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It's our responsibility to capture the imagination of future generations towards diamonds

As CEO of Beverly Hills-based Grand Metropolitan - a privately-held luxury goods holding company with a 130-brand portfolio - Vin Lee carries the burden rather lightly on his shoulders. Having migrated from Canada as a baby, it did not take long for...

11 december 2017

‘Non-diamond producing countries shouldn’t lead KP’

Non-diamond producing countries should not lead the Kimberley Process (KP) as was the case last year with the United Arab Emirates (UAE), according to the African Diamond Council and African Diamond Producers Association chairperson...

04 december 2017

Jewellers’ Guild of Russia sees its mission in creating highly developed national jewellery market

In recent years, the Jewellers’ Guild of Russia has noticeably stepped up its activities. Eduard Utkin, General Manager of this Association told Rough & Polished about what is happening in the country’s jewellery sector, the tasks facing the community...

27 november 2017

Any color diamond is a great investment

Bruno Scarselli belongs to the 3rd generation of the Scarselli family, which has for the last half-century been producing and selling some of the world’s highest quality yellow, blue and pink diamonds available on the market. Bruno heads the company...

20 november 2017

It’s crucial everybody feels confident that their suppliers use the System of Warranties - Stephane Fischler

The System of Warranties (SoW) in the diamond industry dates back to 2002, when the World Diamond Council (WDC) in team with the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association...

13 november 2017

Zim jewellery firm targets foreign markets as local economy struggles

12 january 2017
Aurex Holdings, a jewellery company in Zimbabwe, said it has been finding it difficult to grow its business on the local market due to a decline in disposable incomes and general liquidity in the country.
NewsDay quoted company general manager Paipa Munhumutema as saying that the development had forced jewellery maker to step up efforts to sign partnerships with international players.
Aurex said its market share had only grown slightly despite a 50 percent jump in their bridal jewellery business, forcing the company to shift focus to the international market.
Munhumutema said the jewellery manufacturer was in talks with a “known player” in the international diamond cutting industry to help them get a foothold into the international marketplace.
“This is an area that takes time to grow because we need to align with international partners to enter the space. For the last year, our focus was to actually get into technical partnerships with a company that has got a foothold on the international market. We are almost concluding talks with one technical partner, whom we hope will give us access in the international market,” he said.
“In terms of the various products, there is fashion jewellery and bridal jewellery. On the bridal jewellery side, I think we have got a bigger market share, there and are more than 50% in terms of being active on that market, but it is a market where we need to do more.”
Aurex, a subsidiary of the Reserve Bank of Zimbabwe, had eight retail stores across the country.
It bids for rough cut diamonds from auction floors at the Minerals Marketing Corporation of Zimbabwe and Murowa auction floors, which it then cuts and polishes for resale.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished

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