NEWS
WDM & Museum of Named Diamonds to Cooperate
Hong Kong: The World Diamond Mark
Foundation (WDM) and the Museum of Named Diamonds (MoND) announced they will be
joining forces to collect retailers' stories about diamonds at the upcoming JCK
Las Vegas show. The announcement comes on the heels of the WDM's call on
diamond and diamond jewellery retailers to meet the WDM team and share their
special diamond stories.
Indo-Russian Diamond-Ties Take a Giant Leap
Mumbai: In a historical development marking an important milestone in the
relations between the Indian and Russian diamond industries, The Gem &
Jewellery Export Promotion Council (GJEPC), India’s apex body representing the
gems and jewellery export trade and PJSC ALROSA, Russia’s largest Diamond
Mining company yesterday signed a Memorandum of Co-operation (MoC) in the
presence of India’s Prime Minister, Hon’ble Shri Narendra Modi and Russia’s
President Mr. Vladimir Putin.
Low Platinum Prices Push Jewellery Demand
Mumbai: It has been observed by market
analysts that young generation is giving preference to platinum over gold and
diamond jewellery.
‘Coronet by Reena Ahluwalia' Makes N. American Debut
Las Vegas: After a successful launch at
Baselworld, Coronet® is excited to debut the artistic partnership with world
renowned jewellery designer and painter, Reena Ahluwalia at JCK Las Vegas. The
much-anticipated spinning diamonds “Inner Brilliance” jewellery collection
under ‘Coronet by Reena Ahluwalia’ line is affordable for retailers, inventive
and patented.
India’s G&J Industry May Take a Year to Recover After GST
Mumbai: India’s gold jewellery industry may
take at least 12 months to recover after implementation of goods and services
tax (GST) since the organised segment in the industry comprises only 30 per
cent of the trade.
ALROSA Revenue Fell 17% in Q1 2017
Moscow: ALROSA published its financial
results on IFRS for the first quarter of 2017, and reported its revenue fell 17%
year on year.
Signet Jewellers Sales Down in 1st Fiscal Quarter
New York: Signet Jewellers said its first
quarter total sales were $1,403.4 million, down $175.5 million or 11.1%
compared with the first quarter last year, while same store sales decreased
11.5% compared to one year ago. The number of transactions decreased across all
divisions due to declining brick and mortar store traffic. Merchandise
categories and collections were broadly lower in the first quarter, but
e-commerce and Piercing Pagoda total sales increased versus the prior year.
Diamond fashion jewellery such as bracelets, earrings, and necklaces performed
well relative to the performance of the overall merchandise portfolio.
E-commerce sales in the first quarter were $81.0 million, up $0.9 million or
1.1% compared to $80.1 million in the first quarter last year.
ALROSA Extracted Large Diamond
Moscow: ALROSA said on Friday it had
extracted a large diamond weighing 60.32 carats, which is priced by experts at
about $ 174 500.
GJSCI Held “Training Partners Meet” to Discuss PMKVY 2.0 and Way Forward
Mumbai: Gem & Jewellery Skill Council
of India (GJSCI) organized a Training Partners Meet at SEEPZ in Mumbai to
discuss priorities of the coming year along with the updates on various schemes
and benefits. The meet was conducted by Mr. Binit Bhatt, CEO, GJSCI and team
for the 80 existing and potential Training partners that were present.
China Records Sustained Growth in Jewellery Sales
Beijing: Retail sales of gold, silver and
jewellery in China were up 7.8 percent in the first four months of the year,
indicating further signs of improvement in the market, according to data
released by the National Bureau of Statistics of China.