Related News
Jeweler plans mainland expansion
By Zhang Fengming |
September 18, 2009, Friday
|
Online Edition
Online Edition
HONG Kong jeweler Chow Sang Sang will focus on opening shops on the Chinese mainland, which is expected to overtake Hong Kong as its biggest profits contributor in three years, its group general manager said today.
"Our business focus is on the mainland with its huge growth potential," said Vincent Chow, group general manager of Chow Sang Sang Holdings International, in an interview. "The mainland will rise within years to become our biggest profits engine."
Chow Sang Sang's mainland sales have hit double-digit growth in the past five years and Chow said he expect the momentum to continue.
In the first half of this year, the Hong Kong-listed company's retail jewelry sales on the mainland rose 22 percent year on year to HK$896 million (US$115.5 million). It accounted for 35 percent of the company's total retail jewelry sales in the mainland, Hong Kong, Macau and Taiwan.
Hong Kong and Macau, with sales of HK$1.65 billion in the first half, contributed 64 percent while Taiwan took the remaining 1 percent, said its first-half reports.
"Our Hong Kong sales were buoyed by purchases from mainland tourists," said Chow. "With China's rising economy, the mainland demand will keep growing."
Gold is cheaper in Hong Kong and Macau than in the mainland.
"Our business focus is on the mainland with its huge growth potential," said Vincent Chow, group general manager of Chow Sang Sang Holdings International, in an interview. "The mainland will rise within years to become our biggest profits engine."
Chow Sang Sang's mainland sales have hit double-digit growth in the past five years and Chow said he expect the momentum to continue.
In the first half of this year, the Hong Kong-listed company's retail jewelry sales on the mainland rose 22 percent year on year to HK$896 million (US$115.5 million). It accounted for 35 percent of the company's total retail jewelry sales in the mainland, Hong Kong, Macau and Taiwan.
Hong Kong and Macau, with sales of HK$1.65 billion in the first half, contributed 64 percent while Taiwan took the remaining 1 percent, said its first-half reports.
"Our Hong Kong sales were buoyed by purchases from mainland tourists," said Chow. "With China's rising economy, the mainland demand will keep growing."
Gold is cheaper in Hong Kong and Macau than in the mainland.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
