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

Online Jewelry Retailer Bidz.com Hit by Recession

26 february 2009

Bidz.com has announced that its fourth quarter net income plummeted by nearly two thirds due to sharply declining fine jewelry sales. However, the online jewelry retailer was able to meet Wall Street profit expectations, Israelidiamond.co.il reported.
Bidz.com reported a net income of $2.9 million as compared to a net income of $8.2 million a year ago. Net revenue declined by 44% to $35.1 million.
The online jewelry retailer stated that due to the fact that it did not employ significant promotion or offer heavy discounting, it was able to maintain profit margins. Bidz.com’s gross margin in the quarter was 34.4% as compared to 31.2% during the corresponding period in 2007.
For the year of 2008, net income fell 20% to $14.4 million, while net revenue rose by 11% to $207 million.
Bidz.com President Leon Kuperman stated: “While the retail spending environment remains exceedingly difficult and we expect will continue to be so through 2009, we believe that our focus on profitability and gross margins combined with our ongoing cost cutting initiatives, will allow us to remain profitable and financially strong while increasing our market share in the global jewelry market. “
The company stated that it expects to report first quarter revenue of between $30 million and $32 million.