De Beers’ GemFair delivering ‘positive impacts’ to ASM sector in Sierra Leone – David Johnson

GemFair, a pilot project developed by De Beers to create a secure and transparent route to market ethically sourced artisanal and small-scale mined (ASM) diamonds, is already delivering “important positive impacts” in Sierra Leone. Group head...

11 november 2019

Belgian-quality diamond boiling in Dubai from TRIGEM

Born in New York, David Zabinsky is CEO & Co-Founder of TRIGEM, an independent diamond service provider in Dubai. Before TRIGEM, David was Manager at Ras Al Khaimah Economic Zone, where he was responsible for securing North and South American investment...

05 november 2019

Pavel Shelkov: "Our project is an attempt to fit Russia into the global trend and create a new private company in the diamond industry"

At the end of September, Moscow hosted the Second Annual Conference, "Gold and Diamond Mining Companies of Russia and Europe." The audience showed great interest to the presentation made by diamond geologist Pavel Shelkov of Almazy Zapolyarya...

28 october 2019

The team that turns sleeping stones into beautiful polished diamonds

Maxim Zemlyakov is the Director General of ADMS OOO, a company cutting and polishing natural and synthetic diamonds in Oryol. He has been the Director General of Oryol-ALROSA since 2007. Before heading it, he worked as a grinder, cutter, instructor...

21 october 2019

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

Titan’s jewellery division grows 13.3% in Q1 FY 2019-20

13 august 2019
news_15052018_titan.pngTitan Company Ltd’s financial results for Q1 of FY 2019-20 indicates growth by 14.5% in the period to $ 734.28 mln from $ 641.69 mn achieved in Q1 2018-19.  Profit before tax for the same period increased to $78.61 mn from $73.20 mn in the same quarter in FY 2018-2019.
The Jewellery division’s income for Q1 FY 2019-20 stood at $608.32 mn recording an income growth of 13.3%, as compared to $536.92 mn registered last year. The company however states that growth in the jewellery segment was adversely impacted by high gold prices, especially during the month of June 2019.
Bhaskar Bhat, Managing Director of the Company commented: "The macro-economic environment coupled with lower consumption, have impacted some of our businesses. The retail growth in jewellery was driven by encouraging performance in the studded as well as wedding jewellery segments. However, there has been a weak consumer sentiment prevailing across, especially in jewellery with additional factors like price volatility and customs duty increase. The Company is gearing up on all fronts across its portfolio of brands and businesses to stimulate demand in the coming quarter through innovative campaigns and new product launches.”

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