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Hong-Kong jeweller Chow Tai Fook has reported strong sales figures in the opening quarter amid the return of tourism to the region.
Retail sales increased by 29 per cent on a year-by-year comparison. Sales surged by 64 per cent in Hong Kong and Macau specifically, as the border with mainland China reopened in January following a relaxing of pandemic restrictions.
Chow Tai Fook also opened 95 new stores in mainland China.
“During the first quarter, the recovery in general mobility and retail activity had continued to positively impact our business in mainland China and Hong Kong and Macau,” the company said in a statement.
Same-store sales of gold jewellery increased by 101 per cent in Hong Kong and Macau, and improved by 10 per cent in mainland China.
Chow Tai Fook is the second largest jewellery retailer by market value in the world.
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