Luk Fook, Hong Kong jewellery retailer, which operates more than 3,000 stores in China and Hong Kong has announced its latest financial report, saying that the company's sales increased substantially amid the recovery of tourism in Asia.
While sales grew by 30 per cent y-o-y for the six months ending 30 September, profit increased by approximately 40 per cent during the same period.
According to the statement, Luk Fook identified the popularity of gold jewellery as crucial to these sales, as well as strong performance from higher-priced products, and attributed it to improvement in sentiment in the retail markets of Hong Kong and Macau, following the full reopening of borders.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished
