African diamond firms on COVID-19 response, recent developments

Rough & Polished recently contacted several diamond producers and exploration companies with operations in Africa to establish how their operations were affected by the Covid-19 pandemic and what they are doing to alleviate the impact. We also sought...

01 june 2020

“Get Diamonds” platform will soon be available in Russian, Hindi, Arabic and any other languages as per demand from any countries

A first-generation diamantaire Yoram Dvash, currently serving as the Acting President at World Federation of Diamond Bourses (WFDB) and the President of the Israel Diamond Exchange (IDE), launched his diamond manufacturing and trading...

25 may 2020

Sustainability is the only way forward - Rahul Jauhari

Rahul Jauhari, Sr Vice President of Global Sales & Marketing, Star Rays, has forged ahead professionally for more than 14 years garnering experience in Business Development, Luxury Lifestyle Consultancy, Market Analysis, Global Fashion / Luxury trend...

18 may 2020

Keeping global supply chains functioning vital – De Beers

Diamond giant, De Beers has said that it is essential to keep global supply chains functioning in view of the substantial impact of Covid-19 on the industry. Group spokesperson David Johnson told Rough & Polished’s Mathew Nyaungwa in an exclusive interview...

11 may 2020

Gabon courts foreign investors to grow fledgling diamond sector

Diamond production in Gabon, which has been a member of the Kimberley Diamond Certification Process since 2018, is currently dominated by artisanal miners. The artisanal miners are producing about 300 carats per month, according to Gabon’s director of...

05 may 2020

Lukfook’s income increases on improved market sentiment

12 december 2018
Hong Kong jeweller Lukfook Holdings (International) Ltd reported a 27.9 percent increase in net profit for the six months ended September 30, on the back of positive market sentiment and lower gold prices. Profit attributable to equity holders reached around US$85 mn says a report in jewellernews.net.

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Image credit: Lukfook


Wong Wai Sheung, chairman and chief executive of Lukfook Group commented, “Visitor arrivals in Hong Kong and Macau increased due to an improved overall economic environment. However, the market sentiment was adversely impacted by the recent US-China trade war as well as the depreciation of renminbi.The Group remains prudent about its business development in the second half of the financial year. Nevertheless, with the anticipated considerable growth of the middle-class population in China, the group remains optimistic about mid- to long-term business prospects.”
During the 6 months ended September 30, overall same store sales grew 17.7 percent, with sales of gold and platinum products rising 22.3 percent and 11.3 percent for gem-set jewellery items.
“In the coming year, the group will focus on product offering enrichment, market coverage enlargement in China and market-oriented strategies to penetrate into the mass market, covering the middle-class, wedding couples as well as kids,” added Wong.

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