China’s largest jewelry company
China’s jewelry market is relatively diverse, with the ten largest players only taking up less than a quarter of the market. Nevertheless, Chow Tai Fook, the Hong Kong-based jeweler founded in the 1920s, made up 7.6 percent of the country’s jewelry sales alone. In 2021, with an estimated sales value of over ten billion euros, Chow Tai Fook overtook Hermès and Tiffany to become the fifth-largest luxury company worldwide.
Chow Tai Fook in mainland China
The mainland Chinese market continued to be the biggest revenue contributor for Chow Tai Fook in 2023, making up around 86 percent of its revenue that year. As of March 2023, Chow Tai Fook had more than 7,200 outlets in mainland China, expanding from about 5,700 in the previous year.