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

Titan's 3Q Sales -11%, Profit -19%

04 february 2014

Titan Company Limited, the parent company of India's Tanishq brand, reported that sales of jewelry and watches, in addition to revenue from other business areas fell 11.3 percent year on year to $425.3 million (INR 26.76 billion) for the third quarter that ended on December 31.
Operating expenses fell 11 percent to $388.8 million (INR 24.46 billion) but profit after taxes fell 18.8 percent to $26.3 million (INR 1.65 billion), Rapaport reports.
Titan's jewelry sales, representing the majority of its revenue, fell 15.4 percent to $338 million (INR 21.27 billion), while watch sales rose 7.5 percent to $72.4 million (INR 4.55 billion).
Titan stated that jewelry sales during the festive season, in particular, were poor and that there was lower demand for gold jewelry for the duration of the quarter. The jewelry industry has been adversely impacted by regulatory measures that were implemented this year to restrict gold imports, according to the firm.
Bhaskar Bhat, the managing director of Titan Company, said, ''The sentiments in the market continue to be weak and the company witnessed an extremely poor retail sales quarter for both its watches and jewelry businesses. The impact of the festive season this quarter was much below our expectations. Although the stock market has picked up, the high inflation levels have resulted in lower disposable income in the hands of consumers. In the last quarter of this financial year, we have planned aggressive sales promotions for both watches and jewelry to stimulate demand and generate consumer interest in these categories. We will continue to make adequate investments in mass communication and build our brands.''
Titan operated 1,039 retail stores as of December 31 and while its primary line of business is jewelry, the firm also manufactures and sells eyewear and precision engineering equipment and it oversees a business-to-business operation.