Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Eduard Gorodetsky: Currently we see high demand for synthetic diamonds for use in technology segment rather than in jewelry

Director General of the Advanced Synthetic Research Center Eduard Gorodetsky told Rough&Polished about the current situation at the company, new exclusive technologies in the synthesis and production of lab-grown crystals, as well as the Research Center’s...

11 march 2024

Chow Tai Fook reports revenue & profit margin increase in H1 ended Sept.2023

01 december 2023

Chow Tai Fook, the leading jewellery retailer in Mainland China, announced its financial results for the six months ended 30 September 2023.

The company reported a 6.4% y-o-y increase in revenue and profit increase by 37.7%.

As at 30 September 2023, the company had a total of 7,458 Chow Tai Fook Jewellery points of sale in Mainland China. The company focused on enhancing store productivity and customer experience by leveraging on its existing retail network, unveiling of new designs for the HUÁ Collection, and the launch of the first-ever 360-degree global marketing campaign in 1HFY2024.

The company expressed confidence in the Mainland China jewellery market, citing the steady recovery of China's economy in 2023. The company reported a significant boost in store traffic and business recovery in various regions, due to the return of Mainland tourists. Also, Hong Kong and Macau experienced a rapid acceleration as popular destinations to Chinese tourists. Business recovery in ASEAN also gained strong traction, supported by both domestic consumption and tourist expenditure.

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