Chow Tai Fook Jewellery Group (HK:1929) has released an update.
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Chow Tai Fook Jewellery Group reported a significant decline in retail sales value for the second quarter of 2024, with Mainland China and Hong Kong & Macau markets experiencing decreases of 19.4% and 31.0% respectively. Despite the challenging macro-economic conditions, the average selling price of gold and gem-set jewellery showed resilience, and the company unveiled a new concept store in Hong Kong as part of its brand transformation efforts. The store aims to enhance customer experience by blending contemporary Chinese design with a gallery-like aesthetic.
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