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LVMH H1 profit up 28% to USD 2 bn

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LVMH reported revenue growth of 26 per cent Y-o-Y to USD 16 bn in H12012. Group profit rose 28 per cent to USD 2 bn. The luxury group, which acquired Bulgari one year ago, reported organic growth (comparable sales at constant exchange rates) of 13 per cent Y-o-Y for the watches and jewellery segment. With Bulgari’s or \nc.1vxded,sates f evenue ... Read More »

Thailand’s jewellery exports to grow 6% in 2012

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With the long-term growth prospects from Hong Kong and China offsetting softening demand from traditional markets such as the US and Europe, Thailand’s gemstone and jewellery industry is expected to register a six percent growth in exports this year. the ministry of commerce was cited as saying. The ministry remains positive about Thailand’s jewellery exports in 2012 in spite of ... Read More »

Hong Kong’s retail jewellery sales grow in July

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Hong Kong’s Census and Statistics Department published provisional retail sales for July, showing a 3.8 per cent year-on-year (Y-o-Y) to USD 4.7 bn (HKD 36.5 bn). The volume of retail sales increased by 1.3 per cent. For the first seven months of 2012, Hong Kong’s retail sales have increased by 11.7 per cent to USD 33 bn (HKD 256.5 bn). ... Read More »

China witnesses entry of more luxury brands

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Despite the recent reports of an economic downturn in China, luxury companies continue to build their extravagant retail spaces for the growing mass of wealthy and middle class shoppers. The latest example of this is Swiss luxury watch brand, Hublot, which opened its second boutique in Shanghai. Located on Nanjing West Road, an area known for its concentration of top ... Read More »

Gemfields announces new group CEO

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Gemfields plc announced recently that Devidas Shetty has been promoted from the position of group chief financial officer (CFO) to group chief operating officer (CEO). Shetty will be responsible for providing operational direction and support to the respective business heads of each of the group’s operating divisions as they continue to focus on profitability, operating efficiency, resource allocation and delivery. ... Read More »

SRS Jewells launches two wholesale units

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SRS Jewells, the flagship brand of SRS Ltd., a multi business group has launched its wholesale outlets in Zaveri Bazar, Mumbai & in Ahmedabad. The group “c also of Rsl, 800 crores in the FY 2011-12. Dr. Anil Jindal, chairman, SRS Group, said, “The jewellery vertical has proved itself to be our top performing business in terms of revenues, profitability ... Read More »

Low monsoon may weaken gold demand in India: HSBC

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Indian farmers are watching the progress of the annual monsoon rains, which have been lighter than normal. If rains do not improve, physical gold demand in India could be hit, said HSBC Holdings plc (HSBC) in a commodity research note. James Steel, HSBC analyst stated that typically, a good monsoon results in a good harvest, which in turn boosts agricultural ... Read More »

Titan’s jewellery income up 7.8%

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Titan Industries Ltd recorded an income growth of 9.2 per cent in an extremely challenging Qiof 2012-13. While the sales income grewfrom Rs 2020.51 crores last year to Rs 2205.65 crores in Q1, the profit after tax (PAT) for the same period grew by 8.8 per cent to Rs 156.09 crores from Rs 143.51 crores last year. The company’s profit ... Read More »