Zoff Hong Kong eyewear chain boosting CRA’s bottom line
Zoff Hong Kong may have only six stores for now, but the Japanese eyewear brand is proving a standout for local licensee Convenience Retail Asia.
Victor Fung, chairman of the listed Fung Group affiliate, says Zoff Hong Kong has enjoyed “remarkable success” since CRA opened the first store in November 2017 at Cityplaza in Taikoo Shing. The five stores opened since are all in high-traffic locations popular with trendy young clientele, including one at Langham Place.
Zoff’s business model is to offer customers a constantly refreshed range of frames to suit all styles, high quality frames at affordable prices and made onsite within a fast turnaround time. Fung says this is ideal for the new generation of consumers, always on the go.
Zoff stores carry more than 2500 different frames and new items are introduced biweekly.
The chain has also launched themed promotions, including a selection with popular actress and model Kiko Mizuhara and collections themed on Disney, Star Wars and Andy Warhol.
CRA has invested heavily in brand advertising for the new chain, including outdoor advertising, prize promotions and joint marketing initiatives with other brands within the Fung Group.
While CRA did not detail the chain’s financial performance, the company noted in its annual results that Zoff had contributed to both revenue and profit growth.
“The group is proud to be the only licensee for the Zoff franchise in the world,” said Fung. “This fast-fashion eyewear chain, with its eye-catching blue-and-white branding, is highly regarded among Hong Kong’s young generation. Under the group’s guidance, Zoff has truly energised the Hong Kong eyewear market since entering in late 2017.”
More Zoff stores are scheduled to open this calendar year.
“The group remains bullish about the prospects for Zoff. Despite a number of competitors entering the market, our first-mover status and Hong Kongers’ affinity for the famous Zoff brand continue to drive healthy growth,” he said.