“The industry is under some pressure, and as we all know, diamonds are formed under great pressure!”, says Dr Martin Leake

A veteran in the field of precious stones, Dr Martin Leake a doctorate geologist had worked for 22 years with BHP Billiton; and also set up a world-class marketing unit for Grib Diamonds in Antwerp. Later, as an Independent Consultant, Dr Martin Leake...

09 september 2019

Recovery of diamond industry within a year if end-consumer demand holds – Zimnisky

An independent diamond industry analyst and consultant said the natural diamond industry will be in a better position within a year time if end-consumer demand holds. Paul Zimnisky, CFA told Rough & Polished’s Mathew Nyaungwa in an exclusive interview...

02 september 2019

Working according to one’s weaknesses and strengths

Canon Jhaveri grew up watching his diamond-dealer father and uncle working with diamonds. The sparkles of the diamonds fascinated the young boy, who became more intrigued every time he visited his father’s office. After graduating in 2002, Canon Jhaveri...

26 august 2019

The diamond business is yet bright and has a good future in the coming days

Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...

19 august 2019

The talk around LGDs is all hype

As a teenager, Luca Luterbacher began to design and manufacture single pieces and individual items for wealthy private family friends from Switzerland and Lichtenstein. In 2017, he finally invested in his own luxury trademark "Luterbacher."...

12 august 2019

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