the last four years of his life in bed. According to a statement by his family, Cheng died with his family at his side.
