Retail in Asia

In Sectors

China’s richest see glitter that’s not gold

Last week, 75 mainland couples and families were invited on a three-day, two-night, all-expenses-paid trip, touring on harbour cruises, visiting personal stylists and indulging in wine-tasting treatments, while staying at the Grand Hyatt in Hong Kong.

The trip, however, came at a price. These were guests who spent at least CNY1 million (HKD1.23 million, USD158,539) last year with Chow Tai Fook, and who were later invited to the jeweller’s first auction in Hong Kong. The event was part of a brand revamping campaign for Chow Tai Fook.

The jeweller said even though gold still accounted for about half of sales, diamonds were the key to winning over the wealthiest in mainland China.

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