Core Insights - The gold jewelry industry is undergoing a significant transformation, with a notable reduction in the number of retail stores despite rising gold prices [1] - Major brands are actively closing underperforming franchise stores while increasing self-operated and experiential outlets, indicating a shift towards a more efficient store structure [1] Group 1: Market Trends - As of November 10, international gold prices have surged, with spot gold exceeding $4,060 per ounce, reflecting a daily increase of 1.47% [1] - Despite the high gold prices, the number of gold retail stores in China is decreasing, with nearly 2,000 closures reported among leading brands this year [1] Group 2: Company Strategies - Leading brands such as Chow Tai Fook, Chow Sang Sang, Lao Feng Xiang, Chow Tai Sheng, and Chow Sang Fook are focusing on closing inefficient franchise stores [1] - The strategy includes enhancing self-operated and experiential stores to improve overall store performance and customer engagement [1]