China Favor Seekers Cut Down on Gifts of Rolex Watches

China Favor Seekers Cut Down on Gifts of Rolex Watches

Andrey Rudakov/Bloomberg

Their pullback may be dampener for makers of pricey brands such as Cartier seller Cie. Financiere Richemont SA to Swatch Group AG and Hong Kong jeweler Luk Fook Holdings International Ltd. that have been getting a bigger portion of profits from China.