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Chow Tai Fook to Sell Diamonds to U.S. Retailers

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Chinese jeweler to start wholesale business within a year.

Hong Kong-based jeweler Chow Tai Fook will begin selling diamonds to retailers in the U.S. “as it seeks to offset effects of a slowdown in China that has hurt luxury sales and led profits to plunge,” Bloomberg reports. The article says that the jewelry chain plans to start the new U.S. wholesale business within a year. “We are interested in the U.S. market because it has the largest demand for diamonds in the world. It contributes to 40 percent of diamonds sales,” Chow Tai Fook Managing Director Kent Wong told the business news outlet.

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