86 632
Fashion Jobs
MACY'S
Retail Fulfillment Associate, University Park Mall - Part Time
Permanent · MISHAWAKA
MACY'S
Asset Protection Captain, Interstate - Full Time
Permanent · RAMSEY
MACY'S
Retail Fulfillment Associate, Ventura Pacific View - Part Time
Permanent · VENTURA
MACY'S
Asset Protection Detective, South Beach - Full Time
Permanent · MIAMI BEACH
MACY'S
Asset Protection Security Guard, Garden State Park - Full Time
Permanent · CHERRY HILL
MACY'S
Retail Fulfillment Associate, White Oaks - Part Time
Permanent · SPRINGFIELD
MACY'S
Retail Fulfillment Associate, Galleria at Pittsburgh Mills - Part Time
Permanent · TARENTUM
MACY'S
Asset Protection Captain, Orland Square - Full Time
Permanent · ORLAND PARK
MACY'S
Asset Protection Security Guard, Queens Center - Part Time
Permanent · NEW YORK
MACY'S
Retail Fulfillment Associate, Village at Fairview - Part Time
Permanent · FAIRVIEW
MACY'S
Asset Protection Detective, Marley Station - Part Time
Permanent · GLEN BURNIE
MACY'S
Asset Protection Security Guard, Broadcasting Square - Part Time
Permanent · WYOMISSING
MACY'S
Asset Protection Security Guard, Winter Garden Village - Part Time
Permanent · WINTER GARDEN
MACY'S
Manager, Asset Protection
Permanent · SPRINGFIELD
MACY'S
Asset Protection Security Guard, Centerton Square - Part Time
Permanent · MOUNT LAUREL TOWNSHIP
MACY'S
Retail Fulfillment Associate, Westland - Part Time
Permanent · HIALEAH
MACY'S
Asset Protection Security Guard, Bloomingdale Court - Part Time
Permanent · BLOOMINGDALE
MACY'S
Retail Fulfillment Associate, Cumberland Mall - Full Time
Permanent · ATLANTA
MACY'S
Asset Protection Security Guard, Broadcasting Square - Full Time
Permanent · WYOMISSING
MACY'S
Retail Fulfillment Associate, Riverpark - Part Time
Permanent · FRESNO
MACY'S
Retail Fulfillment Associate, Shoppes at Buckland Hills - Part Time
Permanent · MANCHESTER
MACY'S
Retail Fulfillment Associate, Empire - Part Time
Permanent · SIOUX FALLS
Published
Jan 23, 2017
Reading time
2 minutes
Download
Download the article
Print
Text size

Chow Tai Fook to expand Monologue chain, shutter some signature stores

Published
Jan 23, 2017

Hong Kong jewellery retailer Chow Tai Took is expanding its new lower-priced chain to target younger shoppers in mainland China and is also to close up to eight Hong Kong and Macau stores by the end of the current financial year (March). Up to six will also close next year with most of the shops that are being axed located in tourist areas.


Chow Tai Fook will expand one chain but close stores in another as it battles a downturn - Photo: Chow Tai Fook



MD Kent Wong said the new chain will not provide a huge boost to revenue for now but the launch was a must-do to avoid it losing younger consumers.

Its new chain, called Monologue, offers jewellery at around a third of the price of the products in Chow Tai Took stores. The first Monologue store opened last autumn in Shenzhen with up to six more planned this year.

The company currently operates over 2,000 stores selling jewellery and upscale watches and has been affected by the anti-corruption drive in China that has deterred conspicuous consumption and dented sales of luxury goods.

At the same time, Hong Kong has seen a major tourist downturn in recent years and this has hurt its retail trade, particularly at the luxury end of the market.

But Chow Tai Took, the world’s largest jeweller, has also been affected by intense competition among jewellers in key tourist areas, as well as by Hong Kong’s high retail rents.

However, Kent Wong said the company’s business is improving with consumer sentiment recovering in Q4 and comparable sales in mainland China also rising.

While he is staying cautious on prospects for this year, he believes a further improvement could come in the second half.

Copyright © 2024 FashionNetwork.com All rights reserved.