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Bonjour narrows loss as border closure continues to throttle sales

Hong Kong-listed cosmetics retailer Bonjour has recorded a small increase in sales in the latest half-year – and a small reduction in its loss. 

The company says revenue reached HKD347.8 million (US$44.7 million) in the six months to June 30 and its loss improved from HKD140.1 million ($18 million) to HKD122.2 million ($15.7 million). 

Like rival SaSa International, Bonjour has traditionally been heavily reliant on Mainland visitors who have not been able to travel to Hong Kong since the Covid-19 pandemic broke out. And like SaSa, Bonjour has transformed its business from a traditional brick-and-mortar retail model into an omnichannel business. 

This year, Bonjour launched HKMall to serve Hong Kong merchants and overseas brands across 34 countries over 44 market platforms. The company describes the initiative as an ecosystem to assist Hong Kong SMEs to digitally transform their traditional business into new business models in addition to finding new ways to sell Bonjour’s own offer.  

The company has closed unprofitable stores – especially those with high rents in traditional tourism precincts, a process it says will continue through the rest of this year. Live-streaming channels have helped replace some sales through physical stores. 

Subsequent to the end of the reporting period, Bonjour has sold a portfolio of stores in Hong Kong, realising HKD115 million ($14.8 million) 

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