Chow Tai Fook to Hike Gold Product Prices Again
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Hong Kong-listed Chow Tai Fook Jewellery Group Ltd. will raise retail prices on many of its fixed-price gold products by 12% to 18% at the end of October, Caixin has learned, marking its second increase this year.
Chow Tai Fook said it has a mechanism to closely monitor gold price fluctuations and makes timely price adjustments to respond to market changes. The move follows a price hike in March, when rates rose by 10% to 20%.
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- Chow Tai Fook will raise prices on fixed-price gold products by 12-18% at October's end, following a 10-20% increase in March 2024.
- Gold prices have surged over 50% since early 2024, driving Chinese gold investment demand, with jewelry sales down 26% and gold bars/coins up 23.7% in H1 2025.
- Chow Tai Fook’s FY2024 revenue dropped 17.5% to HK$9 billion, yet profit margin rose to 16.4%; it closed 896 stores in mainland China.
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Who’s Who
- Chow Tai Fook Jewellery Group Ltd.
- Chow Tai Fook Jewellery Group Ltd. is increasing retail prices for its fixed-price gold products by 12% to 18% by the end of October, marking its second hike this year due to surging international gold prices. Despite a 17.5% revenue decrease to HK$9 billion, its operating profit grew by 9.8% to HK$1.5 billion, and the operating profit margin expanded to 16.4%.
- Laopu Gold Co. Ltd.
- Laopu Gold Co. Ltd. (老铺黄金股份有限公司) is increasing its gold retail prices for the third time this year, with the latest hike scheduled for October 26. Previous increases occurred in February and August. This reflects a broader trend of gold price adjustments among Chinese retailers in response to surging international gold prices.
- CHJ Jewellery
- CHJ Jewellery raised prices at its Beijing counters in late September, aligning with a broader trend of price increases among Chinese gold retailers. This follows similar price adjustments made by other brands in response to surging international gold prices.
- Chow Sang Sang
- Chow Sang Sang, a jewelry brand, also raised prices at its Beijing counters in late September, following similar actions by other brands. This comes amidst a surge in international gold prices, leading to price hikes across China's gold retail market.
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What Happened When
- Beginning of 2025：
- Chow Tai Fook’s pure gold for jewelry and crafts was priced at around 800 yuan per gram.
- February 2025：
- Laopu Gold Co. Ltd. made a price increase (first of the year 2025).
- March 2025：
- Chow Tai Fook raised retail prices on many of its fixed-price gold products by 10% to 20%.
- March 31, 2025：
- Chow Tai Fook’s fiscal year ended with revenue falling 17.5% to HK$9 billion, operating profit margin expanding to 16.4%, and operating profit up 9.8%. The company closed 896 stores on the Chinese mainland during fiscal year 2025.
- First half of 2025：
- China’s gold consumption fell 3.5% year-on-year to 505.2 tons. Sales of gold jewelry plunged 26% to 199.8 tons, while purchases of gold bars and coins surged 23.7% to 264.2 tons.
- August 2025：
- Laopu Gold Co. Ltd. made its second price hike of the year 2025.
- Late September 2025：
- Brands like CHJ Jewellery and Chow Sang Sang raised prices at their Beijing counters.
- October 20, 2025：
- As of this date, Chow Tai Fook’s pure gold price for jewelry and crafts stood at about 1,262 yuan per gram.
- Mid-October 2025：
- Laopu Gold Co. Ltd. announced its third price hike of 2025, scheduled for October 26, 2025.
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