Chow Tai Fook Jewellery Group (CTF) has announced that its retail sales were up 26% during the three months ended September 30, 2022 (Q2 of FY2022), Rough & Polished reports.
The rise in retail sales is attributed to mainland China, which accounts for 90.7% of the group’s retail business. Sales in mainland China registered a 27.8% increase, while retail sales in Hong Kong, Macau and other markets rose 11%.
In China, gold jewelry and other products were up 9.4%, while sales of gem-set, platinum and K-gold jewelry fell 10.5%. Sales of gem-set, platinum and K-gold jewelry rose 5.6% in Hong Kong, Macau and other markets, while sales of gold jewelry and other products grew 10.5% there.
Chow Tai Fook has 6,679 points of sale (POS) and 269 POS for other brands as of end-September 2022.
