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

Tara Jewels 3Q Profit -33%

21 february 2014

Tara Jewels Limited reported that its revenue rose 0.4 percent year on year to $81.3 million (INR 5.05 billion) for the third fiscal quarter that ended on December 31, 2013. The company's profit fell 33 percent to $3.5 million (INR 220.5 million), Rapaport reports.
During the quarter, the company experienced 6 percent growth across its international business, which accounted for 85 percent of its revenue. Demand primarily stemmed from the U.S., China and Australia.
In contrast, Tara's retail business in India was flat largely due to the challenging regulatory environment set by the Reserve Bank of India (RBI) to curb gold imports. Consequently, the company has re-thought its retail business strategy and will continue to expand, though through an ''asset light'' franchise model and shop-in-shop format.
"The 20:80 principle of RBI does not have a significant impact on Tara Jewels as we derive around 85 percent of the revenue from exports," said Rajeev Sheth, Tara Jewels' chairman and managing director.
The company noted that recent changes announced by RBI indicate that the government plans to encourage jewelry exports by giving exporters priority allocation of imported gold.
During the first nine months of the fiscal year, Tara Jewels revenue fell 27 percent to $192 million (INR 11.93 billion). Net profit dropped 39 percent to $7.2 million (INR 447.5 million)