The indelicate balance of ethics against profit

I am slightly pained to write this blog, as over the years I've made many close friends and contacts in Switzerland, not to mention worked very closely with several Swiss-based companies as part of our recently launched DMCC Crypto Centre, including...

Today

Yakut diamonds, the symphony of permafrost

The Yakutia-based Kierge company, one of the Top 100 of the leading jewellery brands in Russia, opened its showroom in Moscow this autumn, which is gaining popularity in the capital of Russia. “Kierge” is the Yakut for a “finery, decoration” in a broad...

22 november 2021

Vladislav Zhdanov - “The use of diamonds in high technologies is the main and key target of the diamond synthesis technologies”

Vladislav Zhdanov, Professor at the Higher School of Economics, Advisor to Director General - Chairman of the Management Board of the Russian Railways company, and former Vice President of ALROSA (2015-2018). He is a physicist by background...

15 november 2021

Ali Pastorini: The white diamond is the equivalent of a white shirt for a woman

Ali Pastorini is the co-owner of Del Lima Jewelry and President of Mujeres Brillantes, an association that brings together more than 1,000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

08 november 2021

“As a purist and old school diamantaire, I don't believe in LGD,” says Vin Lee, CEO Grand Metropolitan

Vin Lee, the King of Luxury, doesn’t need any introduction. He is a self-made billionaire CEO of Grand Metropolitan. The Beverly Hills' family office Grand Metropolitan is $7 billion AUM privately-held luxury goods holding company with a 60-brand...

01 november 2021

Chow Tai Fook’s H1 profit up 60.4% to $460 mn

25 november 2021
In the first half of its fiscal year ending September 30, 2021, Chow Tai Fook’s (CTF) profit rose by 60.4 per cent to around $460 mn while revenues were up 79.1 per cent to around $5.67 bn.
The company’s high profit is attributed to good demand for gold jewellery, which remained strong during the period. Also, because of CTF’s HUÁ Collection, a favourite of youngsters; as well as a relatively soft international gold price contributed to the substantial revenue.
Improved consumer sentiments and favourable economic conditions from a more stable Covid-19 situation, benefitted business in China. Revenues from the mainland China too rose sharply by 81.7 per cent due to opening of new stores and steady demand.
Hong Kong, Macau and other markets meanwhile saw a 63 per cent year-on-year spike in revenues largely due to increased local consumer spending.
However, growth is expected to slow down in second H2, but CTF is counting on continued macroeconomic improvements, retail expansion strategies and digital initiatives to support the business.

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