Very soon this year, Lao Feng Xiang Co Ltd will open three new stores in Hong Kong, as well as a new branch in Vancouver, Canada. The company also plans to expand the network in the UK and New Zealand, reports chinadaily.com.
In December 2014, Lao Feng Xiang opened a 400 square meter store on Fifth Avenue in New York City.
The company said that the planned revenue of $ 1.6 billion in international stores of this network is quite achievable within five years.
Last year, this large retail chain had 2,800 stores, revenue was $ 5.28 billion in 2013, the company said.
Basically, Lao Feng Xiang Company Limited is engaged in the manufacture and sale of jewelry in both the domestic and international markets.