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

Correct adjustment of advertising is the major challenge

At the recent Amberforum held in the Baltic city of Svetlogorsk, Andrey Yanchevsky, Head of the trade representation of the LA VIVION jewelery company shared his opinion with the correspondent of Rough&Polished on the state and prospects of the jewellery...

05 august 2019

Small-scale diamond mining is the future in Botswana – Leon Daniels

Pangolin Diamonds, which is currently the most active diamond exploration company in Botswana, has called upon authorities in the southern African country to include diamonds into the minerals permit for small scale mining operations. Pangolin chief...

29 july 2019

“There has been a strict policy in Israel against LGDs; have been forbidden on IDE trading floor for years.”: Aviel Elia, Managing Director- IDI

Aviel Elia, an attorney by profession, has served as Legal Adviser and Company Secretary of IDI since 2013. As a key member of the Israel Diamond Institute (IDI) management team, he has been involved in developing company strategy and negotiating...

22 july 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