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Bonjour Holdings Limited & Greek Mythology
Announce pilot retail program for Macau casino
Bonjour will be the first Hong Kong listed retailer to inaugurate a pilot retail program jointly with a casino in Macau. The program, slated for launch by early September 2005, will lead the way in developing a new integrated entertainment and retail concept. Bonjour plans to open a 24-hour shop-in-shop at Greek Mythology which records an average daily visitor traffic of more than 30,000.
Bonjour made its first advance into the enclave when it opened the company's first cosmetic and beauty centre in Macau respectively in 2003 and 2004. Amidst growing popularity of the Bonjour brand among Macau residents and Mainland tourists, the company has drawn up the plan to open the first cosmetic outlet at a casino.
Mr Wilson Ip, Chairman of Bonjour Holdings noted: "We are delighted to collaborate with Greek Mythology in developing a novel retail concept that both rides on and adds a further boost to Macau's gaming industry boom. The new shop-in-shop will carry an array of name-brand merchandise and Bonjour exclusive cosmetic and skincare products. We look forward to a synergistic collaboration with Greek Mythology and are confident of witnessing increased traffic to the casino after the retail program commences."
In line with the casino's opening hours, Bonjour will operate the company's first 24-hour outlet exclusively at the casino under a profit sharing scheme with Greek Mythology.
"Macau statistics show that Mainland tourists form the largest group of visitors to Macau. On the back of a favorable economic environment, our retail and beauty business in Macau has recorded double-digit growth since commencement of operation. The opening of Disneyland is expected to fuel the further growth of retail businesses in Hong Kong and Macau. We look forward to profiting from the tremendous market potential through the rollout of our joint entertainment and retail project with Greek Mythology," added Mr Ip.
A recent Macau government survey reports that visitors spent an average of 1,334 patacas (HK$1,295) in the enclave in the second quarter of 2005, down 10% quarter on quarter. This is compared with a 24.9% rise in government gambling tax collections in the first half of 2005, which outpaced the 15.4% growth in visitor numbers.
Mr Michael Chan, Chairman of A-Max Holdings Limited (HKEx: 959) and Vice Chairman of Greek Mythology said: "These figures imply that the action in Macau remains at the casinos. Considering 52% of the visitors made only short day trips to Macau, the casinos themselves are in fact the best venue to capture more visitor spending. This has led us to the idea of incorporating a shopping component in the casino. We look forward to tapping into Macau's robust retail potential and benefiting from the earnings to be generated by the new retail venture with Bonjour."
It is expected that overall Mainland visitor spending in Macau would increase after Beijing revalued the RMB and raised the limit of cash that travelers can bring out of the Mainland.
Mr Chan continued: "Our joint effort with Bonjour is a natural progression of our mission of integrating entertainment and leisure with gaming at Greek Mythology. With the addition of the shopping element, we are able to develop further towards our goal of becoming a one-stop entertainment centre as a means to extend our visitors' length of stay at our casino and to expand their portfolio." When the casino opened doors last year, it pioneered the provision of free performances and childcare services for family visitors.
About Bonjour Holdings (HKEx: 653) About Greek Mythology Press Enquiry:
August 30, 2005, Hong Kong - Hong Kong's leading cosmetic and beauty chain Bonjour Holdings Limited ("Bonjour", HKEx: 653) and Macau gaming group Greek Mythology Entertainment Group ("Greek Mythology") today signed a memorandum of understanding ("MOU") for the joint development of Macau's first collaborative retail operation for a casino.
Bonjour Holdings Limited is a pioneer in the local cosmetic retail and wholesale, and slimming and beauty industry. It serves both local and Mainland tourist customers through the operation of a network of 31 shops in Hong Kong and Macau. With a merchandise list of more than 20,000 items, Bonjour offers a full range of skincare, perfume, cosmetic, healthcare, haircare and personal care products. The group also operates 8 beauty and healthcare centres (including foot massage centres) in Mongkok, Tsimshatsui, Causeway and Macau, with a view to providing one-stop beauty and slimming services for its customers. Bonjour Holdings was listed on the mainboard of the Stock Exchange of Hong Kong in July 2003.
Greek Mythology Entertainment Group, the owner-operator of the Greek Mythology Casino in Macau, is a leading gaming and entertainment group 19.99% held by A-Max Holdings Limited (HKEx: 959). Other group members include Hong Kong North West Express Limited which holds a government license to operate the first cross-boundary ferry service in New Territories, Hong Kong.
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