WIN HANVERKY's same-store sales for high-end fashion direct-operated physical stores rose 2% last quarter, down 4% for the year

WIN HANVERKY (03322.HK) announced that for the fourth quarter ending last December, the same-store sales growth rate of its direct retail stores in the high-end fashion segment was approximately 2%, while the overall revenue growth rate was about 16%.

For the full year, the same-store sales of the group's high-end fashion retail business declined by approximately 4%, while the overall revenue growth rate was about 8%.

The group indicated that it will introduce a franchise store model for a rapidly growing brand in the high-end fashion retail business in the second half of 2024. The increase in overall revenue growth rate year-to-date was mainly driven by wholesale revenue from sales to the brand's franchisees.

As of the end of December last year, the group's high-end fashion retail business had a total of 75 direct retail stores in mainland China, Hong Kong, Macau, and other regions, compared to 102 stores in the same period of 2024, a decrease of 27 stores year-on-year