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...

Yesterday

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

Chow Tai Fook Jewellery’s quarterly retail sales value drops by 20.2%

20 july 2020
Chow Tai Fook Jewellery (CTF) said its retail sales value during the quarter ended June shrank by 20.2 percent from a year ago, with that of Hong Kong, Macau and other markets, which accounted for 11.4 percent of the total, plunging 69 percent year-on-year.
CTF said that the Retail sales value from the mainland China market took up 88.6 percent of the total figure, and went up by only 0.1 percent from a year ago.
The same-store sales decline in the mainland narrowed to 11.2 percent year-on-year last month as business resumed, but Hong Kong and Macau recorded a SSS decline of 72.5 percent and 93.2 percent, respectively.
CTF operated a total of 3,896 stores as of the end of June, with a net addition of 49 stores in the mainland and a net closure of three stores in Hong Kong during the quarter.

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