Hong Kong investment giant, Bonjour Holdings, has seen a hit to its earnings in what the company claims to be a “complex” retail environment.

For the six months ending December 31, 2025, Bonjour lost HK$68.8 million (US$8.8 million). This figure marked an improvement from the same period in 2024, when it lost $134.4 million ($17.2 million).

With brands such as Suisse Reborn, Yumei, Dr Schafter, and Dr Bauer, Bonjour Holdings has more than 20,000 products in its portfolio.

The group’s retail, wholesale, lifestyle, healthcare and beauty division recorded a half-year turnover of HK$6.7 million. Technology sales added an extra HK$5.5 million.

Gross profit for both divisions came in at HK$2.8 million. Year-on-year revenue and gross profit fell by 50.4 per cent and 84.6 per cent, respectively.

In a statement accompanying its earnings report, Bonjour said: “The second half of 2025 presented a complex operating environment for Hong Kong’s retail sector. 

“While overall inflation remained mild at approximately 1.2 per cent during the period, consumer spending patterns reflected cautious sentiment amid ongoing economic uncertainties.”

The statement added that shifts in the property market have also affected its customers’ disposable income.

“Tourism continued its gradual recovery, with visitor arrivals increasing but spending patterns shifting toward experiential consumption rather than traditional luxury retail,” Bonjour added.

“Mainland Chinese tourists, while returning in greater numbers, demonstrated more selective purchasing behaviour compared to pre-pandemic patterns.”