Consumers attracted to diamond jewelry more than ever

Ali Pastorini is the co-owner of Del Lima Jewelry and President of Mujeres Brillantes, an association which brings together more than 1,000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

Yesterday

WDC actively supports initiatives from mine to retail; and also strives for support for the artisanal and small-scale miners - Edward Asscher, President, World Diamond Council

A member of one of the diamond industry and Amsterdam’s most well-known families, Edward Asscher was elected President of the World Diamond Council in June 2020 for a two-year term. Asscher is serving a second time as WDC President, having led the organization...

14 september 2020

Diamonds are one of the few things that have held human fascination in every nook and cranny of the world across time

Dr Usha R. Balakrishnan, a preeminent historian of Indian jewellery based in Mumbai, is Chief Curator of the World Diamond Museum. Being the author and co-author of several volumes of Diamonds Across Time, a new book and an important venture launched...

11 september 2020

Botswana Diamonds to bulk sample KX36 kimberlite, sees commercial potential

Botswana Diamonds recently acquired Petra Diamonds’ exploration assets in Botswana for $300000. The assets that were owned by Petra through its wholly-owned Sekaka Diamonds Exploration, include the KX36 project, a 3.5 hectare kimberlite that was a new...

07 september 2020

Indian diamond industry looks for recovery options

Webinars being the order of the day due to COVID-19 crisis, the Gem & Jewellery Export Promotion Council (GJEPC) of India organized a virtual meeting under its UNCUT 2020 Webinar series on 17 August 2020, inviting all stakeholders to discuss...

31 august 2020

Titan’s jewellery division negatively affected in Q1 FY due to high gold prices

11 july 2019
news_15052018_titan.pngTitan Company Limited, a Tata Group company, has announced for the first time that it has been negatively affected by the current market conditions. While providing an update on its performance for Q1 FY 2019 -20, Titan’s statement said that the quarter witnessed a tough macro-economic environment with consumption being hit. 
Very high gold prices particularly in June also impacted growth in the jewellery industry. Against this background, the Company's growth particularly in the jewellery segment was lower than planned even though the gains in market share were sustained.
Titan’s Jewellery Division’s revenue grew by a slow 13% approximately during Q1, as sharp increase in gold prices dented consumer demand significantly in the month of June, according to the company. However, wedding jewellery and studded jewellery witnessed decent growth in the quarter, while sales on the auspicious occasion of ‘Akshaya Tritiya’ were reportedly quite good. Titan’s statement also added that the division added 12 Tanishq stores on both gross and net basis during the quarter, with the retail space addition being approximately 34,000sq. ft.

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