Group revenue at Chow Tai Fook rose 5% for the full fiscal year amid improved consumer sentiment and inbound tourism in Hong Kong.
Sales rose to HKD 94.4 billion ($12.05 billion) for the 12 months that ended March 31, the company said last week. The company’s brand transformation and store-optimization strategy in China, which includes opening new locations in high-end shopping malls and focusing on branded products, also helped improve revenue. Profit for the period soared 52% to a record HKD 9.08 billion ($1.15 billion).
“In the mainland, despite softened demand in the final quarter amid gold-price volatility, same-store sales increased…supported by our continuing brand transformation,” the jeweler explained. “The solid tourism revival in Hong Kong and Macau…drove robust business recovery.”
Same-store sales – in branches open at least a year – grew 7% for fiscal 2026 in mainland China and 17% in Hong Kong and Macau. Group retail sales of gold jewelry increased 3%. Meanwhile, fixed-price jewelry was up 16%, drawing a boost from the company’s Hua Collection, featuring diamond-inlaid gold jewelry, which was one of the company’s top-selling lines during the year, it said.
As of March 31, Chow Tai Fook operated a total of 5,540 points of sale in China and 96 locations in Hong Kong and Macau.
Chow Tai Fook believes fiscal 2027 will be much stronger, with “significantly fewer” store closures, as demand stabilizes.
“The Chinese mainland is well-positioned for stronger business momentum in the next three to five years,” it stated.
Image: A Chow Tai Fook store in Shenzhen, China. (Shutterstock)