The diamond business is yet bright and has a good future in the coming days

Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...

19 august 2019

The talk around LGDs is all hype

As a teenager, Luca Luterbacher began to design and manufacture single pieces and individual items for wealthy private family friends from Switzerland and Lichtenstein. In 2017, he finally invested in his own luxury trademark "Luterbacher."...

12 august 2019

Correct adjustment of advertising is the major challenge

At the recent Amberforum held in the Baltic city of Svetlogorsk, Andrey Yanchevsky, Head of the trade representation of the LA VIVION jewelery company shared his opinion with the correspondent of Rough&Polished on the state and prospects of the jewellery...

05 august 2019

Small-scale diamond mining is the future in Botswana – Leon Daniels

Pangolin Diamonds, which is currently the most active diamond exploration company in Botswana, has called upon authorities in the southern African country to include diamonds into the minerals permit for small scale mining operations. Pangolin chief...

29 july 2019

“There has been a strict policy in Israel against LGDs; have been forbidden on IDE trading floor for years.”: Aviel Elia, Managing Director- IDI

Aviel Elia, an attorney by profession, has served as Legal Adviser and Company Secretary of IDI since 2013. As a key member of the Israel Diamond Institute (IDI) management team, he has been involved in developing company strategy and negotiating...

22 july 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