Hong Kong-listed jeweller Luk Fook Holdings (International) Limited (the Group) on Sunday announced that the company has opened five new shops in Hong Kong and Macau this month and will open approximately 30 new shops in mainland China before the coming Labour Day Golden Week in May, adding the number of Luk Fook retail outlets across the world to a total of 870.
In order to further expand its jewellery retail network and boost its market share in the Greater China, the company continued to accelerate the pace of shop opening in mainland China, Hong Kong and Macau. Approximately 30 new shops in Beijing, Guangdong, Jiangsu, Shandong, Henan and Shanxi are planned to open before the Labour Day Golden Week in May, making the retail network of Luk Fook in mainland China to have 830 shops covering 30 provinces. The jeweller aims to further increase its market penetration and brand stronghold in the country.
The new shops in Hong Kong and Macau are all situated in hot shopping destinations so as to take the advantages of the high pedestrian flow and excellent accessibility. Three new shops will be opened in Hong Kong including the first outlet in Quarry Bay district, the eighth outlet in Mongkok, and the second outlet in Sheungshui.
The jewellery retailer envisions the rapid growing momentum in Macau. Two new outlets were opened in Macau at Sands Cotai Central. Currently, there are total eight Luk Fook retail outlets in city.
"Over the years, the Group has been enlarging its retail network and holding an optimistic view towards the PRC, Hong Kong and Macau markets. All the newly-opened stores are located in prestigious shopping destinations with high pedestrian flow. We believe that prime locations not only expand the retail network of Luk Fook but also bring satisfactory retail revenue to the Group. The Group will continue to seek suitable locations for further expansion and will also offer high quality products and services to our customers, so as to enhance Luk Fook’s brand recognition," said Wong Wai Sheung, CEO of the company.