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...

Yesterday

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

'No Cause for Optimism' as Richemont 3Q Sales -7%

20 january 2009

Luxury retailer Richemont on Monday reported a 7 percent drop in group sales during the three months ending December 31, 2008, and offered a bleak outlook for future performance, RAPAPORT reported. “Demand for luxury goods, as in other sectors of the economy, has fallen dramatically and Richemont is currently facing the toughest market conditions since its formation 20 years ago,” the Geneva-based company explained in its third-fiscal-quarter sales report. “Given the current economic climate and the uncertainties facing us, we see no cause for optimism.”
Richemont registered declines in each of its main product categories as total sales fell to EUR 1.552 billion ($2.06 billion) for the period. Jewelry sales fell 7 percent to EUR 800 million ($1.062 billion); Richemont's brand Cartier reported lower sales than last year, while its Van Cleef & Arpels brand saw marginally lower sales "following very strong growth in the year." Watch sales decreased 5 percent to EUR 404 million ($536 million).
Sales were weakest in the Americas, where Richemont reported a 24 percent decline in sales for the period; at constant exchange rates, sales there fell 28 percent. Sales across Europe dropped 8 percent, while in Asia-Pacific and Japan, sales at actual rates grew 4 percent and 1 percent respectively. At constant exchange rates, the value of sales in Japan decreased 18 percent.
Sales in the nine months ending December 31, 2008, increased 3 percent to EUR 4.352 billion ($5.777 billion). Jewelry sales for the fiscal year to date rose 4 percent, and sales of watches were up by 6 percent.