Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...


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

Charles & Colvard Reports FY Sales +27%, Loss of $1M

01 april 2014

Charles & Colvard reported that its revenue improved 26.9 percent year on year to $28.49 million for the fiscal year that ended on December 31. Total costs and expenses jumped 35.5 percent to $30.07 million, leading to a net loss of $1.29 million compared with profit of $4.38 million one year earlier, Rapaport reported.
During the year, loose jewel sales increased 23 percent to $18.5 million and finished jewelry sales increased 34 percent to $10 million. The company’s wholesale business increased 23 percent to $25.6 million, while its direct-to-consumer businesses jumped 78 percent to $2.9 million. International sales rose 40 percent to $7.8 million.
The company explained that income comparisons were difficult because net earnings in 2012 included a $3.8 million income tax benefit. Still, at the end of 2013, Charles & Colvard held cash and liquid investments of $2.6 million, which was down $9.8 million from one year ago; however, the company carried no debt. Inventory, including long-term and consigned inventory, was $42.4 million as of December 31, which was up $9.6 million from 12 months earlier.
“This past year represented the latest step in our four-year-long progressive growth of the company, a journey that we began in 2010,” said Randy N. McCullough, the CEO of Charles & Colvard. “We achieved compounded annual revenue growth in excess of 30 percent for the past four years and made investments in management and infrastructure to prepare for opportunities in 2014 and beyond.
“As we look ahead to 2014, we are focusing on improving profitability and growing our business on several fronts. These include pursuing additional new customers and channels and increasing public awareness of Forever Brilliant®,” he said.