GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

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