The Chow Tai Fook group reported an increase in revenue of 35% on a year-on-year basis for the second fiscal quarter ended Sept. 30. The revenue growth was ensured by the sale of gold jewelry, as well as by the expansion of the group's wholesale business. Revenues in mainland China showed an increase of 33%, and sales revenues in Hong Kong and Macau jumped 38% in the reporting quarter, Rapaport reports.
Sales in comparable stores of the group for the 2 nd quarter increased by 18% compared to the same period last year. At the same time, sales in China jumped by 32%, while sales in Hong Kong and Macau - by 26%
Chow Tai Fook reported that the increase in sales in comparable stores in the category of jewelry with precious stones was 4%, and the growth of gold jewelry was 33%. According to the group, the main increase was in luxury jewelry intended for the mass consumer, and it is expected that this segment will be the determining driver of further sales growth.