Fashion
Hong Kong based fashion eyewear chain eGG Optical Boutique is continuing its stunning growth trajectory.
According to parent Stelux, the chain’s sales increased by 46.4 per cent to HK$80.5 million in the six months to September 30.
Its 21 Hong Kong stores have now reached breakeven point and the 34 Mainland China stores cut their operating loss to just $3.3 million. Same store growth in all markets continued to grow.
A further three stores have recently opened in Southeast Asia.
Stelux believes the eGG Optical Boutique fast fashion eyewear concept has found favour with shoppers because it captures consumer preference for trendy and fancy optical eyewear.
In the first half of last financial year the Hong Kong operations lost $500,000 and in the second half $200,000, finishing the year with just 15 stores. That a further six have been opened in the first six months of this year demonstrates the confidence Stelux has in the new brand. Its Hong Kong stores improved sales by 45 per cent due to both network expansion and increasing same store sales.
In the mainland, eGG Optical’s sales rose 48.8 per cent to $31.0 million.
“The loss was reduced to $3.3 million owing to significant operating improvements in Northern China and close to breakeven achieved in Southwestern China through turnover growth,” reported Stelux.
“Combined with eGG’s attractive and eye-catching shop visual merchandising and ability to attract consumer traffic appreciating lifestyle and fashion design, the group will capture the opportunities in the current soft leasing market to further expand into Mainland China.”
