Date
21 August 2017

Chow Tai Fook aims to add 200 points of sale next fiscal year

Chow Tai Fook Jewellery Group Ltd. (01929.HK), the world’s largest jewelry retailer by market value, aims to add 200 points of sale in the fiscal year to March 2015, managing director Kent Wong told reporters in a conference call on Tuesday.

In the third quarter ended December in the current fiscal, the company added 94 points of sale, bringing its total sales outlets to 2,048.

Chow Tai Fook’s sales rose 26 percent from a year earlier in the three months to December, with same-store sales up 11 percent. The company is “comfortable” with the same-store sales growth, although it has dropped sharply from the 33 percent pace recorded in the fiscal first-half. Sales growth in the April-September period came amid a gold buying spree by consumers earlier last year.

The jewelry retailer has no plan to expand into Asia outside China for now.

– Contact HKEJ at [email protected]

JZ/JP/RC

 

EJI Weekly Newsletter

Please click here to unsubscribe