Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

Yesterday

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

De Beers starts year on sparkling note

30 january 2020

de_beers_logo.pngDe Beers has accrued $545 million from the first sales cycle of 2020 compared to $500 million, a year earlier or $426 mn the previous month.
"Demand for rough diamonds increased during the first Sight of 2020 following the end of year selling season and subsequent inventory restocking," said De Beers chief executive Bruce Cleaver.
De Beers recently told Rough & Polished in an interview to be published soon that the diamond industry has taken actions which included reducing rough diamond production in response to the lower demand, adjusting rough diamond prices, offering the customers increased flexibility to defer their rough diamond purchases. 
Poor sales in the final two weeks leading up to Christmas in 2018 resulted in a lower appetite from retailers to restock at the start of 2019. 
This led to the midstream being oversupplied with inventory and rough diamond demand subsequently reduced significantly. 
These challenges were worsened by liquidity tightness in the midstream, as well as downstream impacts including the evolution to a greater share of online sales, some brick and mortar retail outlets closing and more retailers seeking to undertake memo business.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished