Archive

  • The Hong Kong-based retailer said the PT950 platinum jewelry collection of pendants and rings was created for Chow Tai Fook’s customers in Singapore.

  • UBM Asia Ltd., Taiwan Branch and the Taiwan Jewelry Industry Association will host the third Taiwan Jewellery & Gem Fair from November 20 to 23 at the Taipei World Trade Center.

  • Revenue at luxury goods firm Richemont rose by 3.9 percent on the year to $11.5 billion (10.4 billion euros) in the year that ended on March 31, with revenue in the firm's retail division increasing by 4.1 percent to $6 billion (5.44 billion euros). The group's jewelry maisons, Cartier, Van Cleef & Arpels and Giampiero Bodino, experienced a "challenging environment," but nevertheless managed to post a rise in sales of 4 percent to $6.2 billion (5.66 billion euros). However, the group's profit figure slumped 35.5 percent to $1.5 billion (1.33 billion euros).

  • The popular jewelry seller says its revenues will rise this year faster than previously reported. In an upbeat trading statement at the end of another record quarter for sales, the publicly listed Danish brand announced that it will speed up the opening of concepts stores from 300 to 325.

  • Rapaport reports, unsurprisingly, that polished markets are seeing very low trading volumes, and that prices are fairly relatively stable after recent corrections however traders remain uncertain and cautious about the future.

  • Organizers of the 2015 Presidents' Meeting say registration for the event is open. The meeting will see presidents of the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) meeting in Tel Aviv from June 14 to 16.

  • The Southeast Asian economy is located on one of the world’s most important shipping routes, it has a young and growing population, it is a cheaper manufacturing alternative to China, and Japanese firms feel more comfortable investing there than in China due to ongoing Sino-Japan arguments. As a result, there is large-scale foreign investment and PricewaterhouseCoopers says the country could become one of the world’s fastest-growing economies between now and 2050.

  • The jewelry firm reported a 40% jump on the year in revenues to $607 million in the fourth quarter of last year, while net income soared by 36% to $154 million.

  • Graff Diamonds has elegant new digs in Hong Kong. The British fine- jewelry brand bowed a Peter Marino–designed flagship store this month inside the famous St. George’s Building.

    The location joins the venerable retailer’s growing portfolio of stores in Asia, which encompasses 18 freestanding locations in cities including Beijing, Hangzhou, Macau, Shanghai, Tokyo, and Tapei.

  • In 8 years' time, fancy colored diamonds experienced an average total appreciation of 154.7%, according to the Fancy Color Research Foundation (FCRF), a non-profit colored diamond index that was established last year. China and Hong Kong now represent approximately 40% of sales of the fancy colored diamond market, according to FCRF.

  • A survey carried out at the World Economic Forum event in Switzerland finds CEOs less optimistic about the economy this year than in 2014.

  • In an update to figures published just three months ago, the International Monetary Fund (IMF) predicts growth of 3.5% this year and next compared with an earlier forecast of 3.8%.

  • Luxury brand retailer, which owns the Cartier and Van Cleef & Arpels houses among other units, saw declining sales in Japan and Asia, which were offset by rises in Europe and the Americas.

  • The Swiss franc is surging against the dollar and the euro following the national bank's decision to get rid of its minimum exchange rate.

  • Gemfields’ auction of high-quality rough rubies in Singapore secured an average price of $689 per carat. Sales totaled a company record $43.3 million.
     

  • Christie’s Hong Kong has sold a ring set with a 2.09 ct. fancy red diamond for a record-breaking $5,095,872 ($2.44 million per carat) to a private Asian investor. It is the most expensive red diamond ever sold at auction.

  • Chow Tai Fook Jewelry Group Ltd has revealed plans to open new stores outside its main markets of Hong Kong and the Chinese mainland, as Chinese consumers living on the mainland are increasingly traveling overseas.

  • "Over the next five years, Singapore's jewelry market is expected to increase by an average of 3% each year," says Ari Epstein, CEO of the Antwerp World Diamond Centre (AWDC). “Diamonds could play a major part in that development, which makes diamond funding interesting for Singapore as well.”

  • 140 Belgian companies joined Princess Astrid of Belgium on an economic mission to Malaysia that took place yesterday. They attended a B2B networking event organized by The Antwerp World Diamond Centre in collaboration with FGJAM, the Federation of Goldsmiths and Jewellers Associations of Malaysia.

