Chow Tai Fook sales is blooming
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Growth momentum has continued for Chow Tai Fook sales as the group looks at further expansion in China.
Revenue contribution from Mainland China has increased steadily over the past few years,
and contributed more than 60 per cent of group revenue in the half-year to the end of September.
China delivered 16.3 per cent growth while Hong Kong, Macau and other markets grew by 13.1 per cent.
With improving consumer sentiment plus rising opportunities from the development of shopping malls, the company plans to expand its retail network on the mainland in the second half. With 11 point-of-sale openings, it had 2358 outlets at the end of September, including 95 outlets in Hong Kong and Macau, where 10 stores were closed during the six months, mainly in tourism areas, and two new ones opened in Tsuen Wan and Yuen Long.
Chow Tai Fook plans to close more stores in tourist areas and open in selected residential neighbourhoods.
Questions & Answers
Q.What proportion of Chow Tai Fook's group revenue now comes from Mainland China?
What proportion of Chow Tai Fook's group revenue now comes from Mainland China?
Mainland China contributed more than 60 per cent of the group's revenue in the half-year ending in September. This demonstrates a steady increase over the past few years.
Q.How many new outlets did Chow Tai Fook open recently and what was their total number of stores?
How many new outlets did Chow Tai Fook open recently and what was their total number of stores?
The company opened 11 point-of-sale locations, bringing their total to 2358 outlets by the end of September. This expansion is part of their growth strategy.
Q.What is Chow Tai Fook's strategy for its store network in Hong Kong and Macau?
What is Chow Tai Fook's strategy for its store network in Hong Kong and Macau?
They closed 10 stores in Hong Kong and Macau, mainly in tourism areas, while opening two new ones in Tsuen Wan and Yuen Long. The plan is to close more tourist-area stores and open in residential neighbourhoods.
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