Pursuits
Chow Tai Fook Targets Young Chinese With Lower-Priced Bling
- Jeweler opening new outlets in China with cheaper products
- Company trying to win young customers amid two-year sales drop
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Chow Tai Fook Jewellery Group Ltd. is targeting young shoppers in mainland China with a new chain of lower-priced stores, as the world’s largest jeweler tries to shore up its customer base amid sales that are set to fall for a third-straight year.
The new Monologue outlets will stock jewelry priced at 2,000 yuan ($291) on average, about a third of the prices at the company’s flagship Chow Tai Fook-branded stores, said Managing Director Kent Wong on Thursday. The first of them opened in the southern city of Shenzhen in September, with as many as six more planned this year including in Dalian and Wuhan, he said.