GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

Luk Fook’s sales dip 10% during Q1 this fiscal

25 july 2019

luk_fook_logo.pngThe Hong Kong-based jewellery retailer Luk Fook Holdings (International) Ltd, which looked towards China for sustained growth, has registered a decline in same-store sales of 10% y-o-y during Q1 FY due to US-China trade war.
Luk Fook has 208 self-operated stores, 139 of which are in mainland China, 47 in Hong Kong, 11 in Macau and 11 in other locations, also has 1,653 licensed shops.
According to the company, while same-store gold sales plunged 20%, gem-set jewellery sales grew 6%, the overall same-store sales in mainland China slipped 7%, with revenue from gold products falling 4% and gem-set jewellery declining 7%, against 22% recorded last year during the same period. Luk Fook attributed this to the negative effect of US-China trade war on the market.

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