African diamond firms on COVID-19 response, recent developments

Rough & Polished recently contacted several diamond producers and exploration companies with operations in Africa to establish how their operations were affected by the Covid-19 pandemic and what they are doing to alleviate the impact. We also sought...

01 june 2020

“Get Diamonds” platform will soon be available in Russian, Hindi, Arabic and any other languages as per demand from any countries

A first-generation diamantaire Yoram Dvash, currently serving as the Acting President at World Federation of Diamond Bourses (WFDB) and the President of the Israel Diamond Exchange (IDE), launched his diamond manufacturing and trading...

25 may 2020

Sustainability is the only way forward - Rahul Jauhari

Rahul Jauhari, Sr Vice President of Global Sales & Marketing, Star Rays, has forged ahead professionally for more than 14 years garnering experience in Business Development, Luxury Lifestyle Consultancy, Market Analysis, Global Fashion / Luxury trend...

18 may 2020

Keeping global supply chains functioning vital – De Beers

Diamond giant, De Beers has said that it is essential to keep global supply chains functioning in view of the substantial impact of Covid-19 on the industry. Group spokesperson David Johnson told Rough & Polished’s Mathew Nyaungwa in an exclusive interview...

11 may 2020

Gabon courts foreign investors to grow fledgling diamond sector

Diamond production in Gabon, which has been a member of the Kimberley Diamond Certification Process since 2018, is currently dominated by artisanal miners. The artisanal miners are producing about 300 carats per month, according to Gabon’s director of...

05 may 2020

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