NEWS
Kiran Gems Restructuring its Operations
Mumbai: The Kiran Gems group has announced the restructuring of its operations which will include the creation of several separate and independent businesses in different countries.
Lucapa Earns $2.5M from 3rd Rough Sale of 2017
Perth: Australia's Lucapa Diamond Co. has
earned $2.5 million (A$3.3M) from a parcel of 1,919 carats at their third sale
in 2017 of rough diamonds from the Lulo Project in Angola. This represents an
average price of $1,317 (A$1,742) per carat, and brings their total 2017 sales
to $13.2 million at an average price of $2,055 (A$2,696) per carat.
Chopard Announces Collaboration with Rihanna
New York: Luxury Swiss jewellery brand
Chopard has announced a collaboration with singer Rihanna for two upcoming
collections.The ‘Rihanna Loves Chopard’ collection will debut at this year’s
Cannes Film Festival in May and will be available for sale in June.
India’s Gold Imports Down 24% in April-Feb ‘17
Mumbai: Import of gold into India rose to
US$ 3.4 billion during February 2017, as compared to US$ 1.4 billion a year
earlier, but the overall imports for the first eleven months of the previous
fiscal were still about 24% below the levels for the comparative period a year
ago, according to data released by the Indian government, as reported widely in
the media.
HK Retail Sales Remain Negative in February
Hong Kong: Retail sales in Hong Kong during
the month of February across all categories registered a 5.7% drop in value
terms and a 6.1% fall in volume terms year-on-year, according to statistics
released recently by the HK government. Provisional estimates put the sales at
$34.8 billion during February. Sales have now fallen for the last 24
consecutive months, though the rate of decline in recent months has been
relatively slower than before.
Rio Tinto to Fight A$447 Million Tax Bill
Perth: Rio Tinto will fight a A$447 million
tax bill it received from the Australian government Wednesday, adding that the
new assessment is not related to any tax avoidance scheme.
Cartier to Embrace WeChat for Chinese Ecommerce
Beijing: With 850 million active users
monthly, western luxury brands have been quick to embrace China’s “most
important platform for luxury brands”, WeChat. Local and international brands
have realised the potential of the platform to make them key players in China’s
$103 billion jewellery market. Western companies have used it for flash sales
as well as marketing and customer interaction. While these flash events have
spurred sales, China’s online sales remain limited, says Antoine Pin, managing
director of Bulgari in greater China. “The physical touch point seems to remain
important for our product category,” he says.
Rohit Sawhney is CEO of India Ratings & Research
Mumbai: India Ratings has announced the
appointment of Mr. Rohit Sawhney as Chief Executive Officer (CEO) of India
Ratings and Research Private Limited (India Ratings), effective immediately.
James Allen Receives $140 Million Investment
New York: Online diamond retailer James
Allen has received a $140 million equity investment from Francisco Partners.
Russia’s FSB Investigates Alrosa Office
Moscow: Russia's Federal Security Service
(FSB) is investigating the Moscow office of Alrosa in relation to non-core
asset sales between 2011 and 2013.