Tse Sui Luen Jewellery (International) Ltd. (00417.HK) expects flat sales during the coming Lunar New Year holidays and Valentine’s Day compared with the same period last year, the Hong Kong Economic Journal reported Thursday.
Estella Ng Yi-kum, the firm’s chief strategy officer and chief financial officer, said the city’s retail prospects are likely to remain tough in the next 12 to 18 months.
The company will diversify its product mix, introducing more lower-end items to draw consumers, Ng said.
Meanwhile, TSL is switching more of its stores from tourist districts to residential areas, eyeing more repeat sales from loyal customers rather than one-time clients.
Half of the firm’s stores are located in residential areas at the moment, and one-third of all its stores need to renew their leases each year.
The company aims to open 100 new stores in mainland China each year, especially in second- and third-tier cities.
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