Diamond Retains Lustre Among Online Shoppers - Kundan sets too find prominent buyers
Reports say that glittering even during the economic downturn, diamonds better known as a "girl's best friend", have emerged as one of the most popular buys among online shoppers.
Diamonds were much sought after purchases by women as well as men in January, according to data available with online marketplace eBay India.
Apart from loose diamonds, 'Kundan sets' and diamond rings were the most popular among jewellery shoppers. "Diamonds continue to be a girl's best friend. As more women shop online as well as most male shoppers gifting jewellery to their significant others, jewellery is the single most popular category on eBay India," an analysis report of 50 most popular trends by the company showed.
Monday, February 9, 2009
Diamond Jewellery Gaining Popularity Down South - Registers a 25% positive growth
Diamond Jewellery Gaining Popularity Down South - Registers a 25% positive growth
Kerala market is known for its affinity for gold, diamond jewellery is becoming increasingly popular with customers in the state.
Industry experts say that sale of diamond jewellery in the state has increased from Rs 400 cr in 2005 to nearly Rs 600 cr in 2008. The state has about 20 diamond dealers and over 50 retail outlets selling diamond jewellery.
"Even though the economic slowdown has affected the consumer market in the state, the sale of gold and diamonds has been registering a positive growth in the last few months," they said.
As per a report of De Beers Diamond Trading Company, the top city for retail diamond jewellery sale in the country is Hyderabad, followed by Kochi. "While the national sale figure of diamond jewellery has fallen nearly 70 percent from last year's sale figure in the last four to five months, in Kerala the sale figure shows a growth rate of about 25 percent," said Sunny Diamonds chairman and managing director P T Sunny.
He said that the diamond market in the state was an established one compared to that of gold. "It took nearly five to seven years for diamond merchants in the state to attract people. Rather than considering it a luxury item, people have started to opt for diamonds because of their value for money and as a pledging option with various banks," said Sunny adding that the rising price of gold was yet another reason for people to opt for diamond jewellery.
"They fear that the price of gold may fall drastically at some point," he said. Cochin Stock Exchange Ltd director Varghese Mathew said that both gold and diamond jewellery have been attracting customers for the last several months.
"The highly volatile nature of the stock market in the last few months has forced people in the state to look for alternative segments like diamonds as an investment option," he said.
Kerala market is known for its affinity for gold, diamond jewellery is becoming increasingly popular with customers in the state.
Industry experts say that sale of diamond jewellery in the state has increased from Rs 400 cr in 2005 to nearly Rs 600 cr in 2008. The state has about 20 diamond dealers and over 50 retail outlets selling diamond jewellery.
"Even though the economic slowdown has affected the consumer market in the state, the sale of gold and diamonds has been registering a positive growth in the last few months," they said.
As per a report of De Beers Diamond Trading Company, the top city for retail diamond jewellery sale in the country is Hyderabad, followed by Kochi. "While the national sale figure of diamond jewellery has fallen nearly 70 percent from last year's sale figure in the last four to five months, in Kerala the sale figure shows a growth rate of about 25 percent," said Sunny Diamonds chairman and managing director P T Sunny.
He said that the diamond market in the state was an established one compared to that of gold. "It took nearly five to seven years for diamond merchants in the state to attract people. Rather than considering it a luxury item, people have started to opt for diamonds because of their value for money and as a pledging option with various banks," said Sunny adding that the rising price of gold was yet another reason for people to opt for diamond jewellery.
"They fear that the price of gold may fall drastically at some point," he said. Cochin Stock Exchange Ltd director Varghese Mathew said that both gold and diamond jewellery have been attracting customers for the last several months.
"The highly volatile nature of the stock market in the last few months has forced people in the state to look for alternative segments like diamonds as an investment option," he said.
Saturday, February 7, 2009
HAPPY VALENTINE DAY !!!!
Having trouble finding the perfect Valentine’s Day gift? Well, there’s help! www.lamha.com has put together a collection of the very best Valentine’s Day gift ideas. She’ll be so please by a beautiful jewelry gift this Valentine’s Day from this collection. Click over and get started shopping. Valentine’s Day is just around the corner!
Friday, February 6, 2009
LVMH 2008 Sales Rises 4 percent
LVMH 2008 Sales Rises 4 percent - But a 2 percent decline at constant exchange rates
Rapaport reports that LVMH Moët Hennessy Louis Vuitton reported that its 2008 sales rose 4 percent to EUR 17.2 billion ($22 billion). At comparable exchange rates, the company saw sales growth of 7 percent. Group profits, although nearly flat from 2007 at EUR 2 billion ($2.6 billion), set a new record for the luxury goods company.
The watches and jewelry category rose 6 percent to EUR 879 million ($1.1 billion), but experienced a 2 percent decline at constant exchange rates. Operating profits fell 16 percent to EUR 118 million ($151 million), the steepest decline of all of the company's sales categories. LVMH reported a noticeable drop in jewelry sales during the fourth quarter due to weak sales in the U.S., but "good performance in Europe and Asia compensated in part for the slowdown in the American and Japanese markets."
