Chow Tai Fook Opens 624 New Outlets in Mainland China
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.”