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Luk Fook Hong Kong store
Luk Fook Suffers as Tourists Snub Hong Kong
Sales at Luk Fook slumped in the second fiscal quarter as the Hong Kong-based jeweler suffered from a continued slowdown in tourism and local demand in its home city.Group-wide same-store sales — at branches open for at least a year...
Retail Oct 19, 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
TSL Malaysia story
Tse Sui Luen Expects Loss Amid Tourist Slowdown
Hong Kong-based jeweler Tse Sui Luen (TSL) expects to incur a net loss of at least HKD 40 million ($5.2 million) for the first fiscal half as the Covid-19 pandemic depressed the company’s sales.The loss for...
Polished Markets Oct 13, 2020 Rapaport News
Antwerp Diamond Bourse
Hong Kong Show Cancellation Hits Belgium Trade
Belgium’s polished shipments slumped last month as the cancellation of the September Hong Kong show and continued uncertainty around Covid-19 stalled the sector’s recovery.“Rough is performing really well; polished is still somewhat subdued,” a spokesperson...
Polished Markets Oct 12, 2020 Rapaport News
Polished diamond and loupe
China Cracks Down on Diamond Smuggling
China has arrested 121 people suspected of bringing CNY 3.88 billion (around $570 million) in diamonds into the country through illegal channels since 2015, according to a state-owned newspaper.Officials seized more than 2,520 diamonds,...
Financial-Legal Oct 01, 2020 Rapaport News
HK Retail 150
Hong Kong Retail Remains Weak in August
Sales of jewelry and other luxury items in Hong Kong slid in August as coronavirus cases surged.Revenue from jewelry, watches, clocks and other valuable gifts plunged 38% year on year to HKD 2.46 billion ($317.5 million)...
Retail Sep 30, 2020 Rapaport News
Sothebys HK Mag Jewels 150
Sotheby’s to Sell 119ct. Sapphire in Hong Kong
Sotheby’s will sell a 119-carat, royal-blue, unheated Burmese sapphire in Hong Kong next week, the largest such stone the auction house has offered in 20 years. The cushion-shaped, 118.88-carat stone, surrounded by pear-shaped diamonds weighing...
Polished Markets Sep 29, 2020 Rapaport News
Bonhams Leslie Roskind 150
Bonhams Appoints Hong Kong Jewelry Head
Bonhams has promoted Leslie Roskind to lead its Hong Kong jewelry department, it said Monday.Roskind, who has been with Bonhams since April 2019, will oversee the procuring and selling of jewelry in the municipality,...
Polished Markets Sep 21, 2020 Rapaport News
HK Sept 2019 show
Hong Kong Show to Go Virtual
The Hong Kong show usually scheduled for September will take place in an online-only format this year due to the coronavirus.Jewellery & Gem World Hong Kong, formerly the September Hong Kong Jewellery &...
Polished Markets Sep 01, 2020 Rapaport News
Hong Kong Retail 150
Hong Kong Retail Continues to Slide in July
Sales of jewelry and other luxury items in Hong Kong plunged in July amid a continued lack of tourism and a resurgence in coronavirus cases.Revenue from jewelry, watches, clocks and other valuable gifts slid 54% year on year...
Retail Sep 01, 2020 Rapaport News
Chow Sang Sang store 150
Chow Sang Sang Turns Focus to China
Jeweler Chow Sang Sang will open more than 40 new stores in China by the end of the year, while closing a number of locations in Hong Kong.“Despite all the uncertainties brought on by the pandemic and geopolitical strife,...
Retail Aug 30, 2020 Rapaport News
ABN Amro branch in Terneuzen, The Netherlands
ABN Amro to Cease Hong Kong Diamond Lending
Dutch bank ABN Amro will close its Hong Kong diamond business in a major trimming of its global operations.The company is shutting the branch from which it lends to the local polished market, as part of a retreat from...
Financial-Legal Aug 13, 2020 Joshua Freedman
Hong Kong skyline
Hong Kong Trading Hits New Low
Polished-diamond imports into Hong slumped in the second quarter as the Covid-19 pandemic damaged local demand. Shipments into the municipality fell 45% year on year to $2.24 billion, the weakest for any quarter since...
Polished Markets Aug 09, 2020 Rapaport News
HK skyline
Hong Kong Retail Takes ‘Austere’ Turn
Hong Kong’s retail market took a turn for the worse this month amid the coronavirus’s resurgence, reversing a slight improvement in June, the government cautioned Thursday.The municipality has entered a third wave of infections, prompting...
Retail Jul 30, 2020 Rapaport News
Bulgari store in Ginza, Tokyo.
LVMH Revenue Dives as Tourism Dries Up
LVMH, which owns Bulgari and Chaumet, saw sales of watches and jewelry slump in the first half of 2020 as the coronavirus reduced tourist spending and affected demand from wholesale customers.The category endured the...
Retail Jul 28, 2020 Rapaport News
Watchmaker
Watch Exports to Hong Kong and US Still Weak
Swiss watch exports dropped heavily in June as continued slowdowns in Hong Kong and the US outweighed a recovery in China.Total shipments fell 35% year on year to CHF 1.13 billion ($1.21 billion), the fourth consecutive monthly decline,...
Watches Jul 21, 2020 Rapaport News
HK Show Sept 2019
September Hong Kong Show Now in November
The September Hong Kong show has been postponed to November due to the coronavirus and related travel restrictions, organizer Informa Markets said Wednesday.Jewellery & Gem World (JGW) Hong Kong, formerly the September...
Polished Markets Jul 08, 2020 Rapaport News
Melee polished diamonds being graded and organised
India Extends Import Curbs as Surat Shuts Again
Indian trade bodies have recommended continued limits on rough-diamond imports in July, with a fresh weeklong shutdown of the Surat cutting sector adding to concerns about the market.The Gem & Jewellery Export Promotion Council (GJEPC)...
Polished Markets Jul 01, 2020 Joshua Freedman
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
HK March 2019 show
Hong Kong August Shows Canceled
The Hong Kong Trade Development Council (HKTDC) has called off this year’s jewelry fairs, scheduled for August, after quarantine rules made the events inaccessible to overseas participants.The HKTDC initially postponed the...
Polished Markets Jun 21, 2020 Rapaport News
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