Bernard Arnault, chairman and chief executive officer (CEO) of LVMH, said, "The 2008 results demonstrate the exceptional reactivity of our organization in this period of economic crisis. The group has always emerged stronger from previous economic downturns thanks to the dynamic innovation of its brands, the quality of its products and the effectiveness of its teams. LVMH approaches the challenges and the opportunities of 2009 with confidence and determination and has set the objective of increasing its leadership position in the worldwide luxury goods sector."
Rapaport reports that LVMH Moët Hennessy Louis Vuitton reported that its 2008 sales rose 4 percent to EUR 17.2 billion ($22 billion). At comparable exchange rates, the company saw sales growth of 7 percent. Group profits, although nearly flat from 2007 at EUR 2 billion ($2.6 billion), set a new record for the luxury goods company.
The watches and jewelry category rose 6 percent to EUR 879 million ($1.1 billion), but experienced a 2 percent decline at constant exchange rates. Operating profits fell 16 percent to EUR 118 million ($151 million), the steepest decline of all of the company's sales categories. LVMH reported a noticeable drop in jewelry sales during the fourth quarter due to weak sales in the U.S., but "good performance in Europe and Asia compensated in part for the slowdown in the American and Japanese markets."
Bernard Arnault, chairman and chief executive officer (CEO) of LVMH, said, "The 2008 results demonstrate the exceptional reactivity of our organization in this period of economic crisis. The group has always emerged stronger from previous economic downturns thanks to the dynamic innovation of its brands, the quality of its products and the effectiveness of its teams. LVMH approaches the challenges and the opportunities of 2009 with confidence and determination and has set the objective of increasing its leadership position in the worldwide luxury goods sector."
Thursday, February 5, 2009
Diamond Producers Plan Joint Marketing Campaign -Alrosa, De Beers, Harry Winston and BHP Billiton
Diamond Producers Plan Joint Marketing Campaign
-Alrosa, De Beers, Harry Winston and BHP Billiton
The Israel Diamond Portal Reported that Diamond producers Alrosa, De Beers, Harry Winston, BHP Billiton and Rio Tinto, which together control over 90% of the global diamond market, are planning a joint marketing campaign to promote demand for diamonds.
The President of Alrosa, Sergei Vybornov, stated that part of the plan is to advertise diamonds as an investment vehicle in order to boost demand.
De Beers spokesperson Lynette Gould said that the diamond producing companies will set up an SPV, SteerCom, to implement their common market strategy. Management consultants McKinsey & Co are reportedly working on the financial planning which will involve all of the production chain's links from diamond miners to cutters and jewelers.
Vybornov and Gould did not specify the amount of money to be invested in the campaign.
Sergei Goryainov estimates that an effective marketing campaign will cost around $1 billion, with most of the sum focused on advertising.
-Alrosa, De Beers, Harry Winston and BHP Billiton
The Israel Diamond Portal Reported that Diamond producers Alrosa, De Beers, Harry Winston, BHP Billiton and Rio Tinto, which together control over 90% of the global diamond market, are planning a joint marketing campaign to promote demand for diamonds.
The President of Alrosa, Sergei Vybornov, stated that part of the plan is to advertise diamonds as an investment vehicle in order to boost demand.
De Beers spokesperson Lynette Gould said that the diamond producing companies will set up an SPV, SteerCom, to implement their common market strategy. Management consultants McKinsey & Co are reportedly working on the financial planning which will involve all of the production chain's links from diamond miners to cutters and jewelers.
Vybornov and Gould did not specify the amount of money to be invested in the campaign.
Sergei Goryainov estimates that an effective marketing campaign will cost around $1 billion, with most of the sum focused on advertising.
Saturday, January 31, 2009
Jewelry Boosts Online Retail Traffic in UK
Jewelry Boosts December Online Retail Traffic in UK- 26 percent growth from November 2008
Jewelry and luxury goods helped draw internet traffic for online retailers in the United Kingdom this past Christmas. According to online research company comScore, traffic to jewelry and luxury goods sites grew 26 percent from November 2008 to 4.094 million unique visitors in December. The company did not provide comparative data for December 2007, nor did it give sales figures.
While growth in visitors to jewelry and luxury sites outpaced other retail products, it remained among the smaller categories of the top 10 tracked by comScore. Traffic to retail music sites grew 16 percent to 11.805 million visitors from November to December, while traffic to mall sites rose 16 percent to 13.689 million visitors, and flowers, gifts and greetings increased 16 percent to 5.522 million visitors. The total online retail audience remained flat at 6.6 million unique visitors in December.
Earlier, comScore reported that online sales of jewelry and watches in the United States fell 24 percent in December 2008 compared to a year earlier. Total online traffic to retail sites in the United States rose 5 percent to 180 million unique visitors during the month.
Tuesday, December 30, 2008
CM of Gujarat Refuses SOPs to Diamond Industry
CM of Gujarat Refuses SOPs to Diamond Industry Dec 29, 2008
- Says it is an unhealthy practice, Diamond Companies should look after Employees
The Economic Times reported that Gujarat Chief Minister Narendra Modi refrained from announcing any direct relief package for the troubled diamond polishing industry, addressing the diamond companies he said “You have earned enough, now give it back to your people.”
