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Zhu Wenqian

Chow Tai Fook Jewellery Group’s recent launch of a series of high-priced gold-inlaid accessories on the mainland has sparked online debate amid China’s slowing consumer market.
Last week, the Hong Kong-listed jeweller showcased several items on its official Weibo account, including a diamond-studded gold AirPods case priced at 788,800 yuan (US$115,000) and gold-inlaid hair clips costing 2,080 yuan each, containing 0.42 grams of gold.
The earphone case, made with about 350 grams of gold, was produced as a single piece and sold in February at the company’s store in Shanghai’s Grand Gateway 66 mall.
Chow Tai Fook said it also accepted custom orders, with prices tied to prevailing gold rates and production typically taking two to three months.

While some social media users praised the design as resembling an art piece, much of the online conversation focused on the price tag. “Poverty really limits my imagination,” one user wrote.
For the jeweller, however, the collection reflects a strategic push to tap China’s expanding high-net-worth consumer segment, even as the country’s economic growth target of 4.5 to 5 per cent this year marks its lowest level since 1991.
“The high-net-worth consumer market in China continues to demonstrate strong resilience to economic volatility,” said Annie Wong, chief operating officer of Chow Tai Fook Jewellery.
She said the initial response had been encouraging and that distinctive creations such as the limited-edition gold AirPods case could appeal to sophisticated Chinese consumers as both functional objects and collectible luxury items.
“Even when the broader market is weak, there will always be pockets of opportunity driven by niche demand. Not all products are designed for high-volume sales,” said Sandy Lim, a China consumer analyst at S&P Global Ratings.
“Consumers are seeking pieces they can relate to – items that reflect their personality and lifestyle. As a result, design has become an increasingly important factor in purchase decisions for wearable gold jewellery.”
The move also reflects broader structural shifts in the industry. Targeting high-end demand could enhance brand premium and unlock incremental growth while building competitive advantages through differentiated products, said Fu Yifu, a special researcher at Su Merchants Bank in Nanjing, eastern Jiangsu province.

According to the latest Hurun Global Rich List, China now has more billionaires than any other country, driven by stock market gains and the rise of artificial intelligence. The Hurun Group report counted 1,110 billionaires in China out of a global total of 4,020, surpassing the United States.
“From a risk perspective, elevated gold prices and softening consumption limit the appeal of high-priced items,” Fu said.
China’s consumption recovery remains modest amid lingering weak sentiment, even as retail sales have picked up from a low base.
In December, retail sales rose 0.9 per cent month on month, the slowest monthly growth of the year and marking a slowdown for seven consecutive months. In the first two months of 2026, retail sales grew 7.2 per cent year on year, supported by the Spring Festival holiday, according to the National Bureau of Statistics.
Against this backdrop, Chow Tai Fook appointed David Tse, former creative director of Hermes China, as global creative director in early March as the jeweller pushes ahead with its luxury brand transformation.
The company is also raising prices for some fixed-price gold items in mid-March amid rising bullion costs. On Thursday, its pure gold jewellery was priced at 1,586 yuan per gram.
Elsewhere in the sector, Hong Kong-listed luxury gold retailer Laopu Gold issued a positive profit alert on Wednesday. The company expects net profit for the second half of 2025 to reach between 2.5 billion yuan and 2.6 billion yuan, implying year-on-year growth of 186 to 197 per cent, with revenue forecast at 14.6 billion yuan to 15.6 billion yuan.
US investment bank Jefferies said the earnings outlook exceeded market expectations by 10 to 20 per cent, driven mainly by stronger-than-expected gross profit margins and operating leverage.


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All that glitters goes viral as Chow Tai Fook unveils US$115,000 gold AirPods case

Chow Tai Fook’s diamond-studded gold AirPods case is priced at 788,800 yuan. Photo: Handout

Chow Tai Fook Jewellery is making a strategic push to tap China’s expanding high-net-worth consumer segment. Photo: May Tse

 Chow Tai Fook’s diamond-studded gold AirPods case is priced at 788,800 yuan. Photo: Handout

Chow Tai Fook’s gold-inlaid hair clips cost 2,080 yuan each. Photo: Handout

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Gold gadgets and hair clips ignite discussion online as the jeweller looks to the ultra-rich to set the gold standard for luxury spending


Gold gadgets and hair clips ignite discussion online as the jeweller looks to the ultra-rich to set the gold standard for luxury spending.


All that glitters goes viral as Chow Tai Fook unveils US$115,000 gold AirPods case

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Gold gadgets and hair clips ignite discussion online as the jeweller looks to the ultra-rich to set the gold standard for luxury spending

Gold gadgets and hair clips ignite discussion online as the jeweller looks to the ultra-rich to set the gold standard for luxury spending