Color diamonds are more valuable and desirable and a better investment

In 1993, Eyal Cohen started his career as a diamond cutter, sitting by his father’s side as an apprentice. 4 years later, he was recruited by a jewelry firm, where he learned to appreciate natural colored diamonds. In 2003, Eyal opened his own company...

17 september 2018

Debate on the main issues affecting the diamond business is absolutely critical - Ernie Blom

Having taken part in the fruitful discussions with the world leaders at the Asian Summit held recently in Vladivostok, Ernie Blom, President, World Federation of Diamond Bourses (WFDB) now looks forward to taking the worthy inputs received at...

10 september 2018

Reflecting the nature of the industry, US jewellery market is significantly seasonal with great ‘ebb and flow’ in demand, opines Vin Lee

Vin Lee, CEO of Beverly Hills-based Grand Metropolitan, a privately-held luxury goods holding company had migrated from Canada as a child. And one can see that it did not take him long to ascend the US luxury world, establishing himself as a formidable...

27 august 2018

Vladimir Zboykov: New times have come for jewelers

How a personal collection of minerals was thrown on the scrap-heap, who is behind the destruction of gemstone consumption culture in Russia and why jewelers will soon have to choose between business and prison – all this was told to Rough & Polished...

20 august 2018

Changing preconceptions in the diamond and financial markets

Eli Avidar is a man on the move…literally. In April, the former Israeli diplomat stepped away from the CEO’s office at the Israel Diamond Exchange, a position he had held for more than two years, and from the Israel Diamond Institute, where he had been...

13 august 2018

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