US Holiday jewelry sales expected to skyrocket

According to Mastercard SpendingPulse, US jewelers can expect revenue from jewelry sales in the US between November 1 and December 24 will grow 59% compared to the same period last year.

17 september 2021

Australia becomes world’s biggest producer of gold for first time

Australia has become the world’s biggest producer of gold for the first time, having played second fiddle to China for the last decade. Australia unearthed 157 tons of gold in the first half of the year, pipping China by four tonnes.

17 september 2021

Nigerian minister mulls death penalty for gold smuggling – report

Nigeria’s deputy minister in charge of mines and steel development has called for the death penalty for gold smuggling in the West African country.

17 september 2021

Gemfields back to black

Gemfields is expected to register a net profit after tax of $23.8-million in the first half of the year compared with the net loss after tax of $56.7-million, a year earlier. Earnings per share are expected to be 2 US cents from a loss per share of 4...

17 september 2021

Debmarine Namibia's new diamond recovery vessel to arrive in SA next week

Debmarine Namibia’s new N$7 billion diamond recovery vessel, Additional Mining Vessel #3 (AMV3), is expected to arrive in Cape Town, South Africa next week ahead of commissioning early next year.

17 september 2021

Luxury M&A activity could pick up post-crisis

15 may 2020

Image credit:  Gerd Altmann (Pixabay)

( - Stocks of luxury fashion makers aren't perceived by the markets as a totally safe investment anymore in the time of the Covid-19 crisis. With roughly 40 per cent of the global population under lockdown in a bid to curb the spread of the virus, stores need to be closed and consumers have to stay at home. Investors have been reassured by the $2 trillion that the US has put on the table to rescue the economy, but that will probably not address the status of luxury stocks. “Coronavirus hit the luxury industry hard, with stock market valuations of luxury groups shedding a third of their value — or more — since the middle of January,” says Pierre Mallevays, founder and managing partner at financial advisory firm Savigny Partners. “Markets have since recovered somewhat, but we are still down some 20 to 25 per cent for the stronger groups and more for others.” Giants are best positioned to ride out a storm that could destroy the valuation of weaker companies, leaving them ripe for takeover by the survivors. The luxury industry has been consolidating for some time, giving conglomerates with a wide portfolio of brands an edge when it comes to supply chain, real estate, e-commerce, marketing and advertising spend. LVMH and Kering have swallowed up many competitors in recent years and they might be well positioned to accelerate acquisitions given market conditions.