Luk Fook Holdings
(International) Limited
Benefited From The Consumption Of Tourists From
¡§Individual Visit Scheme¡¨
Hong Kong¡¦s
renowned gold and jewellery retailer and wholesaler, Luk Fook Holdings (International)
Limited (SEHK Code: 0590) (¡§Luk Fook¡¨/the ¡§Group¡¨) welcomed the consumption
of tourists from ¡§Individual Visit Scheme¡¨ in the period of Chinese New Year
(¡§CNY¡¨). Luk Fook stated that the Group was directly benefited from the soaring
retail market. The sales performance during CNY was satisfactory. From 18 January
to 25 January, the sales of Luk Fook have seen 18% increase when compared to
the same period last year. The Group estimated that approximately 50% to 60%
of the revenue during the period was contributed by tourists from ¡§Individual
Visit Scheme¡¨. In addition, Luk Fook was among the first batch of retailers
which accepted yuan-denominated credit and debit cards. From now on, tourists
could settle payments by the cards. The Group has processed 183 transactions
since the launch of yuan-denominated credit and debit cards till 28 January,
with average consumption amounting to approximately RMB 7,000. Among which,
the highest consumption amounted to RMB 36,000. The average consumption upon
the launch of the cards was higher than the current average of RMB 3,000. To
conclude, the turnover of the Group will be further enhanced by the launch
of yuan-denominated credit and debit cards.
