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

Hong Kong’s revenue from jewellery sales dips 38% in August

01 october 2020
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Image credit: PhotoMIX-Company


As COVID-19 cases continued to increase in Hong Kong, sales of jewellery and other luxury items dipped in August. Revenue from jewellery, watches, clocks and other valuable gifts plunged 38% y-o-y to $317.5 mn for the month, according to Hong Kong’s Census and Statistics Department.
Sales in all retail categories slipped 13% to $3.3 bn during August.
Retail sales remained weak in August amid the third wave of the epidemic. Revenue from jewellery, watches, clocks and other valuable gifts slumped 62% to $2.45 bn for the January to August period of the year.
Sales in all retail categories declined 30% to $27.47 bn for the January to August period 2020.
According to analysts, this situation is expected to persist shortly as economic conditions remain under pressure. Also, as inbound tourism is unlikely to show any swift recovery in the near term, the retail trade will remain to be difficult.
The two-week quarantine imposed by the Hong Kong government on tourists arriving from mainland China also hindered retail sales as arrivals from China fell 99.9% in August.

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