High-end jeweler, Chow Sang Sang, opts for Nuvei to fuel online transactions and hasten worldwide growth
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Chow Sang Sang, a renowned luxury jeweler with over 900 stores across Asia, has announced a strategic partnership with global payments company Nuvei. This collaboration is a key part of Chow Sang Sang's omnichannel strategy, focusing on international expansion, particularly targeting North America.
Nuvei is contributing significantly to this expansion by providing a global payments platform that enables Chow Sang Sang to simplify and localize payments across multiple markets, including North America.
With Nuvei's help, Chow Sang Sang can now offer local acquiring and settlement in 50 markets, supporting over 150 currencies and 720 alternative payment methods. This facilitates seamless cross-border transactions, a crucial aspect for any global brand.
Moreover, Nuvei's direct connections to global card networks help increase payment approval rates and reduce friction at checkout, enhancing the customer experience.
Nuvei's long-term commitment to the APAC region is evident as it continues to expand its on-the-ground presence across Greater China, Japan, Singapore, and Australia. The company recently obtained a Money Services Operator (MSO) license in Hong Kong, allowing local acquiring and settlement in one of Asia's strategically important markets.
Chow Sang Sang's Chief Brands Officer, Genevieve Chow, stated that partnering with Nuvei aligns with their dedication to excellence and is a crucial element of their omnichannel strategy to meet premium customer expectations across regions.
The global online jewelry sales are projected to rise from $105.6 billion in 2024 to $166 billion by 2029, a 16% CAGR. Chow Sang Sang's expansion into North America comes at an opportune time, as the U.S. ecommerce sales of jewelry are projected to rise from $22.5 billion to $37.9 billion over the same period.
Nuvei has already supported APAC expansion for category leaders such as Shein, Temu, and Charles & Keith. This partnership with Chow Sang Sang is another step in Nuvei's mission to support the region's most ambitious companies with payments technology built for scale.
Chow Sang Sang brings to market a portfolio of beloved brands, including CHOW SANG SANG, PROMESSA, MINTYGREEN, and EMPHASIS. By partnering with Nuvei, they aim to deliver a premium, omnichannel customer experience outside of their traditional Greater China base.
In the U.S. alone, ecommerce sales of jewelry are projected to rise from $22.5 billion to $37.9 billion over the same period. Chow Sang Sang's expansion into North America is set to capitalize on this growth, leveraging Nuvei's advanced payments platform to enable localized, seamless, and scalable digital payment capabilities.
This partnership underpins Chow Sang Sang's global expansion plan and supports their premium brand experience both online and in physical stores. Through a single integration with Nuvei's platform, Chow Sang Sang gains access to local acquiring in 50 markets, simplifying their technical deployment globally while ensuring localized payment experiences consistent with the brand's standards.
[1] Chow Sang Sang Press Release, www.chowsangsang.com/press [2] Nuvei Press Release, www.nuvei.com/press [3] Nuvei Corporate Website, www.nuvei.com [4] Nuvei North American Infrastructure, www.nuvei.com/us
- The strategic partnership between Chow Sang Sang and Nuvei is not only about international expansion, but also involves integrating technology in their business strategies, using Nuvei's global payments platform to streamline and localize payments across multiple markets, particularly North America.
- In the competitive world of finance, Chow Sang Sang's partnership with Nuvei is a strategic move towards business growth, enabling them to offer localized payment solutions in 50 markets, supporting over 150 currencies and 720 alternative payment methods, thereby facilitating seamless cross-border transactions for their premium customers.
