The grandson of billionaire tycoon Cheng Yu-tung, founder of business group Chow Tai Fook Enterprise, will use his company’s extensive retail network in mainland China to help boost domestic sales of Korean cosmetic p...
Hong Kong retail sales, which suffered their worst decline in 13 years last year, saw weak sentiment extending into January on slumping tourist arrivals, weak local consumption and a strong local currency.
Tour groups to Hong Kong could shrink by as much as two-thirds in the first half of this year, an industry executive said, dealing another blow to retailers and an economy facing pressure from slowing growth in China.
Chow Tai Fook, China's top jewellery retailer by market value, said on Friday it expects to close 5 to 6 shops in Hong Kong this fiscal year ending March, as the city grapples with a slowdown in tourism.
As Chinese consumers cut back on gold purchases for a second year in a row, nowhere is the slowdown being felt more than in the country's once-bustling jewellery manufacturing and retail hub of Shuibei.
Online luxury jeweller Plukka is going door-to-door to beat the worst retail downturn in more than a decade in Hong Kong, where commercial rents and plunging sales are corroding earnings of much larger rivals.
Chow Tai Fook Jewellery Group Ltd, China's largest jewellery retailer by market value, said its first-half net profit fell 42% on the back of sluggish spending in Hong Kong and Macau, and disappointing sales of gold p...