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Chow Tai Fook Sales Rise as China Recovers
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Sales at Hong Kong-based jeweler Chow Tai Fook grew almost 18% in the last three months of 2020 as a recovery in mainland China outweighed weakness in its home territory.“In light of the easing Covid-19 situation in mainland China,...
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Retail
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Jan 11, 2021
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Rapaport News
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Luk Fook Suffers as Tourists Snub Hong Kong
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Sales at Luk Fook slumped in the second fiscal quarter as the Hong Kong-based jeweler suffered from a continued slowdown in tourism and local demand in its home city.Group-wide same-store sales — at branches open for at least a year...
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Retail
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Oct 19, 2020
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Rapaport News
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China Resurgence Lifts Chow Tai Fook
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Retail sales at Chow Tai Fook grew 2.6% year on year in the second fiscal quarter as a strong recovery in China outweighed continued weakness in Hong Kong.Sales rose 21% on the mainland while slumping 52% in Hong Kong...
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Retail
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Oct 18, 2020
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Rapaport News
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Tse Sui Luen Expects Loss Amid Tourist Slowdown
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Hong Kong-based jeweler Tse Sui Luen (TSL) expects to incur a net loss of at least HKD 40 million ($5.2 million) for the first fiscal half as the Covid-19 pandemic depressed the company’s sales.The loss for...
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Polished Markets
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Oct 13, 2020
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Rapaport News
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Chow Tai Fook Sees Dim Hong Kong Outlook
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Chow Tai Fook expects sales in Hong Kong to remain weak after reporting a sharp slump in revenue and profit due to the coronavirus. Consumer demand was slow in the municipality in April and May as tourists stayed...
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Retail
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Jun 11, 2020
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Rapaport News
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Luk Fook Hit by COVID-19 Closures
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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...
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Retail
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Apr 22, 2020
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Rapaport News
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Luk Fook to Reduce Hong Kong Presence
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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...
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Retail
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Jan 20, 2020
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Rapaport News
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Chow Tai Fook to Shut Stores in Hong Kong
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Chow Tai Fook intends to close up to 15 stores in Hong Kong as street protests and a tourism slowdown have hit sales.Leases on more than 40 of the jeweler’s 91 retail locations in the municipality are due to expire during the fiscal...
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Retail
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Jan 14, 2020
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Rapaport News
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Macau Exchange Targets Rough Trading
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Macau is hoping to leverage its relations with Portuguese-speaking diamond producers to emerge as a competitive rough-trading hub. Members of the newly created Macau China Diamond & Gem Exchange (MDGE) last week signed an agreement with the...
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Rough Markets
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Sep 16, 2018
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Rapaport News
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Hong Kong Growth Boosts Chow Tai Fook
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Chow Tai Fook’s sales grew strongly in the first fiscalquarter due to stronger consumer sentiment in Hong Kong and increased tourismto the municipality from mainland China. Retail sales jumped 21% in Hong Kong and...
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Retail
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Jul 19, 2018
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Rapaport News
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Hong Kong’s TSL Sees Revenue Jump
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Sales and profit grew sharply at Tse Sui Luen (TSL) inthe past 12 months amid stronger consumer sentiment in Greater China and a risein tourism to Hong Kong. Revenue jumped 12% to $486 million (HKD 3.81...
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Retail
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Apr 29, 2018
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Rapaport News
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Luk Fook Sees Modest Sales Gain
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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...
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Retail
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Jan 18, 2018
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Rapaport News
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Chow Tai Fook China Expansion Spurs Growth
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Chow Tai Fook reported a sharp rise in gem-set-jewelry sales in Hong Kong, while expansion in mainland China helped drive growth in its fiscal third quarter, as the local retailsector continued to improve.Overal retail sales grew 12%...
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Retail
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Jan 10, 2018
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Rapaport News
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Bonhams Names Hong Kong Jewelry Consultant
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Bonhams has appointed seasoned luxury authority PaulRedmayne-Mourad as its jewelry consultant in Hong Kong, the auction house saidThursday.Redmayne-Mourad (pictured) has 20 years’ experience in high-end jewelryretail, most recently at London-based jeweler David Morris and with...
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Retail
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Nov 02, 2017
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Rapaport News
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Sales Jump at Hong Kong Jeweler TSL
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Hong Kong-based jewelry retailer Tse Sui Luen (TSL) sawrevenue and profit leap in the first fiscal half as the number of touristsvisiting the municipality increased.Sales rose 12% to of $222.1 million (HKD 1.73 billion) forthe...
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Retail
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Oct 29, 2017
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Rapaport News
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Luk Fook Growth Reflects China Recovery
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Luk Fook recordedan increase in same-store sales in its second fiscal quarter, driven by strongperformances in mainland China and Hong Kong after a prolonged revenue decline.Same-store sales grew 17% year on year in thethree months that ended...
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Retail
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Oct 24, 2017
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Rapaport News
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Chow Tai Fook Enjoys Continued Gains
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Chow Tai Fook’s sales jumped in the second fiscal quarter,confirming the Hong Kong-based jeweler’s recovery following a slump in theGreater China market.Retail sales rose 15% year on year in mainland China and by 12% inHong Kong...
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Retail
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Oct 19, 2017
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Rapaport News
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New York, Shanghai Bourses to Work More Closely
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The Diamond Dealers Club of New York (DDC) and the ShanghaiDiamond Exchange (SDE) have agreed to enhance their relationship and createextra trading opportunities for members. Reuven Kaufman, president of the DDC (pictured, left),...
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Polished Markets
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Sep 13, 2017
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Rapaport News
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Luk Fook Extends Turnaround with Sales Boost
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Luk Fook Holdings recorded an increase in sales in its fiscal first quarter, driven by an improvement in mainland China after a prolonged decline in turnover.The Hong Kong-based jeweler reported same-store sales growth of 5% year-on-year in the three months that...
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Retail
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Jul 20, 2017
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Rapaport News
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Chow Tai Fook Restores Elusive Sales Growth
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Chow Tai Fook’s sales grew in the second fiscal half amid a recovery in consumer sentiment in Greater China, the retailer reported.The 4.4% increase to $3.8 billion (HKD 29.72 billion) was the Hong Kong-based jeweler’s...
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Retail
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Jun 11, 2017
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Rapaport News
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