Hong Kong jewellery giant looks to Japan to offset losses at home

Chow Tai Fook, the largest jewellery retailer in Hong Kong, is shifting its focus to Japan as the number of visitors from mainland China plummets at home.

The brand will open a shop on the premises of Laox, a duty-free complex in Shinjuku that is a prime destination for Chinese tourists in Tokyo. Sales in Hong Kong have shrunk steadily in recent years and fell by nearly 26 over a six-month period to September, due largely to a 4.5 percent fall in tourism last year. The dip is the largest since the Sars outbreak in 2003.

Chow Tai Fook operates 19...

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