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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

IIDGR’s proprietary technology gives polished diamonds unique identity

The International Institute of Diamond Grading & Research (IIDGR), a unit of the global diamond giant, De Beers, grades natural stones and is also using its proprietary inscription technology to inscribe a unique identification on tables of each...

07 november 2017

In future, only those who offer innovative designs will survive

A science graduate from Madras University, Srinivasan's one-man venture with just 10 employees launched in 1984 has now grown into the present Emerald Group, in about 3 plus decades. The Group from Southern India is one of the largest jewellery manufacturing...

30 october 2017

Conditions are still very difficult - Ernie Blom

Ernie Blom, the President of the World Federation of Diamond Bourses (WFDB) for the third term, has served on a range of industry bodies as an executive as well as chairman for many years, including Chairman, Diamond Dealers Club of South Africa...

23 october 2017

Richemont announced its financial results for H1 2017

14 november 2017
Richemont announced its unaudited consolidated results for the six month period ended 30 September 2017.
According to the company, sales increased by 10% at actual exchange rates to € 5 605 million and by 12% at constant exchange rates. Excluding the prior year period’s inventory buy-backs, sales increased by 8% at constant exchange rates.
Growth was recorded in all segments, regions and distribution channel, including double digit growth in jewellery and watches and double digit increases in mainland China, Korea, Hong Kong and the United Kingdom.
Operating profit increased by 46% to € 1 166 million, with profit for the period up 80% to € 974 million. Cash flow from operations increased by 66% to € 1 108 million
“The positive sales and profit performance achieved by Richemont in the first half of this financial year highlights the generally improved macro environment. The Group also benefited from easier comparative figures and favourable movements in period-end exchange rates,” Johann Rupert, chairman Richemont SA, said. On his words, jewellery and the retail channel posted the strongest performances. Most markets were in positive territory, led by mainland China, Korea, the United Kingdom and notably a return to growth in Hong Kong.
“While we cannot predict the environment for the full year, it is clear that the full year results on a comparative basis will not see the exceptional level of growth reported in the period under review,” Rupert said.

Alex Shishlo, Editor of the Rough&Polished European Bureau in Brussels

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