Chow Tai Fook Jewellery Group said total revenue surged 46 percent for the third quarter, on the back of “sustained” festive demand across mainland China, and stellar growth in Hong Kong and Macau.
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During the quarter ended December 31, retail sales lifted 42 percent in mainland China, while sales skyrocketed by 70 percent in other markets, including Hong Kong and Macau.
Same-store sales of gold jewellery increased by 32 percent, while gemstone-set jewellery decreased by 1.9 per cent, said the Hong Kong-based jeweller.
From December 30 to January 1, the company said it also witnessed sustained festive demand in mainland China, with retail sales increasing 60 percent year-over-year.
“Our 360-degree global diamond campaign continued in this quarter, with positive reception and publicity presented across multiple channels in our major markets,” said the group in a press release.
“We brought the ‘Beyond Time’ diamond exhibition to Beijing in December, following its successful debut in Hong Kong. We also witnessed that quality gem-set jewellery continued to be favoured by consumers. For instance, retail sales value of Wonderful Life Collection in the mainland doubled in this quarter, compared to the same period last year. Our newly launched Chow Tai Fook Dancing Lily Collection was also well received by our customers in both the mainland and Hong Kong and Macau.”
In a bid to enhance its brand equity and appeal to a new generation of shoppers, Chow Tai Fook announced last June plans to relaunch its brand identity, with a gradual roll-out of redesigned stores, displays, and packaging, and a revamped loyalty programme.
The first refreshed store is set to be unveiled in Hong Kong next summer, said the company at the time of the announcement.