International News
Chow Tai Fook Posts Soft Earnings as China’s Gold Tax Shift Clouds Outlook
Flat profits and tighter margins signal rising pressure on China’s biggest jewellery retailer after Beijing ends a key gold tax rebate.
Chow Tai Fook Jewellery Group reported a muted performance for the first half of the fiscal year, with profits landing just below expectations as the industry braces for the impact of China’s recent policy change on gold taxation. The retailer posted HK$2.5 billion in net income, marginally short of analyst forecasts of HK$2.6 billion, according to its latest filing.
While gross margin eased to 30.5%, the company noted that stronger sales of higher-margin fixed-price jewellery and the appreciation of gold helped offset the pressure. In mainland China, average selling prices for fixed-price gold pieces continued to rise, supported by Chow Tai Fook’s ongoing premiumisation strategy amid fierce competition from domestic rivals such as Laopu Gold.
The jewellery giant has been navigating a tough landscape shaped by volatile gold prices, softer consumer sentiment, and a fast-evolving competitive environment. Despite these challenges, the company said it remains optimistic about sustaining momentum through the second half of FY2026.
However, uncertainty looms after China eliminated a long-standing tax rebate on gold imports on Nov. 1, a move aimed at shoring up government revenues. The change is expected to raise gold acquisition costs and could squeeze retailer margins further if passed on to consumers.
Chow Tai Fook has already revised certain product prices to reflect rising gold rates. Even so, its stock has rallied strongly, climbing 127% year to date, signalling investor confidence despite near-term industry turbulence.
GlamBuzz
All That Glitters: The Jewellery Moments Everyone Talked About at the 2026 Golden Globes
From archival diamonds to playful brooches, Hollywood’s biggest night sparkled with fearless jewellery statements
The 2026 Golden Globes didn’t just celebrate cinematic brilliance—it redefined red-carpet glamour. Set against a newly designed red carpet at the Beverly Hills Hotel, the evening shimmered beneath four magnificent Swarovski crystal chandeliers, casting a radiant glow on Hollywood’s finest. But the true spectacle lay in the extraordinary jewellery moments that unfolded as stars stepped into the spotlight.
Teyana Taylor delivered one of the night’s most talked-about looks, pairing her Best Supporting Actress win for One Battle After Another with striking 1940s Tiffany & Co. earrings. The archival diamonds perfectly offset the playful audacity of her custom Schiaparelli gown, proving once again that classic jewels and modern fashion can collide spectacularly.
Zoë Kravitz championed the romantic return of the hair pin, wearing a bespoke creation by Jessica McCormack that felt both intimate and effortlessly chic. Meanwhile, Charli xcx leaned fully into Old Hollywood glamour, completing her custom Saint Laurent ensemble with cascading De Beers diamond strands that echoed timeless screen sirens.
Men’s jewellery continued its powerful rise on the Golden Globes carpet. Colman Domingo stood out with an elegant suite of Boucheron diamonds, styled as ivy-like tendrils flowing over his custom black Valentino tuxedo—an artful blend of couture and craftsmanship. Paul Mescal reaffirmed his love for refined accessories with a Cartier tie pin, while Connor Storrie brought playful elegance with Tiffany & Co.’s iconic Bird on a Rock brooch.
One of the most imaginative jewellery moments belonged to Wicked director Jon M. Chu, who wore two beaded figurative brooches depicting his co-stars and fellow nominees Ariana Grande and Cynthia Erivo. Designed by Italy-based embroidery artist Nerd Bead—discovered by Chu on Instagram—the pieces added personality, storytelling and warmth to the red carpet.
Elsewhere, Emily Blunt sparkled in Tiffany & Co., Priyanka Chopra Jonas turned heads in Bulgari, Hailee Steinfeld chose the architectural elegance of Repossi, Claire Danes glowed in Pomellato, Natasha Lyonne dazzled in Chopard, Jennifer Lawrence opted for Swarovski, and Timothée Chalamet continued his refined jewellery streak with Cartier.
At the 2026 Golden Globes, jewellery wasn’t merely an accessory—it was a statement of individuality, creativity and evolving red-carpet expression. From archival diamonds to bold brooches, the night served as a brilliant reminder that fine jewellery remains one of Hollywood’s most powerful storytelling tools
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All That Glitters: The Jewellery Moments Everyone Talked About at the 2026 Golden Globes
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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.