The reasons why Chow Tai Sang is cheaper than Chow Tai Fook include: brand awareness, materials and craftsmanship, sales channels and scale, etc.
1. Brand awareness
Chow Tai Seng may be less well-known in the market than Chow Tai Fook. Because Chow Tai Fook is one of the more well-known jewelry brands in China and has established a long-term reputation in the market. Zhou Dasheng may be relatively new, and there is still a certain gap in popularity, so the price may be more affordable.
2. Materials and craftsmanship
Chow Tai Fook may pay more attention to quality and finesse in selecting materials and craftsmanship. They may use higher-grade materials and more complex craftsmanship to create jewelry, thereby increasing the price of the product. The materials and processes Zhou Dasheng may use are relatively simple, so the price is relatively low.
3. Sales channels and scale
Chow Tai Fook may have more extensive and diversified sales channels. They may have more physical stores and sales teams to better cover market needs. Zhou Dasheng may be relatively small in scale and may have relatively limited sales channels, which will also affect the pricing of product prices.
The development history of Chow Tai Fook brand:
1. 1929
Chow Tai Fook’s first gold store was founded by Mr. Zhou Zhiyuan on Hongde Road, Henan, Guangzhou. At that time, Chow Tai Fook mainly dealt in traditional gold jewelry.
2. In 1956
Chow Tai Fook was officially taken over by Dr.
3. 1964
Chow Tai Fook opened a diamond cutting factory in Johannesburg, South Africa, and in the same year received an allotment from De Beers, the world's largest diamond rough manufacturer. patent.
4. 1970s
Chow Tai Fook launched 999.9 gold jewelry in Hong Kong and Macao, China, becoming a successful example of gold jewelry.
5. 1973
Chow Tai Fook became one of the 125 international authoritative diamond dealers in the world (selected to 78 in 2008) of De Beers (now DTC International Diamond Trading Company).
6. 1984
The 999.9 pure gold jewelry pioneered by Chow Tai Fook was stipulated as the fineness standard for Hong Kong gold jewelry in the Hong Kong government’s gold products legislation. The market also equates Chow Tai Fook's gold with quality assurance, making it the first choice brand for Hong Kong consumers looking for gold jewelry.
7. 1990
Chow Tai Fook innovatively promoted "fixed price" jewelry with cost and reasonable profits, which has now become another synonym for "genuine goods at a reasonable price".
8. 1998
Chow Tai Fook opened its first specialty store in mainland China at Guiyou Shopping Center in Jianguomen, Beijing. In the same year, it established the China Operations Management Center in Shunde, Guangdong, responsible for managing China Mainland business. Since then, Chow Tai Fook's business in mainland China has entered a period of rapid development.
9. 2001
On August 13, 2001, Chow Tai Fook and Wuhan Guomao Business Service Co., Ltd. jointly established Wuhan Xinfu Jewelry and Gold Co., Ltd. in Wuhan as a joint venture. The first step of business in mainland China was launched.
10. December 2002
Chow Tai Fook opened its 100th store in mainland China at Beijing Road Pedestrian Street in Guangzhou. In the same year, Chow Tai Fook, as the only brand in the jewelry industry, ranked among the "Top Ten Famous Brands in Hong Kong".
Reference for the above content: Chow Tai Sang Jewelry Official Website - Home Page
Reference for the above content: Baidu Encyclopedia - Chow Tai Fook