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Luk Fook
Luk Fook Sales Tank During Pandemic
Luk Fook’s sales plunged 71% in the first fiscal quarter as the coronavirus continued to reduce foot traffic and tourism.Total same-store sales — at Luk Fook outlets open for more than a year — in Hong Kong and...
Retail Jul 26, 2020 Rapaport News
Luk Fook 150
Pandemic Pinches Luk Fook Revenue
Luk Fook’s revenue and profit fell in fiscal 2020 as the coronavirus and social unrest in Hong Kong hampered sales.Overall revenue for the Hong Kong-based jewelry retailer dropped 29% to HKD 11.23 billion ($1.45...
Retail Jun 29, 2020 Rapaport News
Luk Fook store MixC World in Shenzhen Bay
Luk Fook Hit by COVID-19 Closures
Luk Fook’s same-store sales dropped 57% in the fourth fiscal quarter amid extensive retail closures for the first two months of the year and sluggish footfall in March.The jeweler saw a 60% year-on-year slide...
Retail Apr 22, 2020 Rapaport News
Luk Fook
Luk Fook Warns of Profit Drop Amid Lockdown
Luk Fook expects a sharp fall in both revenue and profit for the full fiscal year amid a lockdown in all its major markets due to the coronavirus.“Based on…data for…January and February, and the preliminary...
Retail Mar 19, 2020 Rapaport News
RDI ring 150
De Beers Brings Its Grading Services to US
De Beers Group Industry Services will provide diamond-grading reports to RDI Diamonds in its first foray into the US market.The grading-lab arm of the mining giant will be the exclusive provider of grading services for the New...
Retail Feb 02, 2020 Rapaport News
Luk Fook Hong Kong store 2016
Luk Fook to Reduce Hong Kong Presence
Luk Fook plans to scale back its Hong Kong store network and expand in mainland China and Macau, as events in the region have influenced consumer spending.The retailer expects a “single-digit” decrease in the number of rental...
Retail Jan 20, 2020 Rapaport News
The Next Diamond Decade
The Next Diamond Decade
It wasn’t that long ago that De Beers declared the 2010s “The Diamond Decade.” Growth in China and India was projected to drive demand, while the US would take small steps out of recession. This is what...
Polished Markets Dec 25, 2019 Avi Krawitz
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
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