Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future

Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...

28 october 2024

Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki

The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...

14 october 2024

James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration

London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...

07 october 2024

Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products

Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...

30 september 2024

Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices

The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...

23 september 2024

Luk Fook ‘s retail sales for 1Q FY2023 records flat at -1%

20 july 2022
Luk Fook Holdings (International) Limited announces the retail sales performance of the Group for the first quarter of financial year ending 31 March 2023 at -1 per cent, which was slightly narrow as compared with the previous quarter. This was despite the high base effect and the resurgence of the pandemic and outstanding sales performance of gold products in Hong Kong market. The SSSG of its gold products and fixed price jewellery products were +9% and -19% respectively.
The SSSG of Hong Kong and Macau market in 1Q was +2%, and the SSSG of its gold products and fixed price jewellery products were +15% and -21% respectively. Hong Kong’s SSSG in 1Q was +40% mainly because the SSSG of gold products reached +54%, while most other products including diamond products recorded a double-digit growth.
Macau recorded a significant decline in April and May due to the resurgence of the pandemic in Mainland, along with a substantial increase in June. Therefore, its SSSG in 1Q was -43%.
The retail revenue in Hong Kong and Macau market decreased by around 1% y-o-y during the quarter. Due to the surging demand in gold products caused by the decline in gold prices, the SSSG from 1 to 7 July 2022 for Hong Kong was +116%, in which the SSSG of gold products was around +161%. The SSSG for Macau during this period turned negative again to -76% under the stringent anti-pandemic measures. 
The overall SSSG of the self-operated shops in Mainland was -28% and the SSSG of their gold products and fixed price jewellery products were -26% and -34% respectively, yet their overall SSSG decline narrowed to around -11% from 1 to 7 July 2022. 

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished