Good news for Chow Tai Fook Jewellery Group, who has suffered in sales for most of 2016. According to Rough & Polished, Chow Tai Fook’s sales for the three months ended December 31, 2016, has improved 7% year-on-year for Mainland China. E-commerce business in Mainland China grew by 25%.
Hong Kong and Macau, however, fell 6% year-on-year. In Mainland China, gemset jewelry “had a 24% share, gold products a 60% share, platinum/karat gold products an 11% share and watches a 5% share”, according to the report.
As for same-store sales, Chow Tai Fook recorded a rise of 4% for Mainland China but a drop of 2% for Hong Kong and Macau. Same-store sales volume performance for both territories was similar – a 9% decrease in both areas.
