Design is the key to all markets

Besides being an astute businessman, Mumbai-born Laksh Pahuja is a designer par excellence known globally for his awe-inspiring unusual jewellery pieces. Trained at the Gemological Institute of India and Harrow College of Art England, Laksh combines...

10 june 2019

Mutual mass destruction will not serve anybody’s purposes

The recent moves by the U.S. Federal Trade Commission (FTC), including its letters urging some companies to abide to the revised edition of FTC Jewelry Guides and the explanations from FTC attorney Robert Frisby posted on the FTC website were...

03 june 2019

Pavel Sokolov: Every stone has its beauty

THE ‘GEMSTONES BY SOKOLOV’ brand has been popular for over 25 years. The aim of this company is to supply any kind of gem studs to the Russian market including the unique ones except diamonds of any cut. The product range by the SOKOLOV Company is very...

27 may 2019

“We are building a new state-of-the-art tender facility,” says Ahmed Bin Sulayem, Executive Chairman, DMCC

Ahmed Bin Sulayem certainly needs no introduction being widely popular globally as one of the leaders of modern Dubai. As the Executive Chairman of DMCC, Ahmed Bin Sulayem has played and continues to play a key role in establishing and positioning DMCC...

20 may 2019

De Beers scaling up Tracr ahead of formal launch

De Beers tracked 100 high-value diamonds along the value chain during the pilot of Tracr™, its industry blockchain platform, for the first time in May last year. A De Beers spokesperson Bianca Ruakere told Rough & Polished in an exclusive interview that...

13 may 2019

Hong Kong’s sales of jewelry, watches, luxury goods up in October

06 december 2018
Sales of jewelry, watches, clocks and other valuable gifts in Hong Kong increased by 3.3% on the year in October to $878 mn, according to Hong Kong’s Census and Statistics Department.
The rise was higher than that recorded in September when Typhoon Mangkhut hit Hong Kong and the increase in jewelry sales was 2.2%.

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                                 Image credit: Chow Tai Fook

In October, the total number of tourists visiting Hong Kong grew 12% to 5.9 mn, according to the Hong Kong Tourism Board. Of those, 4.7 mn came from mainland China.
For the first 10 months of this year, the sales category increased by 18.2% to $9.10 bn.
Overall retail sales in Hong Kong rose by 6% on the year in October to $5.08 bn. For the January-October period, there was an increase of 10.6% to $51.3 bn.
Growth in retail sales in October was higher than in September due to an increase in visitor arrivals and continued income growth.
The higher rates of tourism, as well as the positive employment market and rise in income levels, should lead to continued growth in the sector. However, external uncertainties and a weaker asset market could potentially affect consumer sentiment.

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