How Russkiye Samotsvety is coping with the current downturn

One of the key issues facing most Russian companies today is the need for an objective assessment of the new consumption decline due to the quarantine, as well as making forecasts for a way out of it. According to a RBC-Petersburg’s study made in June...

Today

Global rough diamond sales down 80-90% in value in Q2 –Zimnisky

The COVID-19 pandemic, which is spreading across the globe, having originated from China’s Wuhan has left diamond traders and buyers at sixes and sevens. Traditional diamond tenders were cancelled around March as governments imposed travel restrictions...

27 july 2020

Indian diamond and polishing industry requires forward integration - Dinesh Navadiya

Dinesh Navadiya is now the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India for the 3rd term. He is also the Director on the Board of the Gem & Jewellery Skill Council of India (GJSCI)...

20 july 2020

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

Hong Kong jewellery sales dip 69.7% in May

02 july 2020
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King Fook Jewellery Store, Hong Kong                                                                                 Image credit: King Fook

Jewellery sales in Hong Kong this last May fell 69.7 per cent y-o-y, according to the latest data from the Census and Statistics Department of Hong Kong.
Sales of jewellery, watches and clocks, and valuable gifts were down 76.7 per cent in April and 75.2 per cent in March as the city’s months-long battle against Covid-19 dampened consumer sentiment and decimated retail businesses. The government has since relaxed social distancing rules, with more and more consumers revisiting shopping districts.
From January to May, jewellery sales sank 67 per cent compared to a year ago, again representing the steepest decline among all retail categories. Overall sales in May were down 32.8 per cent and 34.8 per cent in the first five months of the year.

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