Archives July 2023

$628 million: Michael Hill’s sales rose once more in 2017. Despite a slowdown in sales in the second half, Michael Hill International has produced another solid full-year financial report. Comparing year over year, the company saw a 6% gain in revenue, which is particularly amazing considering that Michaell Hill broke records for both sales and margin the year before. Total sales dropped by 0.8% in the second half. Overall, digital sales fell by 1.4%; however, they rose by 12.3% in the second half. The company recorded $AU628.1 million in group sales overall. Daniel Bracken, CEO of Michael Hill, vowed that better

Continue reading$628 million: Michael Hill’s sales rose once more in 2017.

At this year’s JCK Las Vegas and Luxury shows, retailers were seeking jewels that have performed well for the past few seasons, and especially during the 2022 holiday. They also went big for products that fall into a trending category—think enamel, genderless design, and Montana sapphire engagement rings. Overall, alternative bridal was still a priority for buyers, especially those hoping to draw in Gen Z customers, who strenuously try to avoid anything cookie-cutter. One increasingly popular choice, according to a retailer we spoke with: rings with a center gemstone, from moss agate to tourmaline. Exceptional loose stones for custom projects

Continue readingWhat Retailers Want: The 2023 Vegas Jewelry Week Edition

The withdrawal of Rs 2,000 currency notes has not triggered panic buying of gold jeweler using cash, as witnessed during the 2016 demonetization. Jewelers in various cities told Resource that customers were not desperate to use their Rs 2,000 notes to buy jewelers. Although some jewelers initially demanded a premium for purchases using Rs 2,000 notes, customers weren’t willing to pay anything extra, contending that the bills were still valid. The Reserve Bank of India said May 19 the Rs 2,000 notes, introduced after demonetization in November 2016, will be withdrawn from circulation. The RBI gave the public time till

Continue readingGround Report | No panic in the gold jewellery market on Rs 2,000 note withdrawal