Hang Fung Gold jewelry chain speed increase (Figure)


Lam Sai Wing
"Wall Street Journal" reported that in March this year, the international gold rush among high 1,000 U.S. dollars an ounce, the Hong Kong Hang Fung Gold chairman Lam Sai Wing had his "Swiss, Golden Palace" siding and furniture removed down to sell, the split is 3 tons of gold. While the abolition of selling Mirage, Lam Sai Wing's Hengfeng industry has strong growth performance. March announced Hang Fung Gold announced the annual reports of 2007/2008 fiscal year, Hang Fung Gold's consolidated turnover increased by 9.0% to 3.408 billion Hong Kong dollars, the year operating profit of 5.24 billion Hong Kong dollars, up 118.4 percent over the previous year; Earnings per share 0.34 Hong Kong dollars, up 214.8 percent over the previous year. Hang Fung Gold's performance was primarily driven by rapid growth in the rapidly expanding chain of retail network, the 2007/2008 fiscal year, its increase in China's retail sales up 97.9%. Currently, Prudential's "Golden Supreme," Jewellery in the Mainland and Hong Kong were 186 and 15 retail outlets. The next group will be in the Bohai Rim, Yangtze River Delta and Pearl River Delta's high-end shopping malls to open-operated stores and expand through the franchise model of penetration in the third tier cities. As planned, the Hang Fung Gold's overall retail network will be in July covering more than 70 mainland cities, Hong Kong and Macau.

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In 2001, fierce competition in the jewelry retail industry in Hong Kong, Lam Sai Wing whim, decided to build a golden palace. This lasted for several years built Mirage, shared by 6 tons of gold. Among them, the gold bath, gold toilet have set a Guinness world record. Golden Temple is completed, the mainland tourists to visit Hong Kong soon became a popular tourist attraction. Now, that Lam Sai Wing, the gold is sold to the mainland were a good idea.
Mainland China is now second only to the United States and Japan, the world's third-largest jewelry market. From gold, platinum, to jade, diamonds are very strong consumption growth. The gold, China is now the world's second largest (after India), gold consuming countries, the current growth is still strong. In 2007, China's gold consumption of 363 tons, far more than 270 tons a year production. China Jewelry Association, said the Secretary-General Sun Fengmin, China jewelry industry is facing unprecedented development opportunities, 2010, jewelry sales to more than 200 billion yuan. In recent years, China's jewelry industry sales to an annual growth rate higher than 15% of the rate of development in the next few years, China's jewelry market will continue to maintain an annual growth of more than 15%.
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"Benefiting from the Mainland's rapid economic growth, especially in jewelry sales performance better than the other categories, the mainland's strong demand for high quality jewelry, the Group on the Mainland Gold Jewellery retail business in the last year turnover and operating profit were substantially increased . "Lam Sai Wing said. In May this year, Lyon Securities (CLSA) will be as Hang Fung Gold Elite franchise grantor. CLSA that, Hang Fung Gold industry franchisee 监督 and management, setting retail prices, product inventory and transaction information system, commodities procurement system, point of sale Gudingsheshi and Fujiashebei and marketing in areas such as a competitive advantage. These advantages led group franchise base compound annual growth rate in the past three years, quickly reached 53%, while the industry average growth of franchising generally 27%.
Even 27% of the average growth rate has been good. This year, due to weakness in the stock and property markets, although gold prices soaring, the average consumer to gold jewelry as the preservation of goods; the same time, many private hot money from the stock market, property market withdrawal of investment in the retail jewelry, making jewelry industry has become new investment hot spot. Since the 90s of last century, four major jewelry brand in Hong Kong (Luk Fook, Chow Tai Fook, Chow Sang Sang, TSL) and a few mainland jewelry brand achieved great development in the Mainland. Now, intensive in many jewelry processing enterprises in the Pearl River Delta are also moving into retail. By Sun Fengmin estimated that by 2010, China jewelry industry will have 60-70 family jewelry business enterprises to become China's Famous Brand. This signals that the jewelry retail chain will open up a huge space.

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