A luxury jewelry brand settles in PHL

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Despite its emerging market status, the Philippines attracts foreign entrepreneurs who carry world-renowned luxury brands.

Based in Hong Kong, Chow Tai Fook Jewelery Group Ltd. is one of the latest prestigious brands to enter the Philippine market. With 90 years of experience and history, the leading jeweler launched its Manila store on September 24, 2019, at The Shoppes, Solaire Resort and Casino in Parañaque City.

Charles Sy, Director of Kho Group, pointed out that their entry into the Philippine market is a recognition of Filipinos’ passion for art and Chow Tai Fook’s renowned craftsmanship in the local fashion and style scene. life.

“Chow Tai Fook is a brand that values ​​creativity, authenticity and originality, which I believe is in line with Filipino principles. It is perfectly logical that [all of these]
combined, something extraordinary will come out of it,” he said.

Peter Suen Chi-Keung, Chai Tai Fook’s commercial manager for Hong Kong, Macao and overseas business, said their entry into the Philippines is one of their key initiatives to expand their brand in the region.

He added that the country’s stable macroeconomic performance has given major foreign brands the confidence to enter the Philippines.

Analysts say tax cuts, steady growth in gross domestic product and plans to open up the economy to more investors have led to an increase in luxury consumption in the Southeast Asian country. Is.

Nevertheless, the Philippines is not on a par with its wealthier neighbors like Malaysia and Singapore. Unlike its two wealthier neighbors where the local population takes the lion’s share of purchases, the luxury market in the Philippines is supported by foreign tourists, especially Chinese.

Meanwhile, a sand-casting ceremony to officiate the opening was led by Chow Tai Fook Hong Kong executives, executive director Peter Suen, overseas business development director Po Liu and vice- Senior Chairman Kenneth Lao, who were joined by distinguished guests, such as the Mayor of Manila. Isko Moreno, Vice Mayor of Manila Maria Sheilah “Honey” Lacuna-Pangan and Kitson Kho, Chairman of the Kho Group.

As the highlight of the day, sets for Chow Tai Fook were showcased as models made their way through the 200 square meter store. The brand’s most sought-after pieces were on display in the store’s warm light palette, accented by Chow Tai Fook’s signature red logo.



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