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Chow Tai Fook soars

Chinese jeweller Chow Tai Fook saw sales during Lunar New Year grow 28 per cent in Macau and Hong Kong.

Same store sales in Macau and Hong Kong rose 11 per cent from January 17 to February 4.

Meanwhile, same store sales of gold products in Macau, Hong Kong and including mainland China rose 19 per cent and gem jewellery by 13 per cent.

The results came at a time most luxury retailers in mainland China had experienced slackened sales during the period due to the Chinese government’s gift giving crackdown.

China’s retail sales grew 13.3 per cent from January 31 to February 6, the slowest pace of growth in about a decade.

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