Hong-Kong jeweler 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 percent on a year-by-year comparison. Sales surged by 64 percent 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 jewelry increased by 101 percent in Hong Kong and Macau, and improved by 10 percent in mainland China.
Chow Tai Fook is the second largest jewelry retailer by market value in the world.
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