International News
Chow Tai Fook’s Q1 retail sales decline 1.9% YoY
Chow Tai Fook Jewellery Group’s, Q1 FY2025/26 sees slight sales dip as Mainland China weakens, while Hong Kong and Macau deliver strong growth
Chow Tai Fook Jewellery Group reported a 1.9% YoY decline in retail sales value for Q1 FY2025/26, covering the three months ending June 30, 2025. Mainland China sales fell 3.3%, while Hong Kong, Macau, and other markets rose 7.8%. Gold jewelry maintained strong average selling prices (ASPs), with mainland ASPs rising to HK$6,900 ($883), up from HK$6,100 ($781).
ASPs in Hong Kong and Macau increased to HK$10,400 ($1,331), compared to HK$9,000 ($1,152) a year earlier. The group closed 311 stores in mainland China during the quarter and added one net store in Hong Kong and Macau as part of ongoing retail network optimization.
CTF said in an unaudited quarterly update that it had closed 311 outlets during the quarter (Q1 2026) and that the total number of outlets now stands at 6,337, down 16 per cent from the end of March 2024.
During the First Quarter, SSSG (Same Store Sales Growth) in key markets recorded a sequential improvement trend compared to previous quarters. The 1.9 per cent fall in sales was a significant improvement on the previous quarter, when RSV dipped by 11.6 per cent.
CTF said that with a clear emphasis to drive earnings quality and ensure margin resilience, current priorities on retail network management remain unchanged, which are to sustain market leadership and enhance the overall financial health of our retail network by maximising store productivity.
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
-
National News1 hour agoThis Women’s Day, Dhirsons Jewellers Celebrates the Milestones in a Woman’s Journey
-
BrandBuzz18 hours agoThe Pearl Edit: Thoughtful Women’s Day Gifting by GIVA
-
BrandBuzz18 hours agoAugmont Launches SPOT 2.0: One Platform. Every Product. Efficient Business
-
BrandBuzz22 hours agoSenco Gold & Diamonds Launches “SHAPE OF YOU”- AI Application for Women’s Day Celebration
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.