Chow Tai Fook Jewellery Group Registers Substantial Growth in 4QFY2024 Amid Festive Surge

Chow Tai Fook Jewellery Group outlined its fourth-quarter financial year 2024 performance, showcasing a robust 12.4% increase in Retail Sales Value (RSV) buoyed by heightened festive demand and a strategic shift towards higher-value products. This growth spans across its operations in Mainland China, Hong Kong, Macau, and other international markets, reinforcing the Group's market resilience amidst challenging macroeconomic conditions.

In Mainland China, the group capitalized on the Lunar New Year festivities, launching dragon-themed jewellery that resonated well with consumer sentiments, contributing to a 12.4% RSV uplift. The franchise stores in the Mainland also reported an 18.3% growth, attributing to enhanced store productivity and a well-optimized store portfolio.

The recovery of inbound tourism coupled with holiday spending propelled RSV growth by 12.8% in Hong Kong, Macau, and other regions despite a high base from the previous year. The Group also noted an impressive demand for gold jewellery and products, with Same Store Sales (SSS) increasing notably, especially in Hong Kong and Macau.

However, the gem-set, platinum, and k-gold jewellery segments experienced a dip, reflecting more cyclical and discretionary spending patterns. Despite these challenges, the Group observed stabilizing trends in gem-set jewellery sales, suggesting a potential rebound.

In response to changing consumer behaviors, Chow Tai Fook continues to enhance its digital engagement strategies and remains agile in its product offerings, ensuring sustained growth in the evolving retail landscape.