The industry, which was hoping for subsidy on power and relief package for its skilled workers, instead got a rather crisp round up on how they could help themselves. As far as the relief packages go, the CM said that he could only ‘talk to the Centre’
He said that he would provide alternative employment, training programme and relief to the affected workers directly. “We are the only state to give VAT respite to the diamond industry. And who is the biggest beneficiary of the government’s Jyotigram Yojana (24-hour electricity supply to villages)? It’s the diamond industry. The state government is ready to work as a catalyst, but it is upon the industry to get out of the trouble by modernising itself and add value to its products,” he advised.
He said sops and incentives were not the way to get out of the present crisis. Instead, the industry should sit together and discuss how to move ahead in such turbulent times.
He also suggested a common branding for the Surat diamonds, its marketing and linkage so that it could carve a place in the market. “It is for the industry to identify existing strength in linkages and branding. The government is ready to help them in human resources development and planning. We are also ready to help diamond workers get out of the trouble by absorbing jobless under the Gram Rojagar Yojana,” he said.
- Says it is an unhealthy practice, Diamond Companies should look after Employees
The Economic Times reported that Gujarat Chief Minister Narendra Modi refrained from announcing any direct relief package for the troubled diamond polishing industry, addressing the diamond companies he said “You have earned enough, now give it back to your people.”
The industry, which was hoping for subsidy on power and relief package for its skilled workers, instead got a rather crisp round up on how they could help themselves. As far as the relief packages go, the CM said that he could only ‘talk to the Centre’
He said that he would provide alternative employment, training programme and relief to the affected workers directly. “We are the only state to give VAT respite to the diamond industry. And who is the biggest beneficiary of the government’s Jyotigram Yojana (24-hour electricity supply to villages)? It’s the diamond industry. The state government is ready to work as a catalyst, but it is upon the industry to get out of the trouble by modernising itself and add value to its products,” he advised.
He said sops and incentives were not the way to get out of the present crisis. Instead, the industry should sit together and discuss how to move ahead in such turbulent times.
He also suggested a common branding for the Surat diamonds, its marketing and linkage so that it could carve a place in the market. “It is for the industry to identify existing strength in linkages and branding. The government is ready to help them in human resources development and planning. We are also ready to help diamond workers get out of the trouble by absorbing jobless under the Gram Rojagar Yojana,” he said.
E-Commerce Is Recession Proof
Most businesses would not think that customers being cheap would be a good thing for business. In most cases this is true. However, typically during a recession, people don’t stop spending, they spend smarter. This is beneficial for e-commerce websites because people believe that they get better deals online and are more likely than ever to make purchases online. This is for a few reasons.
Customers can compare prices online (make sure your prices are competitive).
They can save gas (this is actually a factor in this day and age).
Online transaction security has greatly improved recently, increasing customer trust.
Some customers feel that buying online helps save the environment.
Buying online is simply more convenient for most customers.
Product imaging has improved greatly. Customers can now view hi-res product images and videos in seconds online.
Product reviews are now prevalent online. Customers are more likely to buy a product if they can read reviews about it.
Low Overhead Costs
Cutting overhead costs is one of the first thing many businesses do to survive a recession. E-Commerce websites enjoy some of the lowest overhead costs of any business operating today. For small e-commerce businesses you are looking at very low overhead costs each month. Typically the only bills you HAVE to pay as an e-commerce merchant are:
Your internet bill - it’s fairly hard to run an online business without an internet connection.
Your electricity bill - same as above.
Your hosting bill - your e-commerce website probably needs to be online to get sales.
Any monthly fees your payment processor may charge
For many e-commerce merchants that’s it!
So don’t worry too much about cutting overhead costs. You are already enjoying some of the lowest operating costs of any business model in existence.
Customers can compare prices online (make sure your prices are competitive).
They can save gas (this is actually a factor in this day and age).
Online transaction security has greatly improved recently, increasing customer trust.
Some customers feel that buying online helps save the environment.
Buying online is simply more convenient for most customers.
Product imaging has improved greatly. Customers can now view hi-res product images and videos in seconds online.
Product reviews are now prevalent online. Customers are more likely to buy a product if they can read reviews about it.
Low Overhead Costs
Cutting overhead costs is one of the first thing many businesses do to survive a recession. E-Commerce websites enjoy some of the lowest overhead costs of any business operating today. For small e-commerce businesses you are looking at very low overhead costs each month. Typically the only bills you HAVE to pay as an e-commerce merchant are:
Your internet bill - it’s fairly hard to run an online business without an internet connection.
Your electricity bill - same as above.
Your hosting bill - your e-commerce website probably needs to be online to get sales.
Any monthly fees your payment processor may charge
For many e-commerce merchants that’s it!
So don’t worry too much about cutting overhead costs. You are already enjoying some of the lowest operating costs of any business model in existence.
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