“He was lookin' for a place called Chow Tai Fook,” but not to get a big dish of beef chow mein. Warren Zevon references aside, Chow Tai Fook is a jewellery store, one of the many businesses owned and operated by Chow Tai Fook Enterprises Ltd. of Hong Kong.
The company is seeking to attract attention (and investors) as part of a campaign to raise up to HK$22 billion ($2.8 billion) in a financial equities market listing aimed chiefly at investors in China, Hong Kong and Macau. Chow Tai Fook Jewellery has bold expansion plans in Mainland China: by 2020 they hope to have 2,000 chain stores, twice the number reached in September of 2010.
One way to get your name in the news to is to show off something patently outrageous, ridiculously expensive or visually interesting – or even better, all of the above. Say, a solid 24-karat gold statue of a Chinese dragon whose sinuous coils spell out the year “2012”, the Year of the Dragon according to the Chinese zodiac.
And what to our wondering eyes should appear but a nine-tael, 24-karat gold statue in the shape of a dragon forming the numerals “2012”. The sumptuous statue was put on display at one of Chow Tai Fook Jewellery's flagship stores in Hong Kong.
Official measurements in Hong Kong state that one tael is equivalent to 37.79936375 grams, so the nine-tael statue weighs about 12 ounces. With gold currently priced at around $1,700 per ounce, the statue's worth as bullion would be $20,400.
Is there a “statue of limitations”? There's no telling how long the golden dragon will remain in view; that will depend on store policy and, of course, whether any gold bugs out there care to snap the dragon up. (via Telegraph UK and Wikipedia)