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

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