Chow Tai Fook Jewellery Group Ltd, the world’s biggest jewellery retailer by market value, said on Thursday it is targeting e-commerce as a pillar of future growth after online sales tripled in the first half.
The Hong Kong-listed company, despite posting a disappointing slump in six-month profit, was also upbeat about a near-term pick-up in China’s luxury spending and the prospect of strong longer-term demand due to increasing wealth and spending power in smaller cities.
With 12 million couples getting married in China each year, there is huge underlying demand for gold jewellery products, Chow Tai Fook Managing Director Kent Wong told a news conference.
(Source: CNBC)