Our main role is to inspire consumers to consider diamonds - Jean-Marc Lieberherr

With over 25 years of experience in a variety of leadership positions across many geographies, functions and businesses, Jean-Marc Lieberherr has more than 10 years’ experience as a diamond industry leader, which includes as a Board member of the World...

Today

Training in diamond valuation is key for artisanal miners

Ian Rowe, the Executive Director of the Diamond Development Initiative (DDI) was appointed in September 2019, having joined DDI as Deputy Executive Director a year earlier. Ian managed field operations in Sierra Leone within this role and led...

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Kangalassi 2.0: Raising the living standards, creating new jobs

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25 november 2019

We live in a new dimension of environmental responsibility carried by business

In mid-October, Moscow hosted the VIII Ecological Forum attended by representatives from the State, large industrial companies, scientific and public organizations. The forum delegates discussed the issues related to finding a balance between the socio-economic...

18 november 2019

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

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