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

Richemont FY Profits -31%, Sales +2%

15 may 2009

Richemont reported Thursday that its net profit for the fiscal year that ended March 31, 2009, fell 31 percent to $1.5 billion (EUR 1.1 billion) reflecting weakness in its luxury business. Sales rose 2 percent to $7.4 billion (EUR 5.4 billion) due to a strong first half of the year, when sales grew 10 percent. The company noted that sales declined 5 percent in the second half, RAPAPORT reported.
Johan Rupert, Richemont chairman, said he expects trading conditions to remain very challenging through to September 2009. “There are currently very few encouraging signs in the global economic picture,” Rupert said. “Given these conditions, we cannot predict when an overall improvement in trading will come about.”
The company’s jewelry maisons group, which includes Cartier and Van Cleef & Arpels, was the only segment to register an increase in operating profits, up 2 percent to $1.1 billion (EUR 777 million). Richemont's watchmaking business saw profits drop 23 percent to $390 million (EUR 287 million), while profits at the writing instruments segment decreased 45 percent to $93.7 million (EUR 69 million), and its leather and accessories business doubled its operating deficit to $13.6 million (EUR 10 million).
Jewelry sales rose 4 percent to $3.8 billion (EUR 2.8 billion), while sales of its watches increased 4 percent to $2 billion (EUR 1.4 billion). The writing instruments business registered a sales decline of 6 percent to $797.8 million (EUR 587 million) and sales of leather and accessories fell 5 percent to $400 million (EUR 294 million).
Rupert reported weak conditions across the globe, particularly in the U.S. and Japan. “Most European markets are unsettled and trading remains hesitant,” he added, while “[t]he Asia-Pacific region and the Middle East continue to report some positive sales trends.”
Richemont also announced that Norbert Platt, chief executive officer (CEO), will retire at the end of 2009 after five years in the position. No replacement was named.