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Mining Ekati 150
Mining Sell-Off Highlights Sector’s Woes
Just as the sun emerged from behind the clouds and diamond demand began to recover from a glut in the manufacturing sector, the coronavirus pandemic hit. Its rapid spread forced many miners to shut down...
Mining Aug 06, 2020 Leah Meirovich
Chow Tai Fook
Hong Kong Slowdown Hits Chow Tai Fook
Sales in Chow Tai Fook’s Hong Kong stores dropped sharply in the first fiscal quarter amid a decrease in tourism and weak consumer sentiment due to the coronavirus pandemic.Retail sales slid 69% in Hong Kong and...
Retail Jul 15, 2020 Rapaport News
Diamonds Do Good
Industry Leaders to Offer Insights in Virtual Session
Diamonds Do Good will host a virtual gathering in which key leaders from the diamond and retail sectors will offer insights and perspectives on the future of the natural-diamond industry.“The world has undergone a seismic change...
Polished Markets Jul 08, 2020 Rapaport News
Chow Tai Fook Montage
Chow Tai Fook Expanding China Store Count
Pandemic or not, Chow Tai Fook has no intention of slowing its expansion into China, with plans to open approximately 450 stores on the mainland during the current fiscal year, managing director Kent Wong told...
Retail Jun 29, 2020 Avi Krawitz
Chow Tai Fook
Chow Tai Fook Sees Dim Hong Kong Outlook
Chow Tai Fook expects sales in Hong Kong to remain weak after reporting a sharp slump in revenue and profit due to the coronavirus. Consumer demand was slow in the municipality in April and May as tourists stayed...
Retail Jun 11, 2020 Rapaport News
Chow Tai Fook
WFDB Expands Membership Beyond Core Trade
The World Federation of Diamond Bourses (WFDB) has opened its membership to companies outside the core diamond trade, aiming to make the group more relevant and influential.Organizations connected to the diamond industry, such as retailers,...
Polished Markets Jun 08, 2020 Rapaport News
Chow Tai Fook
Chow Tai Fook Revenue Tumbles Due to Virus
Chow Tai Fook’s sales slid in the fourth fiscal quarter amid sluggish consumer demand and store closures brought on by the coronavirus pandemic.Retail sales slumped 41% in mainland China in the three months ending March...
Retail Apr 12, 2020 Rapaport News
Chow Tai Fook Hong Kong store
Coronavirus Pummels Chow Tai Fook’s Sales
Sales at Chow Tai Fook dropped 60% in Hong Kong and Macau and 42%in mainland China in the first two months of the year as stores shut for muchof the period.“In response to the measures of local...
Retail Mar 11, 2020 Rapaport News
WJA
WJA Campaign Targets Female Self-Purchasers
The Women’s Jewelry Association (WJA) has launched a new consumer-marketing campaign aimed at empowering women to buy jewelry for themselves.March Is Me Month will coincide with International Women’s Day, which takes place on March 8, as well as Women’s...
Retail Mar 03, 2020 Rapaport News
Chow Tai Fook
Virus Plagues Chow Tai Fook Operations
Chow Tai Fook will temporarily suspend operations at more than 40 locations in Hong Kong and Macau following a rise in the coronavirus epidemic.The shutdown is a protective measure in the interest of public health and safety, as the risk...
Retail Feb 12, 2020 Leah Meirovich
Luk Fook Hong Kong store 2016
Luk Fook to Reduce Hong Kong Presence
Luk Fook plans to scale back its Hong Kong store network and expand in mainland China and Macau, as events in the region have influenced consumer spending.The retailer expects a “single-digit” decrease in the number of rental...
Retail Jan 20, 2020 Rapaport News
Enzo
Chow Tai Fook Buys Chinese Retailer Enzo
Chow Tai Fook has acquired Enzo Jewelry, a colored-gemstone brand with around 60 retail locations in mainland China.Enzo, founded in 2004, targets “modern, sophisticated and self-confident women who demand fashionable jewelry with a highly distinctive...
Retail Jan 19, 2020 Rapaport News
HK protest
Chow Tai Fook to Shut Stores in Hong Kong
Chow Tai Fook intends to close up to 15 stores in Hong Kong as street protests and a tourism slowdown have hit sales.Leases on more than 40 of the jeweler’s 91 retail locations in the municipality are due to expire during the fiscal...
Retail Jan 14, 2020 Rapaport News
Chow Tai Fook
Chow Tai Fook China Sales Jump
Sales at Chow Tai Fook’s mainland China stores grew in the third quarter amid a significant expansion of the jeweler’s network in the country. Total retail sales climbed 17% year on year in China for the three...
Retail Jan 13, 2020 Rapaport News
Sotheby's Decade
Sotheby’s Reflects on 10 Years of Records
The past decade might be known for superheroes, Netflix and memes, but for Sotheby’s it was all about record-breaking jewels, as worldwide sales for the divisiontotaled more than $4.7 billion. The auction house...
Polished Markets Dec 25, 2019 Rapaport News
The Next Diamond Decade
The Next Diamond Decade
It wasn’t that long ago that De Beers declared the 2010s “The Diamond Decade.” Growth in China and India was projected to drive demand, while the US would take small steps out of recession. This is what...
Polished Markets Dec 25, 2019 Avi Krawitz
CTF store 150
China Growth Rescues Chow Tai Fook Sales
Sales at Chow Tai Fook were down only slightly in the first fiscal half as growth in the Chinese market offset a downturn in Hong Kong. Revenue fell 0.6% year on year to HKD 29.5 billion ($3.77billion) in the...
Retail Nov 28, 2019 Rapaport News
Chow Tai Fook
Chow Tai Fook Sales Slump
Hong Kong-based jeweler Chow Tai Fook has reported adownward trend in sales across both mainland China and Hong Kong in the secondfiscal quarter. Same-store sales of gold products — at branches open for atleast 12 months...
Retail Oct 17, 2019 Rapaport News
Everledger
Blockchain Group Everledger Gets $20M Funding
Chinese internet giant Tencent Holdings has led a $20 million investment in technology company Everledger, which provides blockchain services to the diamond industry.Everledger will use the money from the Series A funding round to finance...
Polished Markets Sep 24, 2019 Rapaport News
Jim Duffy
Tracr Aiming to Be More Than a Blockchain
As a tech guy, Jim Duffy spends much of his time on the road explaining technical terms in a way laymen can understand. He has his work cut out for him as CEO of Tracr, De Beers’ blockchain project — especially...
Polished Markets Sep 04, 2019 Avi Krawitz
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