China’s biggest jewellery seller with thousands of stores across mainland China and Hong Kong, Chow Tai Fook Kewellery Group, is beginning to look further afield for fresh growth, starting in Southeast Asia with a new store in Thailand.
The company has opened a flagship store in the Thai capital Bangkok’s luxury shopping and lifestyle mall Siam Paragon. The move is part of a wave of Chinese and Hong Kong consumer brands shifting abroad to offset slowing domestic demand, rising market saturation and pricing pressure in the world’s second-largest economy.
Sonia Cheng, its Vice Chairman, said the company’s international expansion “is seeing strong momentum in Southeast Asia”.
Chow Tai Fook also plans to open its first store in Australia and another in Canada by the end of June. It also aims to enter the Middle East market within the next two years.
“We remain committed to measured, value-adding growth, with Dubai and Doha next on the horizon – a testament to our brand’s enduring global appeal,” Cheng said.
Founded 97 years ago, Chow Tai Fook has been challenged by newcomers such as Laopu Gold, which has gained popularity with its luxury retail experience and traditional Chinese craftsmanship jewellery in recent years.
