Chow Tai Fook has just opened its first Thai store in Bangkok. A leading but little-known player in the global luxury market, the company, which describes itself as the leading jeweler in mainland China, has no intention of stopping there, with plans already in place for geographical expansion in North America and the Middle East.
The Thai wave (or T Wave) is not only affecting Western luxury players such as Dior, and even less so fashion and accessory specialists. Proof of this is that Chow Tai Fook, a Chinese luxury player that is almost a century old (founded in 1929) and until now mainly distributed in mainland China and Hong Kong, has just opened its first physical store in this key Southeast Asian market, which an increasing number of brands are scrambling to enter.
In doing so, the Chinese jeweler, which has just recruited Chinese actor Yang Yang as its brand ambassador, has opened a boutique in Siam Paragon, Bangkok’s high-end shopping mall.
Luxury hub in Bangkok
The move is somewhat surprising: Thailand, a market that was still being criticized a year ago for its lack of security following repeated kidnappings of Chinese tourists by the local mafia, is now attracting one of the biggest names in the national luxury sector.
Chow Tai Fook, 97, has chosen to open a boutique on the first floor of Siam Paragon. This shopping complex, based in Bangkok, is also known as the hub of local luxury shopping, with more than 70 internationally renowned fashion and luxury brands (Louis Vuitton, Rolex, Acne Studios, Gentle Monster, etc.), restaurants, and premium services.
In addition to opening the boutique, the Chinese jeweler has also released a limited edition collection inspired by Thai culture.
This interest in the Thai market is also reflected in the brand’s communications strategy. While the opening coincides with the recruitment of Yang Yang, a 34-year-old Chinese actor, as its new ambassador, the jewelry house has chosen Freen Sarocha, a 27-year-old local actress and the sensation of the Valentino Fall/Winter 2025 show, to represent its Rouge Collection.
Heading outside Asia
Chow Tai Fook is keen to conquer markets far beyond Southeast Asia, which is enjoying “strong momentum.” The Chinese jeweler has announced plans to open its first store in Australia and another in Canada by the end of June.
Within the next two years, the brand also aims to enter the Middle Eastern market with planned openings in Dubai and Doha. Last fall, Chow Tai Fook confirmed its growing interest in the European market, particularly France, with Paris as the epicenter of haute couture.
Sonia Cheng, Vice President of Chow Tai Fook’s parent company, told the press that she remains “committed to measured growth and value creation.” For the jeweler, this geographical expansion aims to offset the slowdown in demand in the Middle Kingdom, its historic stronghold. It is also a question of circumventing the problems associated with increasing market saturation and pressure on prices. Chow Tai Fook is thus facing competition from new players with strong roots in the experiential and local craftsmanship sectors, such as Laopu Gold, which are currently riding high.
Read also > Chinese jeweler Chow Tai Fook sets its sights on the French market
Featured photo: © Chow Tai Fook
