“Lab-Grown Diamonds is probably the biggest scam this industry has ever seen,”: Leibish Polnauer, Founder-President, Leibish & Co.

An interesting story from the Leibish & Co takes you way back to the year 1979 when young Leibish Polnauer, then a diamond polisher, was travelling to London, having just found out that the factory at which he worked had been shut down. He found an advertisement...

24 june 2019

Botswana mining industry players speak on speculative exploration licences

Speculative mineral exploration licences was a recurring theme from presentations made by three players in Botswana mining industry at a conference convened in Gaborone. The country has issued thousands of exploration licences, across the mining industry...

17 june 2019

Design is the key to all markets

Besides being an astute businessman, Mumbai-born Laksh Pahuja is a designer par excellence known globally for his awe-inspiring unusual jewellery pieces. Trained at the Gemological Institute of India and Harrow College of Art England, Laksh combines...

10 june 2019

Mutual mass destruction will not serve anybody’s purposes

The recent moves by the U.S. Federal Trade Commission (FTC), including its letters urging some companies to abide to the revised edition of FTC Jewelry Guides and the explanations from FTC attorney Robert Frisby posted on the FTC website were...

03 june 2019

Pavel Sokolov: Every stone has its beauty

THE ‘GEMSTONES BY SOKOLOV’ brand has been popular for over 25 years. The aim of this company is to supply any kind of gem studs to the Russian market including the unique ones except diamonds of any cut. The product range by the SOKOLOV Company is very...

27 may 2019

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