GJEPC will focus on demand generation for diamonds and jewellery in the next two years

Mr. Vipul P Shah, Vice Chairman, GJEPC and also CEO & Managing Director of Asian Star Co. Ltd. has a rich experience in the diamond industry. His business acumen and professional conduct have contributed significantly in transforming a diamond manufacturing...

13 july 2020

The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

06 july 2020

Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Hong Kong’s jewellery and luxury product sales dipped 41% in September

05 november 2019

Hong Kong’s retail sales of jewellery, watches, clocks and other valuable gifts dropped 41% y-o-y to $463.6 mln during September, against 47% drop in August. Sales across all retail categories slipped 18% to $3.81 bln.
This is attributed to the pro-democracy demonstrations that have escalated in recent months, negatively hitting business at luxury stores. While the number of inbound tourists has declined drastically, local spending has dropped too.
According to statistics released by the Hong Kong Tourism Board, the number of tourists visiting Hong Kong was down 34% to 3.1 million in September, of which 2.4 million came from mainland China, a decline of 35% in September last year. In the first nine months of the year, retail sales of jewellery, watches, clocks and other valuable gifts declined to $6.85 bln. 
According to reports, it is expected that the weakness in the market will remain as long as the present conditions continue.

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