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Chow Tai Fook Plans Major Expansion in China

The Hong Kong-based jewellery retailer aims to almost double its POS in China by 2025
Chow Tai Fook store in Hong Kong
Credit: Iris Hortman

Citing stronger domestic demand and the growth of China’s retail market, Hong Kong-based jewellery retailer Chow Tai Fook says it aims to have more than 7,000 points of sale (POS) in China by 2025, Rough & Polished reports. As of June 2021, the retailer has 4,850 POS.

 

chow tai fook jewelry store
Credit: Chow Tai Fook

 

In addition, the retailer said it is “well poised for […] omnichannel integration with its Dual-Force Strategy.” According to the company, it uses smart retail applications to “enhance customer service and conversion rates, and improve operational efficiency.”. Smart retail is expected to account for 12% of the overall retail sales value of Chow Tai Fook’s China operations by FY2025. As of June 2021, it accounts for 9.5% of the overall retail sales value.

 

Chow Tai Fook jewelry
Credit: Iris Hortman

 

Recently, Chow Tai Fook joined CIBJO (the World Jewellery Confederation), which promotes international cooperation in the industry. CIBJO described the move as a “giant milestone”.



Tags: Diamonds News, Jewelry News, Diamond Industry News, Diamond Jewelry News, China News

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