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

TSL’s profit dips 94% in H1 due to trade row and unrest in Hong Kong

22 november 2019

Tse Sui Luen Jewellery (International) Ltd, the Hong Kong jeweller profit dropped 94 per cent in the first half of its fiscal year. The company has attributed the performance to the impact of the US-China trade war and the social unrest in Hong Kong.
As per the statement, the earnings for the six-month period ending September 30, 2019, were down to $ 0.20 mln from $3.10 mln year-on-year. Revenues fell 14 per cent to $0.21 bln from $0.24 bln a year ago.
Annie Tse, chairman and CEO of TSL also mentioned the low spending power of Chinese visitors. “Domestically, Hong Kong has been gripped by large-scale social unrest since late June. The weak local consumer sentiment due to city-wide protests has made it challenging for retailers to operate, which influenced our performance in the first half of the financial year,” she said.
Tse also mentioned that the situation is unlikely to improve owing to ongoing protests in Hong Kong as well as the lack of a trade consensus between China and the US.
To overcome difficulties, the company is committed to further strengthening its products and services and will implement cost-saving initiatives, including seeking reduced rental fees from landlords as well as cutting down operating expenses.
TSL has a total of 448 shops in more than 130 cities. The company will also expand its reach in the Greater Bay Area.

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