JNA Awards 2020 - Jewellery Industry Best Practices

78 JNA AWARDS • 2020 Luk Fook Holdings (International) Limited Category: Outstanding Enterprise of the Year – APAC Country / Region: Hong Kong Luk Fook Holdings (International) Limited (Lukfook) continues to sharpen its edge in the face of seemingly insurmountable obstacles, such as the growing tensions between the United States and Mainland China, rising gold prices, public incidents in Hong Kong and the COVID-19 outbreak. “We embrace change and strive to strengthen our competitive advantages at the same time,” shares Wong Wai Sheung, Chairman and CEO of Lukfook Group. By employing such a mindset, the renowned jewellery brand was able to achieve net shop additions of 287 stores in FY2019/20. The company sped up its expansion activities in Mainland China, resulting in the inauguration of over 380 shops. As of March 2020, the group has 2,117 points of sale worldwide. Lukfook invested heavily on e-commerce and cooperated with 16 China-focused online sales platforms. It hosted over 500 live streaming sessions on Tmall, WeChat and other social networking sites to encourage customers to place their orders online – and recoup some of the losses brought about by the lockdowns. In China alone, this resulted in a 16.1 percent increase in e-commerce revenues from the first half of FY2019 to the first half of FY2020. Last but definitely not the least, the company synergised its online and offline activities for maximum results. “Through online-to-offline communications, we were able to promote hot items to our customers and drive revenues to both channels,” says Wong. More than profitability As an outstanding enterprise, Lukfook believes that achieving booming sales figures and increasing brand awareness should go hand-in-hand. This is why it 1 2