2004-3-17
Luk Fook Holdings
(International) Limited
Grand Opening of The First Retail Outlet in the
PRC
Further Expand
Its
International Retail Business Network
Luk Fook Holdings (International)
Limited (¡§Luk Fook¡¨/¡§the Group¡¨) (SEHK Code:
590) announced the official opening of its first
retail outlet in the PRC on 7 March 2004.
Mr.
Wong Wai Sheung, Chairman of the Group said,
¡§The continuous growth of the PRC economy
boosted the demand for luxury products. It
is expected to create enormous business opportunity
for jewellery brands. To grasp the immense
business opportunities, Luk Fook has chosen
to open its first PRC retail outlet in the
Carrianna Friendship Square, one of the most
popular shopping center in Shenzhen.¡¨
Mr. Wong continued, ¡§The Carrianna Friendship
Square is only 10 minutes walk from the Shenzhen
Train Station and 30 minutes away from the
Shenzhen Airport. Such favorable location
is convenient to visitors from Hong Kong
and all around the country. The Group believes
that the new retail outlet, with a total
floor area of 325 sq. metres, would further
expand the customer source and would bring
about a satisfactory return to the Group.¡¨
Having
obtained the sole-proprietorship license
in July 2003, the Group plans to open more
retail stores in Shenzhen, Guangzhou, Beijing
and Shanghai in the near future. Together with
more than 80 jewellery retailers in the PRC
being authorized to operate under the brand
name of Luk Fook, and the superstructure of
the Group¡¦s large-scale jewellery processing
plant in Panyu was completed as planned. The
Group believes that its business development
in the PRC is expected to be further enhanced. Mr.
Wong concluded, ¡§2004 is a significant year
for Luk Fook. Within these months, the Group
has celebrated the opening of five retail outlets.
The new retail outlets in Jordan and Shatin
Station have commenced operation in September
and December 2003 respectively. In addition,
the outlets in Pacific Mall, Toronto and Aberdeen
Center, Vancouver have commenced operation
in December 2003 and January 2004 respectively.
With the gradual revival of the economy and
the customers¡¦ purchasing power picking up,
the Group is confident that the new retail
stores will have promising performance.¡¨
¡§We
are delighted that Luk Fook has successfully
penetrated into the overseas and PRC market.
Following the Canada market, the Group plans
to open retail outlets in New York, Las Vegas
and Southeast Asia in the future, aiming
to upgrade Luk Fook to become an international
brand. ¡§
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