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

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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

Signet registers drop in its sales during the holiday season

18 january 2019

signet_logo_news.pngSignet Jewelers Limited, the world's largest retailer of diamond jewelry, has announced its sales results for the holiday season, that ended January 5, 2019.
Total sales of the company dropped by 2,5% to $1,835.4 bn for the 9 week holiday period.
Same store sales went down by 1.3% compared to last year while the company’s online sales went up by 5,6% to $222.3 mn.
Virginia C. Drosos said that during the holidays the sales hadn’t lived up to the company’s expectations and the company intended to take measures to strengthen the company’s position in the market.
‘‘Our holiday season performance fell short of our expectations,’’ she said. ‘‘These holiday results reinforce the need to take even faster action to improve our financial and operational performance.’’
Signet noted that the drop in sales was due to the low demand for the company’s legacy collection, while Enchanted Disney Fine Jewelry®, Vera Wang Love® and Neil Lane performed well. 
The firm also reviewed the guidance for the same store sales for the fourth quarter down 1.6% - down 2.5% compared to the previous guidance regarding which the sales should have stayed flat or up 1%.
Signet noted that its revenue in the fourth quarter might go down to $2.14-$2.16 bn from the expected $2.17-2.22 bn.

Victoria Quiri, Correspondent of the European Bureau, Rough&Polished, Strasbourg