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Chinese Jewelry Brand, Chow Tai Fook, Debuts in Canada August 16, 2023 (0 comments)

Richmond, Canada--Hong Kong's acclaimed Chow Tai Fook, the world's fourth-largest jewelry brand, has inaugurated its first store in the Canadian market at Richmond Centre. 

[Image via BIV]

Originating from Guangzhou, China, in 1929, this brand boasts approximately 7,400 storefronts in Asia. Its expansive portfolio includes gold, white gold, and diamond jewelry, with a valuation exceeding $16 billion.

During the store's grand opening on Wednesday, Po Liu, General Manager for Chow Tai Fook H.K., Macau & Overseas, shared insights into the brand's Canadian expansion. “Canada has people with different backgrounds that have immigrated here. We found that lots of people from Canada go to Hong Kong to buy our jewelry,” said Liu, as per a report published in BIV. “That’s why we are opening a shop here so they don’t have to worry about going to Hong Kong – we can bring all the products directly from Hong Kong here.”

Sunny Ho, who oversees the Richmond location and previously vied for a city council seat, highlighted Richmond's diverse demographic as a pivotal reason for the brand's establishment there. "Most people from Hong Kong and Mainland China know Chow Tai Fook, which is well known for their excellent craftsmanship and 999.9 gold jewelry," affirmed Ho, per the report.

The jewelry giant is reputed for its specialty in 999.9 gold, a standard that signifies 99.99% purity, akin to 24 karats. Beyond jewelry, they also trade in 999.9 gold bullion bars.

Reflecting on the cultural significance of gold in Chinese traditions, Liu remarked, "In ancient times, gold represented power and empire, and that’s why Chinese love gold. Also, a lot of Chinese people love saving money and gold is a great way for value preservation." Historically, in various regions of China, families have gifted gold jewelry to brides.

In the report, Liu further emphasized Chow Tai Fook's distinct heritage: “Chow Tai Fook is originally from Guang Zhou, so its DNA is very different from the other brands. We represent Chinese culture, while other brands have their own origin. We’ve been really happy to bring the Chinese culture especially the partnership out of Hong Kong and China to a different country.”

Though the grand unveiling was on Wednesday, patrons have been visiting since its soft launch in December.

Learn more in the entire BIV report.