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Were Diamond Companies Worth the Investment?
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What parameters would one use to assess a company’s performance? For our analysis, sales provide the best indication of how a business is doing. Taking that a step further, revenue generated across a group of companies within a sector...
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Research
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Jan 14, 2021
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Avi Krawitz
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Chow Tai Fook Sales Rise as China Recovers
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Sales at Hong Kong-based jeweler Chow Tai Fook grew almost 18% in the last three months of 2020 as a recovery in mainland China outweighed weakness in its home territory.“In light of the easing Covid-19 situation in mainland China,...
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Retail
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Jan 11, 2021
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Rapaport News
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De Beers Aims for Full Traceability by 2030
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De Beers has pledged to provide the origin and impact of all its diamonds by 2030 as part of a plethora of sustainability goals it has set out for the coming decade.By 2025, it will “scale” programs that help identify...
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Retail
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Nov 30, 2020
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Rapaport News
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China Rebound Boosts Chow Tai Fook Profit
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Chow Tai Fook saw earnings grow in the first fiscal half amid surging gold prices and a recovery in the Chinese market.Profit jumped 45% year on year to HKD 2.29 billion ($296 million) for the...
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Retail
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Nov 25, 2020
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Rapaport News
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De Beers Buys Petra Blue Diamonds for $40M
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De Beers has purchased five rough blue diamonds from Petra Diamonds for more than $40 million in partnership with one of its sightholders.The miner bought the Letlapa Tala collection together with South African...
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Mining
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Nov 25, 2020
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Rapaport News
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Chow Tai Fook Unveils In-House AI Grading Report
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Chow Tai Fook is launching its own diamond certificates based on artificial intelligence, using a new grading scale featuring numbers instead of letters.The Chow Tai Fook AI Diamond Grading Certificate will be available for stones weighing...
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Retail
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Nov 03, 2020
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Rapaport News
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China Resurgence Lifts Chow Tai Fook
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Retail sales at Chow Tai Fook grew 2.6% year on year in the second fiscal quarter as a strong recovery in China outweighed continued weakness in Hong Kong.Sales rose 21% on the mainland while slumping 52% in Hong Kong...
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Retail
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Oct 18, 2020
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Rapaport News
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Mining Sell-Off Highlights Sector’s Woes
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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...
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Mining
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Aug 06, 2020
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Leah Meirovich
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Hong Kong Slowdown Hits Chow Tai Fook
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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...
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Retail
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Jul 15, 2020
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Rapaport News
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Industry Leaders to Offer Insights in Virtual Session
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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...
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Polished Markets
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Jul 08, 2020
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Rapaport News
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Chow Tai Fook Expanding China Store Count
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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...
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Retail
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Jun 29, 2020
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Avi Krawitz
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Chow Tai Fook Sees Dim Hong Kong Outlook
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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...
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Retail
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Jun 11, 2020
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Rapaport News
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WFDB Expands Membership Beyond Core Trade
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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,...
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Polished Markets
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Jun 08, 2020
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Rapaport News
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Chow Tai Fook Revenue Tumbles Due to Virus
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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...
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Retail
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Apr 12, 2020
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Rapaport News
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Coronavirus Pummels Chow Tai Fook’s Sales
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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...
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Retail
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Mar 11, 2020
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Rapaport News
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WJA Campaign Targets Female Self-Purchasers
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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...
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Retail
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Mar 03, 2020
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Rapaport News
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Virus Plagues Chow Tai Fook Operations
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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...
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Retail
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Feb 12, 2020
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Leah Meirovich
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Luk Fook to Reduce Hong Kong Presence
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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...
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Retail
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Jan 20, 2020
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Rapaport News
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Chow Tai Fook Buys Chinese Retailer Enzo
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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...
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Retail
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Jan 19, 2020
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Rapaport News
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Chow Tai Fook to Shut Stores in Hong Kong
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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...
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Retail
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Jan 14, 2020
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Rapaport News
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