The company’s retail sales went up 31.1% with Mainland China demonstrating the growth of 38.8%, while sales in Hong Kong & Macau of China and other markets dipped by 8.7% year-on-year. Same-store sales in Mainland China increased by 10.7% and in Hong Kong & Macau by 14.4%.
Chow Tai Fook said its revenue from gold jewelry and products in Mainland China surged by 76.8%, while the similar growth in Hong Kong & Macau of China and other markets reached 65.6%. The jeweler’s revenue driven by sales of gem‐set, platinum and k-gold jewelry in Mainland China was up by 18.5%, while in Hong Kong & Macau of China and other markets it rose by 26.6%.
Online sales in Mainland China soared by 74.1% in value and by 87.7% in volume year-on-year, the company’s statement said. Their contribution to Mainland China’s revenue was 10.4% in the reported period, of which 3.6% was contributed by smart retail applications.
Chow Tai Fook added a net of 432 stores in Mainland China during the third quarter, while in Hong Kong & Macau and other markets it opened 2 stores. As of 31 December 2021, the group had 5,646 stores in total.
Vladimir Malakhov, Rough&Polished
Exclusive
Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future
Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...
28 october 2024
Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki
The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...
14 october 2024
James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration
London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...
07 october 2024
Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products
Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...
30 september 2024
Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices
The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...
23 september 2024
