THE WHAT? Sasa International, a beauty retailer based in Hong Kong, experienced a 30.9% upswing in turnover for the quarter ended June 30, totalling HKD1.04 billion (US$133 million), despite a 25.3% drop in online sales.
THE DETAILS? By June 30, Sasa operated 223 retail stores. With the rebound of cross-border travel, sales in Hong Kong and Macau SARs rose by 53.5%. Conversely, sales in China and Southeast Asia fell by 32.8% and 8%, respectively.
THE WHY? The increase in turnover is linked to resumed cross-border travel from Mainland China, boosting retail sales. Despite the fall in China and Southeast Asia, Sasa is utilising digital platforms to re-engage Mainland tourists post-travel.