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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
Hong Kong
Hong Kong Retail Sees Gradual Recovery
Hong Kong recorded its gentlest decline in hard-luxury revenues for a year and a half, as a drop in coronavirus cases boosted the local retail market.Retail sales of jewelry, watches, clocks and valuable gifts fell 16% year...
Retail Jan 04, 2021 Rapaport News
Swiss Watches
China Rebound Boosts Swiss Watch Exports
Swiss watch exports showed a stabilizing trend in November as buoyant Chinese demand helped ease the decline the industry had seen for most of this year.Global shipments fell 3.2% year on year to CHF 1.94 billion...
Watches Dec 21, 2020 Rapaport News
HK March 2018 show
Hong Kong March 2021 Shows Postponed
The organizers of the Hong Kong diamond and jewelry shows scheduled for March 2021 have pushed the events back to later in the year, citing continued travel restrictions.The Hong Kong International Diamond, Gem...
Polished Markets Dec 07, 2020 Rapaport News
Hong Kong smuggling Nov 2020
HK Uncovers Largest Smuggling Case in Years
Hong Kong customs officials seized 162 diamonds at a border crossing with China last week, claiming the stones had been smuggled in a driver’s trouser pocket.The goods had a market value of around HKD 6.4 million...
Financial-Legal Dec 02, 2020 Rapaport News
Luk Fook store MixC World in Shenzhen Bay
Luk Fook Eyes China Expansion
Hong Kong-based Luk Fook will accelerate its expansion in mainland China, considering the market a strong source of revenues amid struggles in its home territory.The jewelry retailer plans to open a net 250 new mainland stores...
Retail Nov 26, 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
Shutterstock
Swiss Watch Exports Maintain Gloomy Streak
Swiss watch exports saw their ninth consecutive monthly decline as US orders slipped and a fresh wave of European lockdowns cast a cloud over demand in the region.Global shipments fell 7% to CHF 1.88 billion ($2.07 billion) in October,...
Watches Nov 19, 2020 Rapaport News
TSL Malaysia store
Hong Kong’s Tse Sui Luen Suffers Heavy Losses
Hong Kong-based jeweler Tse Sui Luen (TSL) fell into the red in its first fiscal half as the coronavirus and tensions between the US and China battered its business across the region.The retailer...
Retail Nov 19, 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
Hong Kong 150
Hong Kong Polished Imports Slide
Hong Kong’s diamond trade continued to decline in the third quarter, though the downturn was gentler than during the first half of the year. Polished imports fell 32% year on year to $2.69 billion in the...
Polished Markets Nov 01, 2020 Rapaport News
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
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