jewellery Archives - Inside Retail Asia

Pandora cuts Thai staff

397 employees to be cut from Pandora’s payroll.

New Zealand jeweller all but axes subsidiary chain

Jewellery firm acts after concluding strategic review.

Sales lose sparkle for Luk Fook

In a continuing sluggish market, Hong Kong-based Luk Fook Jewellery’s overall sales dropped by a quarter in the three months to December 31.

King Fook blames protesters for red ink

Luxury jeweller King Fook says it lost $149.25 million in the year to March 31, blaming the Occupy Central protest movement and the decline in cashed up Mainland shoppers. The group’s turnover from its retail business plunged 27.8 per cent to $817.6 million (from $1.13 billion the previous year) “following the general decline of the Hong Kong luxury goods retail market”. As the company discounted stock to increase sales, its gross profit margin fell from 23.7 per cent to 20.9 per ce…

Downturn? Not for The Hour Glass

Singapore listed watch retailer The Hour Glass Limited has defied the regional downturn in luxury watch sales.

Jubilee of Siam opens giant diamond boutique

Thailand’s Jubilee of Siam has opened what it says is Asia’s largest diamond boutique, a 1500 sqm store spread over four floors in the heart of Bangkok.

UK PE buys stake in PNJ Vietnam

Fast growing jewellery retailer PNJ Vietnam has caught the attention of UK private equity company LGM Investment.

Chow Tai Fook takes homeland hit

Hong Kong based jeweller Chow Tai Fook says sales in Hong Kong and Macau plunged 29 per cent over Lunar New Year, but rose in the mainland.

Graff Diamonds Hong Kong store opens

Luxury jeweller Graff Diamonds has further broadened its Asian presence, opening a new flagship in Hong Kong.

Chow Tai Fook sales slump 10%

Hong Kong’s weakening luxury sales market saw jeweller Chow Tai Fook’s retail sales fall 10 per cent in the third quarter. Compared to the same period last year, the group’s same store sales of gem-set jewellery fell 12 per cent and of gold products by 21 per cent, although this was coming off the ‘gold rush’ which saw significant volumes of gold being traded in the preceding year. “The decrease in the same store sales growth of gem-set jewellery was mainly due to the weak cons…

Watches and jewellery lack lustre in Asia

Western watch and jewellery brands are suffering from a sales slump in Asia. Swiss company Richemont, whose brands include Jaeger-LeCoultre and IWC, said Asia sales have dropped two per cent in the five months to August. Global sales of Hermes watches also dropped seven per cent year-on-year during the first half, due to weakened demand in China. Watch and jewellery sales have heavily decreased in Hong Kong due to political protests resulting in reduced tourist flow from mainland China.…

[:en]China’s jewellery market soars[:zh]中国的珠宝市场腾飞

[:en]China’s jewellery consumption continues to increase despite the clampdown on gift-giving.ChinaMarketResearchReports.com says jewellery sales in the Chinese Mainland reached US$75.8 billion in 2013, equivalent to 41.2 per cent of total global consumption. Chow Tai Fook, Lao Feng Xiang, Shanghai Yuyuan Tourist Mart, Chow Sang Sang and Luk Fook have become the leading brands in Mainland China and Hong Kong.According to its report, Chow Tai Fook occupied the highest share (8.63 per c…