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Luk Fook
Hong Kong Troubles Weigh on Luk Fook
Luk Fook’s sales fell 20% in the first fiscal half amiduncertainty in the Hong Kong market and the rising price of gold. Total sales dropped to HKD 6.31 billion ($805.5 million) inthe six months...
Retail Dec 01, 2019 Rapaport News
Luk Foof
Hong Kong Protests Hit Luk Fook
Luk Fook’s same-store sales fell 37% in the second fiscalquarter amid protests in Hong Kong and the continued impact of the US-China trade war. Total same-store sales — at Luk Fook outlets open for morethan...
Retail Oct 29, 2019 Rapaport News
Luk Fook
Luk Fook Sales Drop Due to Trade War
Luk Fook’s same-store sales decreased 10% inthe first fiscal quarter amid an unfavorable comparison with last year and the impact of the US-Chinatariff war. Total same-store sales — at Luk Fook outlets open for...
Retail Jul 23, 2019 Rapaport News
Luk Fook
China Expansion Spurs Luk Fook Growth
Luk Fook’s revenue and profit grew in fiscal 2019, driven by an expansion of its network in mainland China.Overall revenue for the Hong Kong-based jewelry retailer rose by 9% to HKD 15.86 billion ($2.03 billion) in the year ending...
Retail Jul 01, 2019 Rapaport News
Luk Fook
Luk Fook Sales Sluggish in Fourth Quarter
Luk Fook’s same-store sales dropped 6% in the fourth fiscalquarter amid a higher number of purchases for lower-priced products. The Hong Kong-based jeweler sold higher volumes during the period, but not enough to negate the...
Retail Apr 24, 2019 Rapaport News
Luk Fook
China Troubles Hit Luk Fook
Luk Fook’s same-store sales dropped 10% in the third fiscal quarteramid economic weakness in greater China. The depreciation of the Chinese yuan against the Hong Kong dollarled customers to purchase cheaper products in the three...
Retail Jan 20, 2019 Rapaport News
HK
Hong Kong Luxury Sees Rare Drop
Retail sales of jewelry and other luxury items in Hong Kongdeclined for the first time in 17 months as global economic uncertainties impacted consumer sentiment.Revenues from jewelry, watches, clocks and other valuablegifts dropped 3.9% to HKD...
Retail Jan 06, 2019 Rapaport News
Luk Fook Hong Kong store
Hong Kong Jewelers Warn of Slowdown
Hong Kong’s largest jewelry retailers expect sales growth to slow in light of recent US-China trade tensions and the depreciation of the yuan currency.Same-store sales at Luk Fook dropped by a single-digitpercentage in Hong Kong and Macau in October...
Retail Dec 02, 2018 Rapaport News
Luk Fook
Hong Kong Jewelers See Revenue Spike
Sales rose sharply at Chow Tai Fook and Luk Fook in the second fiscal quarter, boosted by strong consumer demand,the lower price of gold, and tourism.Retail sales at Chow Tai Fook jumped 25% year on year...
Retail Oct 21, 2018 Rapaport News
MVI
How Retailers Can Entice Chinese Tourists
You don’t have to be in China to sell to Chinese people.That’s the message from luxury marketing experts, who point out that tourists,students and immigrants from the world’s largest fine-jewelry consumer have ahuge impact on the...
Marketing Oct 17, 2018 Joshua Freedman
Hong Kong skyline
China Positive Amid Short-Term Uncertainty
So far, 2018 has been a positive year for the diamond trade, with the US and China, the two largest diamond-jewelry markets, showing steady growth. In fact, in China, the jewelry-retail sector has experienced positive...
Research Oct 09, 2018 Avi Krawitz
Hk Show registration
Mixed Trading at Stormy Hong Kong Show
The diamond trade expressed some frustration about erratic activity at the Hong Kong Jewellery and Gem Fair which began on Wednesday, particularly amid warnings that a category 10 typhoon might hit the island. Many...
Polished Markets Sep 14, 2018 Avi Krawitz
Alrosa
Alrosa to Strengthen Position in China
Alrosa is looking to expand its presence in China, with plans to increase the number of long-term clients for its rough diamonds in the country. The company currently supplies around 5% of its total sales to entities in China and...
Mining Aug 29, 2018 Rapaport News
Luk Fook 200
Hong Kong Sales Boost Luk Fook
Luk Fook’s same-store sales increased 22% year on year inthe first fiscal quarter, driven by a 26% rise in Hong Kong and Macau. Same-store gold sales — at Luk Fook outlets open formore than a year — in Hong...
Retail Jul 22, 2018 Rapaport News
Luk Fook 150
Tourism Boosts Luk Fook Results
Luk Fook’s profit and revenue rose in fiscal 2018, buoyed byincreased tourism from mainland China, it said Wednesday. The company’s profit climbed 33% to $174.6 million (HKD 1.37billion) in the 12 months ending March 31,...
Retail Jun 28, 2018 Rapaport News
Luk Fook
Hong Kong Tourism Fuels Luk Fook Growth
Luk Fook saw a strong increase in its performance in thefourth fiscal quarter amid improved sentiment and a higher rate of tourism to Hong Kong. Same-store sales for all categories rose 16% year on year for the...
Retail Apr 23, 2018 Rapaport News
Luk Fook Sales Rise 150
Luk Fook Sees Modest Sales Gain
Luk Fook’s same-store sales increased 1% year on year in thethird quarter ending December 31, driven by a 10% rise in gem-set jewelry.“The gem-set jewelry products in [the] Hong Kong and Macau market continued to benefit from the...
Retail Jan 18, 2018 Rapaport News
Hong Kong Jewelry Retail 150
Hong Kong Recovery Boosts Jewelry Sales
Sales of jewelry, watches and other luxury items in HongKong rose in the first 11 months of 2017 as tourists returned and localconsumer sentiment recovered, the city’s official data authority said.Retail sales for the category grew...
Retail Jan 04, 2018 Rapaport News
Bull bear stocks
Five Takeaways from the Stock Market in 2017
In a year of soaring stock prices, US retail shares largely underperformed in 2017 as consumers (and investors) abandoned traditional shopping channels in favor of e-commerce platforms. As a result, familiar names such as J.C. Penney, Macy’s and Signet Jewelers slipped...
Retail Jan 01, 2018 Joshua Freedman
Luk Fook Jewellery Macau
Luk Fook Sees Further Growth in China
Hong Kong-based jeweler Luk Fook is planning to accelerate its expansion in mainland China after seeing steady growth in the fiscal half-year that ended September 30.The company attributed its improvement to a successful new product strategy...
Retail Nov 30, 2017 Rapaport News
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