RapNet


Rapaport News

 

Retail

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Alrosa Upbeat on 1Q Diamond Retail Market

Consumer sentiment and currency fluctuations drive 7% growth, miner says.
Jun 24, 2018 5:39 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Diamond-jewelry sales grew 7% in the main retail markets during the first quarter amid strong consumer sentiment and beneficial fluctuations in exchange rates, according to Alrosa.

Revenues increased 5% year on year in the US and Canada, the largest consumer market, the Russian miner said Friday. Sales in the Asia-Pacific region jumped 11%, with strong growth in mainland China, Hong Kong and South Korea — the last two due to a rise in tourist numbers. Japan saw a 7% improvement in dollar terms as the weaker yen attracted an influx of Chinese shoppers, Alrosa explained.

Sales in India were stable as improvements at large retailers offset a weaker performance by small chains and independents. In Europe, revenues climbed 14%, buoyed by the relative strength of the euro against the dollar during the quarter, Alrosa said.

The global luxury market grew 13% during the period, the report continued. Asia Pacific led the increases with a 20% rise, followed by Europe at 18%, the producer added.

Alrosa based its data on figures from retailers and national statistics, it said.

Image: Hadrian/Shutterstock
Tags: Alrosa, asia pacific, Asia-Pacific, Canada, China, Consumer sentiment, currency, Europe, Hong Kong, Japan, Jewelry, Rapaport News, retail, Russia, South Korea, US
Similar Articles
Jewelry VendorsTrade Bodies Relaunch Cost of Business Survey
Sep 05, 2019
Jewelers of America (JA) has partnered with the Jewelers Board...
Tiffany & Co. Expanding in China
US Trade Calls to Delay Tariff Hike
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us