Chow Tai Fook announced a 92.3% increase in profit from year-to-year and an increase of 48.5% in revenue over the same period in 2012 and a 72.9% increase in net profit, both record highs. Chow Tai Fook Diamonds and Jewelry will be opening 118 new retail stores during the first half of the 2014 fiscal year; bringing their total amount of store locations to 1,954. The company said it will look to increase its presence in the Tier III and lower tier cities throughout China. Lukfook recently opened 110 new outlets during the same time. Bringing the number of its store locations to a total of 1,188.