The majority of women don’t care whether their diamonds are mined or lab grown - Alex Popov, CEO of Âme

Alex Popov, President of the Moscow Diamond Bourse and former Chairman of the World Diamond Mark Foundation (WDMF) launched a new jewelry brand under the name of Âme focused on design and using lab grown diamonds to produce jewelry meant to meet...

14 january 2019

At IDE, we encourage innovation throughout the bourse and have even opened a technological incubator to host start-ups - Yoram Dvash

A first generation diamantaire, Yoram Dvash founded ‘Y Dvash Diamonds Ltd’ in 1991 in Israel. While the company grew and made progress under his leadership, Dvash joined industry organizations such as the Israel Diamond Manufacturers Association (IsDMA)...

09 january 2019

Cooperation and collaboration are the development trend of today

Pavel Grankin runs the Slava Group of companies and holds the Slava trademark (‘Slava’ means ‘Glory’ in Russian). He has graduated from the Mozhaisky Military Space Academy. He did his military service at the Plesetsk Сosmodrome from 1987 to...

04 january 2019

De Beers speaks on Zim invitation to explore for diamonds again

De Beers’ exploration team landed in Zimbabwe in 1993 and left in 2006, however, they first prospected for diamonds in Marange in the late 1990s. Harare, under the leadership of the then president Robert Mugabe, alleged that De Beers looted diamonds...

24 december 2018

The Kimberley Process mulling over broader definition of "conflict diamonds"

The participants of the recent Kimberley Process Plenary Meeting hosted by the European Union in Brussels carried their work to completion on November 16, 2018 but were left with a home work on their hands to be done before the next convention under...

17 december 2018

Richemont announced trading results for the 3Q 2018

14 january 2019

news_14012019_richemont.jpgRichemont announced trading results for the three month period ended 31 December 2018 versus the prior year period.
The Group’s net cash position at 31 December 2018 amounted to € 2.3 billion (2017: € 5.1 billion) with a gross cash position at € 6.6 billion following the € 4.0 billion corporate bond issued in March 2018.
With the consolidation of YNAP and Watchfinder regrouped for the first time under the newly created Online Distributors business area, Group sales grew by 24%. 
Sales grew in all regions, with the exception of the Middle East and Europe. During the latter part of the quarter, sales in Europe were affected by social unrest in France which negatively impacted tourism and led to store closures for six consecutive Saturdays.
A 10% increase in sales in Asia Pacific reflected double digit sales growth in mainland China and good increases in other main markets. Sales growth in Hong Kong slowed, primarily due to the strength of the Hong Kong dollar versus the renminbi that resulted in lower tourist spending. In Japan, a 7% expansion in sales was driven by continued domestic and tourist spending as well as the impact of newly opened directly operated boutiques.
Sales in the Americas rose by 9%, benefitting from good performance by the Jewellery Maisons and the other business area unfavourable currency movements weighed on sales in the Middle East and Africa, which decreased by 13% over the period.  
The retail channel posted a 5% increase in sales, with growth slowing in December due to the above mentioned temporary store closures in France and a strong comparative base for high jewellery. The wholesale channel registered a 1% growth in sales, reflecting ongoing cautious watch inventory management and distribution optimisation initiatives.
The 8% sales progression at Cartier and Van Cleef & Arpels was driven by jewellery and watches. Specialist Watchmakers’ sales were in line with the prior year period, with lower wholesale sales offset by higher sales in the Specialist Watchmakers’ directly operated boutiques.

Alex Shishlo, Editor in Chief of the European Bureau, Rough&Polished, Brussels