Part 1: KPCSC gives insight into illegal diamond mining, trading in Africa

Although the diamond watchdog Kimberley Process (KP) prides itself for significantly reducing the flow of conflict goods since its establishment in 2003, the Kimberley Process Civil Society Coalition (KPCSC) alleged that illegal diamond...

Yesterday

The jewelry industry in Russia needs to be upgraded in a serious way

Dina Nasyrova is a vice-president of the International Jewelry Exhibition-Congress J-1 recently hosted by the Atrium of Gostiny Dvor in Moscow. As a partner and the Muse of the famous jeweler Ilgiz Fazulzyanov, she actively participated in the preparation...

11 october 2021

Smiling Rocks, a philanthropic business model, inspires companies to work for betterment of the world

Zulu Ghevriya, the CEO and Co-Founder of Smiling Rocks, Founder of Vedantti Jewellery and Managing Director of Prism Group has been in the diamond and jewellery industry for over 20 years. Zulu started his business, Prism Group, as a natural diamond...

04 october 2021

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...

27 september 2021

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

Chow Tai Fook's sales increases by 17.7% in Q3

13 january 2021
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Image credit: Google

Chow Tai Fook Group’s overall retail sales during the three months ending December 31, 2020, recorded up 17.5 per cent, with China recording a growth of 26.1 per cent from 11 per cent in the previous quarter. Hong Kong and Macau dipped 12.5 per cent from 51.6 per cent in Q2.
With COVID-19 cases in China decreasing, China’s same-store sales rose 12.2 per cent during the quarter while those in Hong Kong and Macau dropped at a slower pace.
According to Chow Tai Fook, the pandemic development and closure of major border crossings still weighed on the retail demand in Hong Kong and Macau during the quarter.
While sales of gem-set, platinum and k-gold jewellery were down 5.2 per cent in China, gold jewellery fared better, improving by 12.7 per cent. In Hong Kong and Macau, sales of gem-set, platinum and k-gold jewellery pieces were up 14 per cent while those of gold jewellery were down 50.7 per cent.
CTF’s pricing trend was favourable during Q3, with the average selling price of gem-set pieces in Hong Kong and Macau getting a boost from big-ticket transactions. 

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