Wanxiang Series: From Cultural Heritage to Commercial Hit

On July 23, 2026, Chow Tai Fook Jewelry Group released its unaudited operating data for the first quarter of fiscal 2027. Retail value grew 15.1% year-over-year, with mainland China up 10.7% accounting for 83.6% of total, and Hong Kong, Macau and other markets surging 44.8%. The standout performer was the "Wanxiang" series launched in April — its debut quarter retail value exceeded HK$870 million, far surpassing management expectations.

The success of Wanxiang was no accident. Inspired by the Eastern philosophy of "all things have form," the series integrates traditional motifs with modern craftsmanship across pure gold necklaces, bangles, earrings and more. Against the backdrop of high gold prices, Wanxiang adopted fixed pricing rather than per-gram pricing, successfully shifting consumer focus from "price per gram" to "value of design."

The Shift Between Fixed-Price and Per-Gram Gold

This quarter's data reveals a subtle shift: mainland fixed-price jewelry same-store sales decreased 1%, with retail value down 8.2% and share dropping from 34% to 29%. Meanwhile, per-gram gold performed relatively steadily. This trend reflects consumers' rational return after gold price corrections — as prices retreated from yearly highs, per-gram gold products regained their price transparency advantage.

However, the blockbuster success of Wanxiang proves that fixed-price products with cultural depth and design differentiation still command powerful market appeal. The "Chinese Couture" fine jewelry series launched in June further extends this strategy. The group also added 4 new premium image stores in Changsha IFC and Nanjing Deji Plaza, bringing the mainland total to 12, charting a clear brand upgrade path.

Industry Restocking Amid Gold Price Correction

World Gold Council data shows June Shanghai Gold Exchange gold withdrawals surged 36% month-over-month to 87 tons, driven by opportunistic industry restocking and individual investors buying on dips. On July 29, domestic base gold prices fell to 882.5 yuan/gram, branded gold jewelry maintained 1,228-1,232 yuan/gram, while Shuibei gold jewelry was about 1,049 yuan/gram, with the price gap attracting massive consumer traffic.

This polarization demands differentiated approaches from the jewelry packaging industry: high-end fixed-price products require customized jewelry box designs and display props that carry brand cultural narratives, while the mass market for per-gram gold prioritizes cost-effective jewelry box wholesale and jewelry bag manufacturing. In both segments, professional jewelry packaging design is a critical element in elevating brand value and consumer experience.

This article is originally published by Shengyixiang, with 21 years of dedication to jewelry box, watch display, jewelry display props, and jewelry packaging production and design.

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