Story Highlight
– Chow Thai Fook rebounds after 17.5% sales contraction.
– Generated HK$94.4 billion in fiscal year ending 2026.
– 95% revenue from fixed-price and weight-based gold jewellery.
– Watch sales fell to 4.3%, worth HK$4 billion.
– Operating profit increased by 28% to HK$18 billion.
Full Story
Chow Thai Fook, the largest global group specialising in jewellery and watches, has made a notable recovery following a significant sales decline of 17.5% between 2024 and 2025.
For the fiscal year ending March 31, 2026, the company reported sales amounting to HK$94.4 billion (approximately $12 billion). A substantial 80% of these sales originated from the Chinese mainland, with the remainder coming from Hong Kong and Macau.
The bulk of the group’s revenue stems from its fixed-price jewellery, which contributed 31.5%, alongside weight-based gold jewellery that accounted for 64.2%. Meanwhile, watch sales represented a smaller portion of the business, making up 4.3% of total sales in FY26, down from 6% in FY22; however, this still translates to over HK$4 billion ($516 million).
Chow Thai Fook operates five points of sale for Rolex watches—three located in mainland China and two in Hong Kong—along with nine outlets dedicated to Tudor watches.
The group’s operating profit witnessed an impressive rise of 28%, reaching HK$18 billion ($2.3 billion).
This resurgence in performance is likely to draw the attention of Swiss watch manufacturers, who are keenly monitoring Chow Thai Fook’s results as potential indicators of consumer spending trends in China and Hong Kong. In the initial four months of 2026, Hong Kong experienced a 2.5% increase in Swiss watch exports, while exports to China rose by 3.5%, despite a notable decline over the previous decade.
