February 18th, 2020
Hong-Kong based jeweller Chow Tai Fook has closed over 40 points of sale in Hong Kong and Macau over “the ongoing threat of the coronavirus”, IDEX Online reports.
In addition, the jeweller’s remaining stores will reduce their operating hours and will close at 7 pm. For the time being, Chow Tai Fook does not plan to fire staff, instead directing them to “take their annual leave or work in other stores”. According to earlier reports, Chow Tai Fook has already closed nearly 80% of its stores in China, where IDEX Online reports it has over 3,600 points of sale.
Recently, the Hong Kong Trade Development Council (HKTDC) announced the postponement of the upcoming Hong Kong International Diamond, Gem & Pearl Show 2020 (originally scheduled for March 2-6) and the HKTDC Hong Kong International Jewellery Show 2020 (originally scheduled for March 4-8) to May 18-21, 2020. In its announcement, the HKTDC said that it is rescheduling the shows “in line with the measures taken by the Hong Kong SAR Government against the spread of the novel coronavirus.