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's Jewelry, Watch Sales -1% in 1H

29 july 2014

LVMH reported that revenue improved 3 percent year on year to $18.9 billion (EUR 14 billion) in the first half of the year, while the luxury group's share of profit slipped 4 percent to $2 billion (EUR 1.51 billion). LVMH's same-store sales increased 5 percent. The retailer observed good sales resilience for luxury goods across Europe and continued growth in Asia and the U.S., Rapaport reports.
Sales across the company's jewelry and watches division fell 1 percent year on year to $1.7 billion (EUR 1.266 billion) and same-store sales rose 3 percent. Operating profit from the jewelry sector dropped 31 percent to $144 million (EUR 107 million).
The company stated that economic uncertainties continued to make multi-brand retailers prudent in their inventory replenishment. The performance in the brands’ own boutiques exhibited significant growth, according to the company. Bulgari benefited from positive momentum in jewelry. TAG Heuer focused on the development of its iconic lines. The decrease in profit from recurring operations was principally explained by a negative exchange rate effect.
Bernard Arnault, the CEO of LVMH, said, “The results of the first half demonstrate LVMH’s excellent resilience, thanks to the strength of its brands and the responsiveness of its organization in a climate of economic and financial uncertainties. The first half of the year also witnessed the smooth integration of Loro Piana into the group. Following the first half’s good resilience, it is with confidence that we approach the second half of the year and rely on the creativity and quality of our products and the effectiveness of our teams, to pursue further market share gains in our traditional markets, as well as in high potential emerging territories.”