Luk Fook Sees Modest Sales Gain

RAPAPORT… Luk Fook’s same-store sales increased 1% year on year in the
third quarter ending December 31, driven by a 10% rise in gem-set jewelry.

“The gem-set jewelry products in [the] Hong Kong and Macau market continued to benefit from the market improvement, as well as the successful introduction of more varieties of stylish and good-value-for-money products,” the jeweler said Wednesday. The data, which only accounts for Luk Fook’s self-operated stores, showed gold sales fell 3% during the period.

Gold sales at Luk Fook stores in Hong Kong and Macau declined 4%, while gem-set jewelry rose 11%. Mainland China saw a decrease in all categories, with gold
sales down 2% and gem-set jewelry dropping 7%.  

At the end of the period, Luk Fook had 224 self-operated stores, of which 157 were in mainland China, 47 in Hong Kong, 10 in Macau and 10 in other locations. It has 1,390 licensed shops.  

Image: Raysonho