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Hong Kong jewellery retailer Luk Fook has announced the key findings of its latest financial report, detailing substantial sales increases amid the recovery of tourism in Asia. | Source: Lukfook Jewellery
Hong Kong jewellery retailer Luk Fook has announced the key findings of its latest financial report, detailing substantial sales increases amid the recovery of tourism in Asia. | Source: Lukfook Jewellery

Luk Fook celebrates strong jewellery sales

Hong Kong jewellery retailer Luk Fook has announced the key findings of its latest financial report, detailing substantial sales increases amid the recovery of tourism in Asia.

Sales increased by 30 per cent on a year-on-year comparison for the six months ending 30 September. Profit increased by approximately 40 per cent during the same period.

The statement attributed these remarkable increases to the return of tourism to the region and improving consumer sentiment.

"Luk Fook identified the popularity of gold jewellery as crucial to these sales, as well as strong performance from higher-priced products."

“This is mainly attributable to continuous improvement in sentiment in the retail markets of Hong Kong and Macau, following the full reopening of borders,” the statement reads.

“The Group’s performance was further enhanced by a higher overall gross margin due to a much-increased mix of retailing revenue and improved total operating expenses to revenue ratio.”

Luk Fook identified the popularity of gold jewellery as crucial to these sales, as well as strong performance from higher-priced products.

Sales for retail rival Chow Tai Fook increased by six per cent during the first half of the financial year. Luk Fook operates more than 3,000 stores in China and Hong Kong.

More reading
Positive signs: Jewellery sales rising in Asia
Retail rebound continues for Luk Fook
Surging sales continue for Chow Tai Fook
Positive jewellery sales following ease of restrictions
Significant jewellery sales increase for Chow Tai Fook
Significant sales jumps for Chow Tai Fook and Luk Fook
Luk Fook aiming for rapid expansion

 

 











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