Indian gem and jewellery manufacturers have the skill and capabilities to cater to any market in the world

Besides spearheading the “White Paper” last year, Colin Shah, Vice Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) has been actively involved in the initiatives of the Council like MyKYCBank and many more… A first generation...

11 february 2019

The Indian gems and jewellery industry was progressing in the past and will certainly progress in the future

Dinesh Navadiya, the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India, is also the representative of the Gujarat G&J sector at various organisations as well as government authorities...

04 february 2019

The Russian Diamond Line: We do not believe that gifted persons would win through on their own

The Russian Diamond Line, a Moscow international jewellery contest of jewellery design, has been held for a decade already. At the end of the year, the results of the jubilee RDL-2018 contest were summed up, and on December 14, the prizewinners of the...

28 january 2019

New lending will have to be fully asset-backed with true provenance and transparency in the flow of goods and monies

After handling Gem & Jewellery (G&J) industry financing as a banker for many years, Erik A Jens sees an opportunity now that numerous banks are withdrawing from the sector. He is exploring opportunities to establishing a financing firm focusing...

21 january 2019

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

CTF’s last quarter growth hit by market uncertainties

17 january 2019
chow_tai_kook_logo.pngChow Tai Fook Jewellery (CTF) has posted a 6 per cent decline in same-store sales growth in Hong Kong and Macau in the last quarter of 2018 amid the uncertain macro environment, reports The Standard.
CTF’s same-store sales growth in the mainland dropped by 7 per cent, while growth in the mainland and Hong Kong and Macau were 6 per cent and 23 per cent respectively in the previous quarter. Besides, the same-store sales volume growth dipped by 11 per cent both in Hong Kong and Macau and in the mainland.
In Hong Kong and Macau, same-store sales of gem-set jewellery declined by 8 per cent, 2.5 per cent down from the previous quarter.
In the mainland market, the company’s same-store sales of gem-set jewellery dropped by 5 per cent, but its respective retail sales value increased by 3 per cent, with a 4.3 per cent quarter-by-quarter decline in average.
According to the report, the same-store sales of gold products in both markets were affected by a decline in volume growth as gold price strengthened. Hong Kong and Macau reported a 6 per cent decline and the mainland saw an 11 per cent drop.
However, CTF’s average selling price of gold products improved in the quarter due to an increase in average weight per gold product sold, with 5.7 per cent increase in Hong Kong and Macau and 10 per cent jump in the mainland.
The sales contribution from mainland tourists improved to 47 per cent as compared to 42 per cent for the same period last year.

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