Gold and Diamond jewelry consumption in China back to pre-pandemic levels
Big brands looking to break into China as only 15% of jewelry sales are "branded". Chow Tai Fook is the largest branded player in China, and overall 2020 jewelry sales in China eclipsed $100B.
More from the Chinese publication JingDaily...
"Although jewelry sales in China plummeted at the start of the pandemic, appetite for jewelry has since returned in spades. Over the first quarter of 2021, total sales of gold, silver, and jewels topped $15.9 billion, up 81.5 percent year-on-year. In particular, gold jewelry consumption stood at 191.1 tons during that period — the highest quarterly level in seven years — while polished diamonds surpassed 2019 levels by reaching $722 million from January to March."
The article goes on to a do deep dive into the four largest branded players in China:
Chow Tai Fook