Chow Tai Fook misses estimates as gold tax change effects loom
While premiumization efforts and rising gold prices provided support, China's removal of gold tax rebates threatens to reshape jewelry retail economics.
The Chow Tai Fook store in Hong Kong represents the front line of China’s jewelry retail sector. Following Beijing’s removal of a key tax rebate on gold, retailers like Chow Tai Fook face fresh uncertainty — even as year-to-date share prices climb and premiumization efforts continue. Image: Getty Images
The Chow Tai Fook store in Hong Kong represents the front line of China’s jewelry retail sector. Following Beijing’s removal of a key tax rebate on gold, retailers like Chow Tai Fook face fresh uncertainty — even as year-to-date share prices climb and premiumization efforts continue. Image: Getty Images