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Retail Asia29/06/2022

Hong Kong jeweler Luk Fook’s revenue and profit rose by around 30% to 40% for the full fiscal year that ended March 31, the company estimated. A low base of comparison with the previous year — which saw pandemic-related restrictions — is responsible for the increase during the period, Luk Fook said last week. In […]

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Retail Asia21/08/2020

Jeweler Luk Fook Holdings has warned shareholders of a “substantial decline” in both sales and profit for the June quarter. Revenue for the Hong Kong-headquartered company was down 60 percent year on year for the three months, with profit down by around 80 per cent. However, CEO Wai Sheung Wong said there are signs of […]

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Retail Asia23/07/2020

Luk Fook Holdings has reported a 71-per-cent plunge in first-quarter same-store sales due to the impact of Covid-19 on tourist numbers traveling to Hong Kong. However, the company said that entering June, as retail sentiment in Hong Kong and on the mainland gradually improved, the overall same-store sales decline of the company’s self-operated shops narrowed […]

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Retail Asia30/06/2020

Hong Kong-listed jeweler Luk Fook has reported early signs of a recovery in the Hong Kong market this month, despite the border with Mainland China effectively-remaining closed to visitors. In April and May, with tourist numbers to Hong Kong and Macau at a record low due to Covid-19 related travel restrictions, sales fell by about […]

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Retail Asia20/04/2020

Hong Kong-listed jeweler Luk Fook says its March-quarter same-store sales plunged 57 percent as the Covid-19 outbreak saw the mainland border closed and tourist numbers fall to almost zero. Sales of gem-set jewelry were down by 64 percent year on year, and of gold (by weight) by 58 percent. The sales decline was worst in […]

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Retail Asia23/03/2020

Hong Kong jeweler Luk Fook says its sales halved during the first two months of this year as the coronavirus outbreak caused an extensive lockdown of mainland Chinese cities and visitors to Hong Kong and Macau fell sharply. While most mainland stores have reopened this month, customer footfall of the shops operating in Mainland China, […]

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Retail Asia20/03/2020

Hong Kong jeweler Luk Fook says its sales halved during the first two months of this year as the coronavirus outbreak caused an extensive lockdown of mainland Chinese cities and visitors to Hong Kong and Macau fell sharply. While most mainland stores have reopened this month, customer footfall of the shops operating in Mainland China, […]

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Retail Asia20/01/2020

Hong Kong-headquartered Luk Fook group has followed its archrival Chow Tai Fook in revealing plans to shutter stores in the territory’s tourist areas – but it sees growth opportunities in Macau. “The group will reduce the number of shops in areas which are considerably impacted by the social incidents in Hong Kong, and search for […]

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Retail Asia06/12/2019

Hong Kong-listed jeweler Luk Fook sales slumped 19.8 percent in the September half as protests, the trade war, and the Renminbi’s value kept mainland tourists away, and the high gold price muted demand. The company reported sales of HK$6.3 billion (US$804.86 million) and profit attributable to shareholders of $496 million, down by 25.4 percent. Same-store […]

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Retail Asia30/10/2019

Jeweler Luk Fook Holdings has revealed its September-quarter Hong Kong sales plunged 39 percent, dragging group-wide sales down by 37 percent. Chairman and CEO Wai Sheung Wong said in a stock-exchange filing that the decline was the result of high gold price and a strong comparative quarter last year “together with a substantial decline in […]

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Retail Asia02/08/2019

The trade war between the US and China has been partially blamed for a 10 per cent fall in Luk Fook sales. In a quarterly sales update, the Hong Kong-listed jewellery retailer said a relatively higher base in the comparable period also contributed to the decline. First-quarter same-store Luk Fook sales were down 10 per […]

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Retail Asia22/07/2019

Luk Fook will add at least 150 stores in Mainland China this year as it looks to mitigate falling sales in Hong Kong. Releasing its results for the financial year to March 31, Luk Fook said profit attributable to shareholders rose 9 percent to HK$1.5 billion on sales up 8.8 percent to $15.9 billion. During […]

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Retail Asia07/05/2019

Luk Fook Canada has opened a new shop in CF Richmond Centre in Metro Vancouver. The new store is the first Oriental jewellery shop in the mall. “Adhering to the corporate vision of ‘Brand of Hong Kong, Sparkling the World’, the group has been actively expanding our retail network into the overseas market for new […]

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Retail Asia21/01/2019

Luk Fook sales in the third quarter fell 10 per cent on a same-store basis. “Recent market sentiment has been adversely impacted by the US-China trade war, the depreciation of Renminbi, and downward pressure in the stock and property markets,” said chairman Wai Sheung Wong ina stock exchange filing. Luk Fook says same-store sales of […]

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Retail Asia30/11/2018

Thanks to positive Hong Kong market sentiment and lower gold prices, Luk Fook Holdings has reported a 25.1 per cent boost in sales in the September half year. The company says sales totalled HK$7.859 billion (US$1 billion) compared with $6.283 billion in the same period last year. Profit attributable to shareholders soared 27.9 per cent […]

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Retail Asia23/10/2018

Luk Fook achieved same-store sales growth of 14 per cent in its latest quarter, thanks to lower gold prices, good market sentiment and a successful sales strategy. In a note to shareholders, chairman and CEO Wai Sheung Wong said same-store sales of gold products rose by 23 per cent and of gem-set jewellery by 5 […]

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Retail Asia06/08/2018

Hong Kong jewellery retailer Luk Fook has announced its entry into the Philippines. The first Luk Fook Philippines store is located at Solaire Resort and Casino of Manila Game Zone, established by the Philippines government as an entertainment and tourist hot spot. The area contains a shopping mall, luxury casinos, a theme park, international hotels, […]

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Retail Asia06/07/2018

Luk Fook Malaysia has opened its third shop, at the Genting Highlands Resort. The Hong Kong-based jewellery retailer expanded into Southeast Asia in 2010 and now operates 1660 locations through nine countries and regions, including greater China. The Genting Highlands shop will give the brand access to a well-established tourist market that frequents the high-altitude […]

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Retail Asia29/06/2018

Jeweller Luk Fook has reversed a three-year trend of declining revenue in its latest financial year, boosting sales by 13.8 per cent to HK$14.578 billion (US$1.857 billion). Releasing its results for the year to March 31, the company said the turnaround was the result of improved retail sentiment, especially in its largest market of Hong […]

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Retail Asia16/03/2018

Luk Fook Holdings (International) Limited is pleased to announce that the Group’s design pieces stood out from the crowd and won multiple accolades at the “Chuk Kam Jewellery Design Competition 2018”. The recognition includes the Group’s various jewellery designers with winning entries, namely “Pegasus” by Mr. Tse Ka Wing, “Follow the Heart” by Ms. Li […]

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