Forward Fashion Holdings Sees Sales Rise in Macau and Hong Kong, but Fall in Mainland China

The Chinese luxury group generated HKD 505.4 million (US$64.4 million) in the six months ended June 30, narrowing net loss to HKD 7.4 million from HKD 22.6 million last year on the back of 1.9 percent sales growth.

Sales in mainland China during the period fell by 8.9 percent to HKD228.1 million. ”It has been a challenging six months for the group,” Forward Fashion said in a statement.

The Hong Kong-based firm attributed sales growth in Macau, Hong Kong and Taiwan to bourgeoning economic recovery in those markets. Sales in Macau increased 8.1 percent to HKD 225.6 million, while sales in Hong Kong and Taiwan combined were up 41.8 percent to HKD 51.7 million.

The business was founded in 2005 by Fan Wing Ting (Patrick Fan), who is currently Forward Fashion Holdings’ chairman and executive director. The group retails and wholesale luxury fashion products from about 100 international brands, including Moschino, Marni, Sergio Rossi and Stella McCartney. As of June 30, the group operated 178 stores in mainland China, Macau, Hong Kong and Taiwan, a majority of which are mono-brand stores. The company also operates multi-brand format stores under the names UM, UM Junior, UM.IXOX, IXOX, and WF Fashion.

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