ALROSA's net profit for the first quarter fell 87% y-o-y

ALROSA’s net profit for the 1st quarter of 2020 under IFRS amounted to 3 billion rubles, which is a 74% drop from 11.7 billion rubles compared to the previous quarter and fall of 87% compared to last year due to non-cash factors.

05 june 2020

Indian diamond manufacturers urged not to import rough diamonds in June

At present, about 30 per cent diamond manufacturing units in Surat have resumed operations, due to shortage of workers.

05 june 2020

Angola H1 diamond revenue falls

Angola’s diamond revenue has dropped in the first half of the year, according to the governor of the National Bank of Angola, José de Lima Massano.

05 june 2020

ALROSA’s Severalmaz cuts production

PJSC Seralmaz, part of the ALROSA Group, will reduce production at its Lomonosov Division in 2020 due to the closure of the Group’s key sales markets and a slump in demand for diamonds amid the coronavirus pandemic.

05 june 2020

Titan to record decreased profit for 1H due to COVID-19

Tata Group company Titan recently announced that the company’s operating cash flow was negative in the last two months due to virtually zero sales in the first six weeks of lockdown.

05 june 2020

How Luxury Brands Can Win During a Crisis

03 april 2020

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Image credit: Van Cleef & Arpels


(jingdaily.com) - With markets in turmoil and uncertainty at peak levels, CEOs of brands — both in and out of the luxury industry — are asking me: What now? Nearly all sectors have felt an impact. With several parts of China on lockdown and travel between the mainland and Hong Kong restricted, the world’s leading luxury market is hurting. We’ve seen empty stores throughout China and consumers deferring, reevaluating, or canceling their purchases. After hitting China, the crisis moved to Japan, Korea, Europe, and the US. With growing uncertainty and daily new restrictions bombarding consumers, many are deferring non-essential purchases and focusing on crisis preparation. Sales of hand sanitizers, masks, and toilet paper are booming, and people are willing to buy these items at almost any cost. In Italy, a crisis hotspot and the home of many legacy luxury brands, people are willing to trade their apartments for a protective mask.