Growth in Macau and Hong Kong Sales, Decline in Mainland China for Forward Fashion Holdings

After a net loss of HKD 22.6 million in the six months ending June 30 of previous year, the Chinese luxury group saw it shrink to HKD 7.4 million on the strength of 1.9 percent rise in sales, translating to HKD 505.4 million (US$64.4 million).

During that time period, sales in Mainland China dropped 8.9 percent to HKD228.1 million. The last six months have been difficult for the team, according to a statement released by Forward Fashion.

Business expansion in Macau, Hong Kong, and Taiwan was credited by the Hong Kong company for boosting overall sales. Macau had a rise in sales of 8.1%, to HKD 225.6 million, while sales in Hong Kong + Taiwan climbed by 41.8 %, to HKD 51.7 m.

Fan Wing Ting (Patrick Fan), presently the chairman and executive director of Forward Fashion Holdings, launched the company in 2005. Among the approximately one hundred worldwide labels that the company retails and wholesales are Moschino, Marni, Sergio Rossi, and Stella McCartney. The bulk of the group’s 178 outlets in mainland China, Macau, Hong Kong, and Taiwan as of June 30 were dedicated to selling just one brand. The UM, UM Junior, UM.IXOX, IXOX, and WF Fashion multi-brand format shops are also run by the corporation.