Hong Kong retailer Chow Tai Fook Jewellery Group’s first-quarter sales were down 1.9 per cent as China’s lacklustre market outweighed growth in Hong Kong and Macau. 

The company’s latest unaudited operational data showed retail sales value in China fell by 3.3 per cent year on year from April to June 2025 – a stark contrast to a 7.8 per cent increase in Hong Kong and Macau and other markets.

Same-store sales in China dipped 3.3 per cent compared to the previous year while those in Hong Kong and Macau rose 2.2 per cent, representing 0.2 per cent and 9.5 per cent growth in Hong Kong and Macau, respectively.

Chow Tai Fook attributed improved same-store sales across key markets to a relatively lower comparable data and sustained sales momentum of fixed-price products.

Fixed-price gold products were a standout, recording a 20.8 per cent increase year on year in the first quarter, while gem-set and platinum jewellery returned to growth with a  0.5 per cent uptick, thanks to the strong performance of the company's signature collections.

“We continued to make solid progress in our brand transformation during the quarter. We officially launched the High Jewellery Collection in Hangzhou, China in June, which was pivotal to elevating our brand’s desirability and signals a new chapter for the group’s leadership in creation and craftsmanship,” Chow Tai Fook stated.