Tse Sui Luen chief not worried by possible limit on mainland visitors
Possible restriction on mainland visitors 'won't halt' jeweller's expansion plan in city
Jewellery brand Tse Sui Luen's chief executive Annie Yau Tse said the company's growth would not be severely affected if Hong Kong restricted the number of mainland visitors to the city.
"It would certainly impact the retail industry," Tse said at the firm's results briefing yesterday.
"But as for TSL, with our network of 28 outlets in Hong Kong - it's not too big a network. Even if it does go through, we should still have room to open more stores in Hong Kong, though of course not that much room."
I think they will be restricting the ones who make a few trips in a single day
Tse was responding to reports the government was considering cutting the number of mainland visitors by 20 per cent.
Tse Sui Luen's net profit for the year ended February grew 9.4 per cent year on year to HK$1.77 billion, while turnover was up 13.9 per cent to HK$4.06 billion.
Chief financial officer Lawrence Lai said: "If they pass a restriction, I think they will be restricting the ones who make a few trips in a single day. I don't think that those kinds of people are coming into our stores with a big bag to load up on jewellery."
The company plans to open one or two new stores in Hong Kong and more than 20 on the mainland over this coming financial year.