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

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Richemont announces trading update for third quarter

20 january 2020

richemont_logo_2.pngRichemont announced a trading update for the third quarter ended 31 December 2019. 
During the quarter under review, sales progressed by 4%, with growth in all regions except Japan. Sales in Europe grew by 9%, benefiting from favorable comparative numbers and strong sales in most markets. Sales in Asia Pacific increased by 2%, driven by strong double-digit sales growth in China and Korea, which more than offset a severe sales contraction in Hong Kong SAR, China and contrasted performances in other Asian markets. 
Sales in the Americas rose by 5%, led by good performances in the US that compensated for declines in other markets. The 3% sales increase in the Middle East and Africa reflected a good performance of retail (both online and offline) and favorable comparative numbers in a soft economic environment. 
Sales in Japan decreased by 7%, impacted by lower tourist spending given a comparatively stronger Japanese yen and the October 2019 value-added tax increase that benefited first-half sales.
The retail channel posted a 5% increase in sales, notwithstanding the negative impact of temporary store closures in Hong Kong SAR, China during most of the period under review. 
Sales were particularly noteworthy in China. The online retail channel saw a mid-single-digit sales progression, with strong demand in the US. Sales in the wholesale channel were broadly in line with the prior-year period, reflecting good performance of franchise stores, notably in Korea.
The Group’s net cash position at 31 December 2019 amounted to € 2.4 billion (2018: € 2.3 billion).

Alex Shishlo, Editor of the Rough & Polished European Bureau