    Experts believe that the Malaysian jewelry market will expand by some 1.6% in volume and 0.9% in value in 2015. On average, the Malaysian jewelry market is expected to grow by 1% every year until 2018.

  • Chinese imports of the yellow metal from Hong Kong increased for the third month running on higher jewelry sales.

  • The economy of Japan, which is the world's third-largest diamond consuming market and the third biggest economy, posted negative growth for the second consecutive quarter, putting it technically into recession.

  • Around 25 percent of the fashion and luxury ads examined by two Italian cyber-security experts on Facebook found that websites were selling fake luxury items.

  • With Hong Kong recording $1.56 of exports for every $1 in imports, analysts believe companies seeking to profit from yuan appreciation are consistently creating fake export invoices.

  • Ratings agency Standard & Poor's said the Japanese government's goal of increasing its sales tax for the consecutive year may harm the country's credit rating if it harms economic recovery.

  • Lawrence Ma, President of the Diamond Federation of Hong Kong, discusses the Chinese economy’s impact on Hong Kong’s diamond trade and the general state and future prospects for the trade.

  • Less than 1% of Chinese engagement rings were set with diamonds just 20 years ago. Today, that number has increased to almost 50%. The Chinese appear to consider diamonds as a great investment now that the country's real estate market is stagnating.

  • Records were broken at Sotheby's Hong Kong sale of magnificent jewels and jadeite, with the selling item being a fancy vivid purple-pink diamond ring selling for $17.7 million, or $2.1 million per carat.

  • A Chinese mining company has invested $10 million in gold mine, adding to several Chinese businesses which have recently invested in the country’s mining industry. During President Mugabe’s State visit to China in August, a number of deals were signed that will see even more investments.

  • During the first half of 2014, China was Angola’s main export market, absorbing goods amounting to over 50 percent of the country’s total exports, including diamonds, according to the Angolan National Customs Service.

  • The Taiwan Gem & Jewellery Fair, hosted by UBM Asia, will take place from November 21 to 24 at the Taipei World Trade Centre, with 270 exhibitors from 23 countries.

  • A pink 8.41 ct. pear-shaped diamond is the showpiece of Sotheby’s Autumn Sale in Hong Kong. Due to its distinctive hue and exceptional purity, experts have estimated its value to be between 13 million and 15.5 million USD.

  • Street protests across the city have affected four of Hong Kong’s top shopping districts. Although many retailers, including Prada and Cartier outlets stayed open, some shops have closed their doors. Sales of luxury goods, cosmetic products, and consumer durables are said to have been affected.

  • Decreasing polished prices as Chinese demand moves to larger sized and lower quality goods. Rough trading is subdued in the run up to the De Beers sight next week.

  • What is the potential long-term economic and business impact of the massive protests sweeping Hong Kong? A number of investment analysts have issued reports on the issue in recent days.

  • Factory activity slipped across much of Asia last month, with slowdowns in India, Japan and Taiwan and a fall in South Korea hitting hopes for a pick-up in world growth this year.

  • A small but eye-catching collection of watches and jewelry owned by Japanese music producer, DJ and entrepreneur Nigo will be auctioned in Hong Kong. The most striking piece is a diamond and white gold dollar sign necklace by Jacob & Co, which is estimated at $19,400.

  • The Singapore Gem & Jewellery Fair will run from 23-26 October and feature pavilions for Belgium, Germany, Hong Kong, Israel, Italy, Japan, Switzerland, Thailand and the U.S. The spotlight will also be on upcoming talent in jewelry design, with the design awards taking place on the first day of the fair.

  • Diamond “grower” Ila Technologies has acquired ISO Certification. The Singapore-based company is one of a few of its kind to have both the ISO 9001:2008 and ISO 14001:2004.

  • Gold held steady above a nine-month low on Tuesday as Asian shares remained unsettled by political unrest in Hong Kong, but was poised to post its sharpest monthly loss since June 2013 as a rapid climb in the dollar dimmed its appeal.

  • Tens of thousands of pro-democracy protesters blocked several areas of Hong Kong, maintaining pressure on China as it faces one of its biggest political challenges since the Tiananmen Square crackdown 25 years ago.