China’s biggest jewellery retailer Chow Tai Fook is banking on the young, patriotic and affluent Generation Z cohort buying “China-chic” pieces to fuel growth.
The strong demand from those born after 1995 for jewellery inspired by Chinese symbols such as dragons and phoenixes — the traditional emblems of emperors and empresses — has driven substantial growth during the pandemic.
“[Gen Z] is one of the cohorts that has the ability [to pay] and is most willing to spend big,” said Chow Tai Fook managing director Chan Sai-cheong in an interview with the Financial Times.
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