Demand will pick up once the season starts

N Anantha Padmanaban took charge as the Chairman of the All India Gem & Jewellery Domestic Council (GJC) in January 2019. He has immense hopes and confidence in the Indian jewellery sector. His motto is to ‘ensure that after the day’s business...

14 october 2019

Prospects for discovering new diamond deposits in the Arkhangelsk Province are far from exhausted

ALMAZINTECH is engaged in technical auditing and comprehensive assessment of activities performed by exploration, diamond mining and gold mining businesses in Russia and other countries, as well as carries out research and development. It employs highly...

07 october 2019

Botswana Diamonds eyes expansion of Thorny River to include Marsfontein – Campbell

Botswana Diamonds, which has a 40% stake in Thorny River, through Vutomi, said there are plans to expand the project located in South Africa to include Marsfontein once a mining permit for the latter has been awarded. Company managing director James...

30 september 2019

Diamond knife and tender system: The tight-fisted paying twice?

LLC Kristalin is the only company in Russia that manufactures microsurgical diamond blades for domestic healthcare that meet international requirements and are used in ophthalmology, neurosurgery and plastic surgery. Mikhail Zhiltsov, the company’s Deputy...

23 september 2019

Didier Giard: Stiff competition among the diamantaires is one of the factors of the price war

On September 9, 2019, the French Association of Gemmology (l’Association Française de Gemmologie, AFG) held its regular Paris Gemmological Rendez-Vous. Its organizer, Didier Giar, the head of the AFG kindly agreed to answer questions from Rough&Polished...

16 september 2019

Lukfook looks to China for sustained growth

04 july 2019
news_11042018_lukfook.jpgLuk Fook Holdings (International) Ltd, the Hong Kong-based jewellery retailer is now banking on increased demand for fine jewellery in China to maintain growth.
While the company reported an 8.8 percent hike in revenues to approximately $ 2.04 bln for the year ending March 31, 2019, the operating profit was up 14.3 percent while profit attributable to equity holders rose 9 percent.
The company reports that its Net profit went up 9.7 percent despite diminishing market sentiment in the second half of the year, largely due to the US-China trade war.
Sales of gold and platinum products were up 0.9 percent, accounting for 51.8 percent of overall sales, while demand for gem-set jewellery products was 17 percent higher during the period in review.
According to the company, Hong Kong continues to play a key role in the group’s portfolio. The retail business in Hong Kong was fueled by Visitors from China with revenues rising 11.6 percent. As of March 31, the Group has a global network of 1,828 shops, including 197 new stores.

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