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

Luk Fook Holdings profit dips 42% in FY 2019-21

06 july 2020
luk_fook_logo.pngLuk Fook Holdings (International) Ltd has announced that the overall profit dipped of 42 per cent during the year ending March 31, 2020.
According to the company, revenues during the year fell 29.2 per cent due to difficulties arising from the continuing impact of the US-China trade war, social incidents in Hong Kong and the Covid-19 pandemic, with Hong Kong and Macau suffering from a  decline in tourist arrivals as well as dwindling consumer sentiment. 
Luk Fook’s revenues from Hong Kong, Macau and overseas markets decreased by 36.4 per cent while those in China sank 17.4 per cent. Same-store sales in Hong Kong and Macau recorded an 80 per cent drop from April to May 2020, while same-store sales in China registered a narrower decline as shops resumed businesses.
However, from beginning of June retail sentiment in Hong Kong and Macau has gradually recovered. The decline in same-store sales in the first three weeks of June narrowed to around 60 per cent, while overall shops in China continued to show improvements. The group revealed it will close five stores in Hong Kong in the coming year as it plans to open two new shops in Macau.

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