Chow Sang Sang Revenue Rises as Gold Jewelry Demand Holds Steady

Hong Kong-based jeweler Chow Sang Sang recorded a solid second fiscal quarter, with strong results in Hong Kong, Macau and China.

The group’s retail sales value was up 16% for the three months that ended June 30, the jeweler reported last week. Same-store sales – at branches open at least a year – improved 17% in China and 30% in Hong Kong and Macau.

Consumer sentiment in China remained cautious amid ongoing macroeconomic uncertainty. Meanwhile, the Hong Kong and Macau market saw strong growth during the quarter, thanks to steady local demand and higher foot traffic in tourist districts.

Demand for gold remained steady amid fluctuations in prices of the yellow metal, as the company benefited from its diversified portfolio, particularly its signature collections, Chow Sang Sand added.

During the six months from January to June, Chow Sang Sang closed a net 49 jewelry stores, putting its June 30 global total at 776. The group continued to refine its retail network, prioritizing store productivity, prime locations and the overall brand experience. It selectively opened and upgraded stores in key mainland shopping destinations, while maintaining a disciplined approach to store openings and closures.

Image: A Chow Sang Sang store in Hong Kong. (Shutterstock)