Facing slowing global demand for diamond jewellery, international diamond companies are reshaping marketing campaigns to tap a growing pool of independent female spenders in China, the world's second largest economy.
Hong Kong's retail sales fell for the 24th straight month in February, hurt by a lack of growth in tourist spending. The Hong Kong Retail Management Association has estimated a 3-4 percent drop in retail sales in 2017.
Hong Kong retail sales fell for the 16th successive month in June, hurt by a continued drop in mainland tourists and weak local spending, with retailers now also facing challenges from a strong local currency.
Some of Hong Kong's biggest retailers have closed stores and frozen expansion plans in the past year in response to a drop in the number and spending power of their main customers, mainland Chinese tourists.
Chow Tai Fook Jewellery Group Ltd, the world's biggest jewellery retailer by market value, is among a number of gold shops being probed for price fixing, the official People's Daily newspaper reported.
Shares in Hong Kong's Chow Tai Fook Jewellery Group Ltd jumped as much as 15 percent on Wednesday after the world's largest jewellery retailer by market value reported strong revenue growth due to plummeting gold prices.
High street jewelry chains Chow Sang Sang and Luk Fook are best placed among retailers in China to weather what promises to be another turbulent year after an uncertain economy sapped consumer confidence and cut earni...
Shares in Chow Tai Fook Jewellery Group Ltd, the world's biggest jewellery retailer by market value, reversed losses to hit a six-month high on Friday, overcoming pessimism generated by disappointing earnings.
Chow Tai Fook, the world's biggest jewelry retailer, reported a 79 percent jump in annual profit, buoyed by demand for luxury goods in China, though global economic uncertainties may slow revenue growth in the near term.