Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

Today

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

Expansion boosts CTF’s sales & profit during fiscal year

11 june 2019
chow_tai_kook_logo.pngChow Tai Fook Group’s sales grew 13% to $8.5 bln for the year ending March 31, amid increased purchases of gold jewelry and an expansion of the company’s retail network in China. Retail sales in mainland China climbed 8% to $3.88 bln, while revenue from Hong Kong and Macau jumped 12% to $2.94 bln. Gold was the company’s strongest seller during the period. Group sales of gold surged 13% to $4.07 bln for the year, while revenue from gem-set jewelry rose 4.5% to $1.55 bln. 
Also, CTF added a net 549 new points of sale in mainland China totalling to 3,134 as at March 31.
The same-store sales in mainland China increased 3.4%, while those in Hong Kong and Macau rose 9%. China exhibited growth throughout the fiscal year, while Hong Kong and Macau noted a 19% increase in the first half, followed by a flat second half as economic uncertainty dampened consumer sentiment. Net profit leaped 11% to $597.4 mln for the year.

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