Chow Tai Fook Jewellery Group Ltd. delivered a resilient performance in FY2025, with operating profit rising 9.8% year-on-year to HK$14.75 billion, even as revenue declined 17.5% to HK$89.66 billion due to high gold prices and a sluggish macroeconomic environment.

The company’s ongoing brand transformation helped offset the top-line pressure, with the launch of five new premium-format stores in Mainland China and Hong Kong contributing to a 400 basis point expansion in operating margin, which reached 16.4%. Gross profit margin also improved to 29.5%, driven by a stronger product mix and growing demand for fixed-price gold jewellery.

While net profit attributable to shareholders fell 9% to HK$5.92 billion—largely due to revaluation losses on gold loan contracts—the group maintained a generous dividend payout ratio of 87.8%, declaring a full-year dividend of HK$0.52 per share.

Chairman Dr. Henry Cheng commented, “We are making significant progress in our brand transformation journey. Despite external headwinds, we continue to adapt to shifting consumer preferences and see exciting opportunities for growth across China and beyond. Innovation, craftsmanship, and cultural pride remain central to our identity.”

A standout in FY2025 was the remarkable growth in fixed-price gold jewellery, with sales soaring 105.5% year-on-year. These products now account for 19.2% of Mainland China’s gold jewellery revenue. Signature collections such as CTF Rouge and the Palace Museum collaboration each recorded over HK$4 billion in sales.

The group also accelerated its digital retail strategy. Livestreaming and e-commerce accounted for 5.8% of retail sales value in Mainland China, while online sales in Hong Kong and Macau surged 91%, driven by a revamped website and successful IP-based product collaborations.

Looking ahead to FY2026, Chow Tai Fook expects to benefit from continued brand evolution, improving market sentiment, and disciplined cost management, positioning the company for sustainable, quality-led growth.

Young Indians are increasingly  turning to colored gemstones like tanzanite, paraiba tourmaline and morganite for their jewellery collections. The trend, amplified by Bollywood celebrities flaunting vibrant stones on social media, is transforming India’s jewelry market and creating new opportunities in a sector that has traditionally been dominated by gold. Gemstone-studded jewelry typically uses 14- or 18-karat gold, compared with the 22-karat gold required for traditional Indian jewelry, making pieces more affordable for younger consumers.

India’s colored gemstone market generated an estimated $825 million in revenue during the fiscal year ending March 2025, up from $770 million the previous year and $600 million in 2020, according to Tehmasp Printer, MD-IGI.

The broad price range of colored gemstones—from 1,000 rupees ($12) per carat for lower-grade stones to more than 100,000 rupees ($1,200) for premium specimens—appeals to consumers across income levels. Paraiba tourmaline, among the most prized colored gemstones, can command up to 500,000 rupees ($6,000) per carat, while natural diamonds typically cost 250,000-300,000 rupees ($3,000-$3,600) per carat.

The global colored gemstone market is projected to grow from approximately $1.9 billion in 2025 to $5.7 billion by 2035, representing an 11.3% compound annual growth rate, according to industry forecasts.

The shift toward colored gemstones represents a notable evolution in Indian jewelry preferences, traditionally dominated by gold’s cultural significance and investment appeal. As prices for traditional precious metals and diamonds continue climbing, colored gemstones are providing an accessible entry point into luxury jewelry for India’s growing middle class.

Vummidi Bangaru Jewellers (VBJ), one of South India’s most respected jewellery houses, has appointed Deepansh Bhargava as Senior Vice President and Head of Marketing. The move comes as VBJ celebrates its 125th anniversary and embarks on a bold new phase of growth both in India and abroad.

Bhargava brings extensive experience in retail and lifestyle marketing, having led brand strategy and digital initiatives across prominent fashion and premium retail companies. His previous roles include contributions to the national rollout of Central under Future Group, and early-stage brand-building efforts for Brand Factory and Foodhall. At DLF Luxury and Premium Retail, he deepened his understanding of consumer behavior in upscale retail environments and developed an expertise in experiential marketing.

Announcing the appointment, Amarendran Vummidi, Managing Director of VBJ, said, “Our journey toward becoming a Rs 5,000 crore brand is just beginning. After the successful launch of our showroom in Dallas, Texas, we are preparing to expand further in the U.S. with new stores in Chicago, California, and Virginia. At home, we’re focused on deepening our presence in Tamil Nadu, with upcoming stores in Coimbatore, Trichy, Madurai, and additional Chennai locations such as T. Nagar and Chrompet. We believe Deepansh Bhargava’s leadership will bring strategic depth to this exciting journey.”

Jithendra Vummidi, Joint Managing Director, added, “Jewellery is both an emotional and cultural investment. Staying relevant means staying connected with our customers’ evolving aspirations. Deepansh’s insight and creativity will help us strengthen our brand while staying rooted in our heritage.”

Speaking about his new role, Bhargava said, “I’m honoured to join VBJ at such a landmark moment. It’s a privilege to be part of a legacy brand known for exceptional craftsmanship and deep cultural significance. I look forward to helping shape the next phase of its growth and relevance.”

VBJ, known for its exquisite gold, diamond, and silver jewellery, operates flagship stores in Chennai and has announced aggressive expansion plans across South India and internationally. The company opened its first overseas store in Dallas in 2023 and is now eyeing further growth in key North American markets.