After opening three stores in Hong Kong, diamond jewellery brand has launched into Macau.
It has inaugurated its shop in MGM Macau with a ceremony attended by MGM China co-chairperson/executive director Pansy Ho Chiu King and MGM China CEO Grant Bowie.

Created by Indian jeweller Nirav Modi, the brand has shops worldwide and describes its Macau branch as a “fitting expansion” of its Southeast Asia presence.

However, the Macau opening is in the face of a downturn in the luxury-goods market. According to Macau Statistics and Census Services (DSEC) data, imports of luxury goods dropped considerably in September. Especially affected were watches and gold jewellery, dropping 32 per cent year-on-year to MOP3.3 billion (US$413.1 million) and 21.4 per cent to MOP4.2 billion respectively.

However, the number of luxury brands in Macau exceeds other cities and territories, including Las Vegas, according to brokerage firm Sanford C Bernstein.