, Columnist
Chow Tai Fook's Charm Offensive
The luxury jeweler is going downmarket to battle a Danish invader in China.
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Chow Tai Fook Jewellery Group Ltd. got rich surfing the wave of China's consumer boom. With luxury spending stagnating, it's switching to chasing shoppers' yuan downmarket.
The company will target younger buyers with cheaper, more fashion-oriented products costing about 2,000 yuan ($291) on average and sold through a new store chain named Monologue. That's about one-third of the prices at the company’s flagship Chow Tai Fook-branded stores, Managing Director Kent Wong told Daniela Wei of Bloomberg News last week.