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PwC predicts that china's luxury goods market will leap to the top of the global ranking by 2030.
PwC predicts that by 2030, China will become the world's largest individual luxury goods market with a market size of $148 billion. Intergenerational wealth transfer, new customer development, the rise of experiential luxury goods, hainan's high growth potential, and the improvement of online and offline services will all drive this growth.
Emperor Watch & Jewellery Unit to Lease Hong Kong Shop for Five Years
Emperor Watch&J (00887.HK) plans to lease the underground shops at the Shangai Commercial Banks Building in Central, Hong Kong.
On September 24, Korg Hui announced that on September 24, 2024, Emperor Watch & J (00887.HK) publicly disclosed that its indirect wholly-owned subsidiary Emperor Watch & J (Hong Kong) Limited had entered into an intention letter with the landlord as a lessee regarding the property. The property is located at Shop A, Ground Floor, and entire Basement of 12 Queen's Road Central, Hong Kong, Shanghai Commercial Banks Building, for a lease term of five years, to be used for operating a retail store. The total rent for the entire lease term under the intention letter is approximately HK$91,200,000, excluding management fees, rates, land rent, and utilities.
EMPEROR WATCH&J: 2024 Interim Report
A difficult Q2 report card for luxury goods: zero revenue growth, price increases and promotions together, with Hermès "holding up the roof".
Bank of America Merrill Lynch stated that the second-quarter weighted average income of the luxury goods industry recorded zero growth, the lowest in fifteen quarters, and also showed trends such as brand polarization, negative growth in hard luxury income, and deteriorating demand in the USA.
Emperor watch&j (00887.HK) mid-term total revenue increased by 11.5% to 2.597 billion Hong Kong dollars.
Emperor Watch&J (00887.HK) announced its interim performance for 2024, despite the challenging business environment, the group's total revenue for the period increased by 11.5% to 2.597 billion Hong Kong dollars. The group's net income for the period remained roughly flat at 0.185 billion Hong Kong dollars (2023: 0.186 billion Hong Kong dollars). Basic earnings per share were 2.72 Hong Kong cents (2023: 2.74 Hong Kong cents). The board of directors declared an interim dividend of 0.65 Hong Kong cents per share (2023: 0.76 Hong Kong cents). The group's retail network covers Hong Kong, Macau, mainland China, Singapore, and Malaysia.
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hh488 : Wasn't it's results good? How come share price so low one? How did it compare with Oriental watch etc?