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Chow Tai Fook saw positive retail sales growth in the fiscal fourth quarter, ending a long run of declines at the Hong Kong-based jeweler. Retail sales in mainland China increased 16%, with same-store sales rising 12% during the three months that ended March…
Hong Kong jewellery company Chow Tai Fook has paid a record HK$553 million (US$71.2 million), including fees, for the illustrious Pink Star diamond. This makes the diamond the most expensive precious stone sold at auction. The sale relieves auction house…
Hong Kong’s retailers and mall operators are crossing their fingers in the hope that the signs of recovery in tourist arrivals and the return of spending aren’t flashes in the pan. Jewellers like Chow Tai Fook and retailers are reporting that the pace of…
Hong Kong jeweller Chow Tai Fook is looking to Japan for growth to compensate for its challenges in greater China. The company is about to open a shop inside the Laox duty-free shopping centre in Tokyo’s Shinjuku district, a prime destination for Chinese…
A 23.5 per cent drop in revenue to HK$21.526 billion (US$2.775 billion) was recorded by Chow Tai Fook Jewellery Group for its latest six months. Its interim results for the period to September 30 show same-store sales in Hong Kong/Macau dropped by 25.7 per…
Chow Tai Fook sales plunged in both Hong Kong and Mainland China markets in the quarter to September 30. By value, same-store sales fell by 30 per cent in Hong Kong and Macau and by 22 per cent on the mainland. By volume, same-store sales in Hong Kong fell 39…
From fast-fashion chain H&M to lifestyle brand Maison Kitsune and cosmetics firm Innisfree, mass-market retailers are setting up shop in premises previously occupied by luxury brands in Hong Kong’s prime shopping districts. Aided by falling rents in top…
Chow Tai Fook reported profit tumbled 46 percent in the past fiscal year as fewer tourists visited Hong Kong and a downturn in Greater China reduced consumer spending. Profit slumped to $383.6 million (HKD 2.98 billion) in the 12 months that ended March 31,…
Chow Tai Fook Jewellery Group, the world’s largest listed jewelry chain, will be more “selective” in expanding in mainland China, after it posted on Tuesday the steepest decline in full-year profit since it listed locally due to the economic slowdown. Listed…
Hong Kong jewellery retailer Chow Tai Fook Enterprises is diversifying into gaming, and is lead partner in a three-way joint venture developing Vietnam’s second integrated resort casino. After a prolonged delay, work has started on the $4 billion project’s…
The Chow Tai Fook brand took almost 90 years to become a family empire spanning Hong Kong shopping centers, the world’s largest jewelry chain and casinos to give patriarch Cheng Yu-tung a $10 billion net worth. Alibaba Group Holding Ltd.’s founder Jack Ma…
Hong Kong retail sales, which suffered their worst decline in 13 years last year, saw weak sentiment extending into January on slumping tourist arrivals, weak local consumption and a strong local currency. Retail sales in January slid 6.5 per cent from a year…
Chinese New Year sales for the Chow Tai Fook Jewellery Group took a dive in Mainland China, Hong Kong and Macau. Unaudited figures for the period, from January 25 to February 14, show the value of retail sales dropped 30 per cent in China and 23 per cent in…
Hong Kong’s top jewellery firm Chow Tai Fook and cosmetics retailer Sa Sa saw sales declines of at least 20 percent during the key Lunar New Year shopping season, as China’s slowing economy weighed on consumer spending. Chow Tai Fook Jewellery Group Ltd, Hong…
Two months after jeweller Chow Tai Fook set up its first shopping mall selling Hong Kong products in the Qianhai free-trade zone, it was offered opportunities by several mainland cities, including Shanghai, inviting it to build such malls in their free-trade…
Jeweller Chow Tai Fook continues to be battered by the declining number of wealthy Mainland Chinese tourists visiting Hong Kong and Macau. The Hong Kong listed retailer has revealed its same store quarterly sales slumped 23 per cent in Hong Kong and Macau in…
