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RRR Jan 2021 cover image
Were Diamond Companies Worth the Investment?
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...
Research Jan 14, 2021 Avi Krawitz
Chow Tai Fook store Wuhan China
Chow Tai Fook Sales Rise as China Recovers
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,...
Retail Jan 11, 2021 Rapaport News
Looking at polished diamond through loupe at Almod
De Beers Aims for Full Traceability by 2030
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...
Retail Nov 30, 2020 Rapaport News
Chow Tai Fook 150
China Rebound Boosts Chow Tai Fook Profit
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...
Retail Nov 25, 2020 Rapaport News
Petra De Beers Blue Diamonds 150
De Beers Buys Petra Blue Diamonds for $40M
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...
Mining Nov 25, 2020 Rapaport News
T Mark
Chow Tai Fook Unveils In-House AI Grading Report
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...
Retail Nov 03, 2020 Rapaport News
Chow Tai Fook store Chengdu China
China Resurgence Lifts Chow Tai Fook
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...
Retail Oct 18, 2020 Rapaport News
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
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