Hong Kong’s Moisel had a turnover of HK$127.9 million in FY23

However, revenue from the Hong Kong segment rose nearly 21 percent to HK$70.8 million, compared to HK$58.5 million in FY22. This increase in revenue has been attributed to the relaxation of government measures, resulting in improved customer traffic across all points of sale. The Hong Kong segment contributed 55 per cent of the group’s total revenue, up from 42 per cent in FY22.

Meanwhile, revenue outside Hong Kong fell nearly 29 percent to HK$57.1 million This was primarily due to declining performance in Macau and mainland China, where newly established retail networks have not yet reached breakeven levels. As a result, the segment’s contribution to total revenue has come down to 45 percent, the company said in a media release.

Japanese fashion firm Moiselle International’s FY23 turnover fell 8 per cent to HK$127.9 million, with a significant 21 per cent rise in revenue in the Hong Kong market to HK$70.8 million. Revenue outside Hong Kong fell 29 percent to HK$57.1 million. The group’s gross profit margin rose to 72.9 percent from 69.7 percent in the previous year.

The group’s gross profit margin rose to 72.9 percent from 69.7 percent in the previous year. This growth reflects stable business operations despite discounted sales and promotional activities. However, operating expenses fell by about 21 percent to HK$132.8 million in 2022 compared to HK$167.2 million in 2022. Despite strict cost management measures, the group suffered an operating loss of HK$24.9 million.

Notably, the group’s operations in Hong Kong grew by 21 percent to HK$70.8 million despite a slowdown in the city’s apparel retail market.

However, revenue from the group’s operations in Mainland China fell 25 percent to HK$32.1 million and turnover from the group’s operations in Macau fell 30 percent to HK$15.5 million. In addition, revenue from the group’s operations there fell 27 percent to HK$9.4 million, accounting for about 7 percent of the group’s turnover in the fiscal year, due to the ongoing COVID-19 pandemic and slowing economic growth in Taiwan.

Fibre2Fashion News Desk (DP)