Chow Tai Fook, China’s biggest jeweler by market value, has opened 624 new outlets in the first six months of 2021 – “in line with a pledge to expand to 7,000 points of sale by 2025,” IDEX Online reports.
Chow Tai Fook has also reported that its earnings surged 79% to $5.67 billion in the same period (ended September 30). Gross profit rose almost 33% to $1.39 billion.
In its FY2022 Interim Results, the company said: “Although our business was surrounded by the uncertainties in the macro-environment, the group witnessed a promising revenue growth in 1HFY2022, boosted by resilient demand for gold jewellery and products and our rapid retail network expansion by using franchise model in Mainland China.”
