Golden time for Chow Tai Fook sales
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.