Trade News

Tanishq Reinvents Its Wedding Brand RIVAAH in a New Avatar (2021-04-12)

In India, wedding rituals and jewellery are closely connected and go together. Tanishq, India’s most trusted and loved jewellery brand has unveiled a new brand proposition for its wedding exclusive sub-brand Rivaah– ‘A Jewel for every Tradition’.  Every piece of wedding jewellery is a symbol of beautiful rituals that are the Read More...

Alrosa Sales Surge in March (2021-04-12)

Alrosa’s sales grew last month as manufacturers continued to restock inventory amid rising consumer demand in the US and China. “Jewelry sales results at key markets, including the US and China, indicate persistently high demand from end consumers,” said Alrosa deputy CEO Evgeny Agureev. “Alrosa Read More...

Pandora Revenue Rises in First Quarter (2021-04-12)

Pandora’s revenue increased in the first quarter, even as more than one-third of its stores remain shut due to Covid-19 restrictions. The company’s sales rose 13% on an organic basis to DKK 4.5 billion ($719.3 million) versus the same quarter in 2020, the jeweler said last week. Like-for-like sales Read More...

Gemfields Holds First Ruby Sale Since 2019 (2021-04-12)

Gemfields brought in $58.9 million at its first auction of rough rubies in more than a year, expressing optimism as operations at its Mozambique mine gradually resumed. The miner held seven small sales of high-, medium- and commercial-quality goods between March 15 and April 8, noting on Thursday th Read More...

Italian Banks and Diamond Broker Face Prosecution over Alleged $590m Fraud (2021-04-12)

Five banks and two diamond brokers in Italy are alleged to have made $590m by selling clients gems for investment at vastly-inflated prices, according to a Reuters report. Four of the banks - Banco BPM, Banca Aletti, UniCredit and Monte dei Paschi (MPS) - and one broker - IDB - are facing possible prosecution over th Read More...

Burmese gemstones, not so precious in the U.S. anymore? (2021-04-12)

The United States imposed sanctions on Myanmar's state gem company in a bid to cut the "economic resource" of the country's military rules. “Today’s action highlights Treasury’s commitment to denying the Burmese military sources of funding, including from key state-owned enterprises throughout Burma,” said Andrea Gacki Read More...

Maharashtra CM Appeals To the Gem & Jewellery Trade To Adapt To The New Normal (2021-04-10)

The Chief Minister of Maharashtra Hon’ble Shri Uddhav Thackeray conducted a virtual meeting on 9th April, 2021, to review the requirements of the Indian gem and jewellery industry during the current period of restriction in the state. Attending the meeting on behalf of the Maharashtra Government were Chief Secretary Shri. Sitar Read More...

Titan FY2020-21 Jewellery Sales Rebound; Launches ‘Responsible Sourcing’ Protocol For Diamonds (2021-04-09)

Titan Company’s jewellery division, comprising Tanishq, Zoya, Mia and CaratLane, continued to see strong sales momentum reflecting the strong market share gains during Q4 FY 2020-21 that ended 31st March, 2021. Despite the 70% loss in retail sales in Q1 due to lockdowns, the jewellery division has exceeded the retail sales of previous Read More...

Lucara Extends HB Sales Deal by Two Years (2021-04-09)

Lucara has announced a two-year extension to its deal with HB Antwerp to market the large rough stones (+10.8-cts) that represent 70 per cent of its revenue. The Canadian miner reached an initial agreement last July to sell the stones from its Karowe mine, Botswana, to the Belgian manufacturer based on the estimated polished Read More...

Mumbai Diamond Services Get Approval to Continue (2021-04-09)

Diamond-grading laboratories and other industry services are allowed to operate during Mumbai’s Covid-19 lockdown, according to a clarification by India’s Gem & Jewellery Export Promotion Council (GJEPC). The state government of Maharashtra has exempted manufacturing and related support activities from the rest Read More...