Dickson Concepts, the owner of luxury department store Harvey Nichols, managed to maintain a profit despite a 22.5 percent decline in sales thanks to strong performances in mainland China and Taiwan, Inside Retail reported, citing the company’s report for its financial year ended March 31 2020.
Dickson Concepts operates seven, 32 and 25 stores in Hong Kong, China and Taiwan respectively. In addition to Harvey Nichols outposts, it owns and distributes brands including Beauty Avenue, Roger Vivier, Chopard, Hogan and Tod’s.
Though the group’s Hong Kong sales fell 31 percent last year due to the pandemic, it saw sales surge 109 percent in mainland China and boosted profits by over 300 percent in Taiwan.
In spite of this, the group is taking a cautious approach. In a statement, it noted the severity of the current outbreak in Taiwan and a potential fifth wave in Hong Kong.