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

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

LVMH Watch, Jewelry Sales -17% in 1H09

28 july 2009

LVMH Moët Hennessy Louis Vuitton reported that first half revenue rose 0.2 percent to $11.1 billion (EUR 7.8 billion). Net profits fell 23 percent to $975.5 million (EUR 687 million). Sales for the watches and jewelry category at LVMH fell 17 percent to $491.3 million (EUR 346 million) and profits for the jewelry division fell 73 percent to $28.4 million (EUR 20 million), RAPAPORT reported.
According to a statement issued by LVMH, the jewelry and watch segment suffered in a particularly difficult environment marked by destocking at retailers. However, TAG Heuer did increase market share in the United States and continued its expansion in Asia. "Confirming its position as a rising star brand, Hublot showed good resilience and opened its new manufacture near Geneva. Zenith celebrated 40 years of El Primero and Montres Dior continued to develop its Christal line. Chaumet, De Beers and Fred concentrated on improving the productivity of their networks and their boutiques."
Bernard Arnault, chairman of LVMH, said that despite the drop in sales for jewelry, watches, and a similar drop for the wines and spirits category, first half results demonstrated "exceptional appeal" of its luxury brands. "LVMH thus proves its exceptional capacity to resist thanks to the strength of its brands, the responsiveness of its organization and the talent of its teams."