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

Chasing a dream…

Elina Chan, MD of Shenzhen Shi Qing Yu Zhubao Ltd completed her higher education from Xiamen University and Master’s degree from Hong Kong University. To achieve her dream to start a business, Elina gave up numerous job opportunities in Hong Kong and...

06 august 2018

Pangolin Diamonds using termites to find kimberlite indicators in Botswana

It is not a secret that the rate of kimberlite discovery in Botswana has dropped considerably and research has shown that termites can help diamond explorers have an understanding of the transport mechanism of kimberlite indicator minerals from the kimberlite...

30 july 2018

In another fifty years, we’ll have a different scale of valuation, and all those items of natural origin – including diamonds – will sharply increase in price

Within the framework of the Qatar-Russia 2018 Year of Culture, the World Diamond Museum hosts an exhibition of the Qatar Museums at the State Historical Museum in Moscow – "Pearls: Treasures of the Seas and the Rivers," that opened on 11 July...

24 july 2018

Chow Tai Fook Group net profit up 33% for FY 2017-18

13 june 2018
news_13062018_ctf.jpgChow Tai Fook’s sales and profit rose during the fiscal year, amid a recovering Chinese market and increased tourism to Hong Kong. The Group’s sales grew 15% to $7.54 bn for the year that ended March 31. Retail sales in mainland China jumped 16% to $3.58 bn, while revenue from Hong Kong and Macau rose 7% to $2.63 bn. The company also operates a wholesale business, which accounted for 18% of overall revenue.
Net profit soared 33% to $535.7 mn for the year. According to the company, they have enjoyed a year of recovery, with resilient business performance seen in both mainland China and Hong Kong and Macau. Against the backdrop of the shifting retail landscape, the company remains confident in the prospects of the greater China jewelry market in fiscal year 2019 and beyond.
Same-store sales in mainland China increased 8% for the period, while those in Hong Kong and Macau rose 10%. Group sales of gem-set jewelry rose 5% to $1.49 bn for the year, while revenue from gold surged 15% to $3.59 bn. During the year, the retailer added a net 204 new outlets, primarily in mainland China, and had 2,585 points of sale as at March 31.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished