Posts Tagged ‘ China ’

Industry Update: Diamonds May Surpass Gold for Investing

A scattering of "brilliant" cut diam...

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According to David Parkinson of The Globe and Mail , there’s a sly little gemstone sneaking up stealthily behind gold to become the big-ticket investment grab of the year. While gold can’t seem to stay out of the headlines, diamonds have been steadily gaining Wall Street-cred in their own right.

Traditionally, diamonds and gold move in the same direction on the charts, but since the 2008 financial crisis, gold has skyrocketed thanks to its reputation as a solid way to store wealth. Diamonds, meanwhile, experienced “a recession-driven drop-off in jewellery sales” that weighed heavily on their market value. But over the course of the last year, diamonds are again trending upward as investors start to realize that diamonds may just be an even better investment than gold.

“Diamond companies look underpriced versus gold, [platinum group metals] and silver (SI-FT) stocks on a [price-to-net-present-value] basis,” wrote Edward Sterck, diamond-producer equity analyst for BMO Nesbitt Burns in London, in a recent research report.

Whether diamonds are actually a sounder investment than gold is debatable, but according to analysts “the outlook for gems looks strong on a good old fashioned supply-and-demand basis.”

Since 2006, the mining and production of diamonds has dropped off significantly. Diamond producers aren’t actively seeking new mines, or even doing much with those they’ve already established. Rather, they’re depleting the existing supply of diamonds, while a new demand lurks on the Eastern horizon.

China and India are producing a surge of new consumers eager to buy jewelry, which is viewed as a long-lasting investment especially in their cultures. According to the Globe and Mail, “Last year, diamond demand jumped 31 per cent in India and 25 per cent in China.”

Meanwhile, in the U.S., the diamond demand jumped 7% in 2010 – solidifying diamonds as a sound investment for wealth and not just the jewelry box.

To read more, visit The Globe and Mail’s website.

Liz for Raymond Lee Jewelers, your trusted source for jewelry industry updates, news and trends.

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June Hong Kong Jewellery & Gem Fair 2011: ‘Rapid Reporting’ Recap by Raymond Lee Jewelers

Raymond Lee Jewelers

‘Rapid Reporting’

Top of the morning to you, everybody. I trust that everyone has rested up and recharged their batteries, ready to dive into a paramount and productive week. 🙂

If not, please go grab yourself a nice hot cup of coffee, send me one, and let’s get to some seriously ‘Rapid Reporting‘ of the June Hong Kong Jewellery & Gem Fair 2011 recap.

Hong Kong Jewellery and Gem Fair 2011

On the final day of The June Hong Kong Jewellery & Gem Fair, one of the top three jewellery shows in Asia, held at the Hong Kong Convention and Exhibition Center, had already been attended by 19, 968 visitors.  According to JewelleryNetAsia.com, the number of both unique and return attendees to this years June Hong Kong Jewellery & Gem Fair had shown an increase of 21.5%, compared to the statistics of last June.

From the first day of registration, where overwhelming lines and unexpected spikes in visitors surprised event coordinators, a foreshadowing of one of the most successful years for the Jewellery & Gem Fair was underway. On the first day of the fair, June 23rd, the Antique Jewelry Hall required an additional floor of exhibitor space to accommodate the heightened intrigue with antique jewelry.

By the time press releases from Asia could be found online, initial reports related to the jewelry fair were enthusiastically announcing the June Hong Kong Jewellery & Gem Fair 2011 had opened to a record breaking turnout of buyers, exhibitors and enthusiasts.

HONG KONG, June 23, 2011 /PRNewswire-Asia/ — June Hong Kong Jewellery & Gem Fair 2011

Jime Essink, President and CEO of UBM Asia said: “We are delighted that the June Hong Kong Jewellery & Gem Fair hits a new record high of 1,600 exhibitors this year, a 25% rise on 2010. This further confirms that jewellers around the world recognise the value of joining the June Fair.”

Celine Lau, Director of Jewellery Fairs, UBM Asia Ltd said: “The June Fair is an important event in the trade show calendar. To mitigate the risk of holding too much stock, buyers prefer to make more frequent sourcing trips. This propels the growth of the June Fair which presents buyers with the opportunity to source from quality suppliers from around the world every mid-year.”

Over 60% of those attending the Jewellery & Gem Fair in Hong Kong traveled from overseas, just as Raymond Lee Jewelers did. The June Hong Kong Jewellery & Gem Fair 2011 attracted more than 1,596 companies from around the world, with 19,968 visitors from 102 countries and regions having visited the fair before the final day had commenced. The top five of those visiting countries include China, India, Taiwan, Philippines and Thailand.

Statistics Provided by JewelleryNetAsia.com

Numbers of Visitors as Reported by the June Hong Kong Jewellery & Gem Fair:

  • Day one: 9, 835
  • Day two: 5, 771
  • Day three: 4, 362

Cartier Hong Kong

 In addition to the incredible turnout of the June Hong Kong Jewellery & Gem Fair, the trip of our President and VP to Asia proved to include a surprise set of front row seats of the strengthening overseas economy. Just as the diamonds, pearls and gemstones from all over the world were illuminating the streets of Hong Kong for the Jewellery & Gem Fair, the prevalent and increasing use of the euro as currency seemed to shed a bright light on the dedication of  both China and Japan, Asia’s first and second largest economy and foreign exchange reserves powers, to bring financial stability to Europe.

As China’s most valuable economic partner, Europe is being strongly supported in Asian markets. Several reports have been published recently by French media outlets, confirming that the Chinese have taken several different actions which show their support and dedication to the financial recovery of Europe.

Japanese Finance Minister Yoshihiko Noda 21, also said it would continue through the purchase by the European Financial Stability Fund bonds, etc., to help Europe deal with the debt crisis.

Having traveled from The States, where citizens have spent the past few years fighting a seemingly endless battle for survival through grave economic uncertainties, the scenery of Hong Kong was something so far from the picture of pinching pennies. In the photographs my boss was able to send, it is clear to see upon first glance the current state of world economy, captured in the images of consumers in Hong Kong.

Locals of Hong Kong, and those who traveled from China’s mainland in avoidance of the sales tax, formed lines which wrapped around the block, eagerly awaiting to enter the retail priced storefronts of such names as Cartier, Chanel and Gucci. Business was booming, and not just at The June Hong Kong Jewellery & Gem Fair… Business in Hong Kong seems to be booming everywhere!

Louis Vuitton Hong Kong

Canadian Couple Charged with Fraud: Raymond Lee Jewelers

Raymond Lee Jewelers

Click here for Raymond Lee Jewelers

A Canadian couple has been charged in a counterfeit Tiffany and Company scam, December 2010. The woman in the couple is facing several charges for smuggling fake Tiffany jewelry from China. She sold the jewelry to private parties, online, and in mall kiosks. Little Blue Box was the name she used for her “company.”

Her husband was also arrested and facing charges, too. They were trying to sell their fake jewelry on Ebay as well as private parties, online, and in mall kiosks. Tiffany and Co. came up with a lawsuit against Ebay for allowing this couple to sell fake jewelry posing as Tiffany jewelry. The court ruled in Ebay’s favor. Investigator’s think over 1,500 people purchased jewelry from these frauds thinking it was real. Want to purchase real Tiffany and Co. items? Come into Raymond Lee Jewelers today!

By: Jaimee at Raymond Lee Jewelers

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President Obama’s Watches: Part 2- Jewelry Appraisal

Jewelry Appraisal

Jewelry Appraisal

This is part two of a series of posts on President Obama’s watches, click here if you want to be directed to part one.

In late 2007 while on the tail end of his campaign for Presidency of the United States, Obama’s Secret Service Service detail presented him with a watch for his 46th birthday. This special watch was purchased by the agents in the Secret Service employee’s store which is unavailable to the public. This watch replaced Obama’s TAG which he wore daily. For his inauguration many suspected Obama would either wear the TAG Heur or a new higher end watch, instead he proudly wore his Secret Service watch and honored the men that continually put their lives on the line for him. Jewelry Appraisal.

The watch is made by Jorg Gray and features a very large,  stainless steel and 47mm case. The dial is a rich black with three chronograph features and a date window. Interestingly the watch is made in China with the movement made in Japan. The watch sells in the employee store for $210. You are able to get this same watch straight from Jorg Gray with the model number JGC6500 but without the Secret Service insignia. Although some watches with the insignia are floating around online for much higher prices.

Jorg Gray has capitalized on this free publicity and has released the JGC6500 commemorative edition with a special engraving on the back of the case. The engraving stats, “The 44th President of the United States Barack H. Obama” and has the date of his inauguration. The watch is so popular that Jorg Gray has been able to open 60 authorized dealers and is enjoying brisk sales.

-Carlos at Raymond Lee Jewelers

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Hublot Rushes to Meet China Luxury Boom- Watch Sell

Watch Sell

Watch Sell

I have written about Hublot (Big Bang Tutti Frutti) and china’s luxury watch boom in the past. The Swiss watch brand has been vigorously expanding its presence in the emerging Asian markets and is especially focused on China. In the past three years China and Hong Kong have surpassed all other markets to become the largest market for luxury watches. Naturally luxury brands, who have seen sales decline in Europe and America due to the global recession, are rushing to meet this new demand in the far East.

Hublot, which will have 15 stores in Asia by next year hopes to more than double that number. Much of this enthusiasm is coming from Hublot’s CEO Jean-Claude Biver, who is convinced that future profits will grow for the next 30 years, especially in China. Businesses across the world are flocking to Asia, China and Hong Kong and creating a rash of new millionaires in the process. Millionaires in Asia are expected to rise 8.8 percent annually through 2018. Japan and Europe are being swept by trends that embrace a less lavish lifestyle and Hublot views Asia as an oasis in the stagnating market. Sell watches.

There are some signs that Hublot may be taking a risk by betting on the Asian market. China economy has gone through explosive growth the past 10 years but will likely slow to 8.9 percent next year from 10 percent this year. Other luxury watch brands are not as optimistic as Hublot and are refraining from adding new stores in China till they are sure that this is not a “bubble.”

With the average cost of opening a store in China much cheaper than opening one in more traditional locations such as Paris and New York , Hublot is willing to take the risk. China rent rates hover around $100,000 a year compared to the outrageous price of more than $1 million in Paris.

We here at Raymond Lee Jewelers have many beautiful Hublot timepieces available at amazing prices.

-Carlos at Raymond Lee Jewelers


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Florida Diamond: CEO of De Beers Stepping Down

Florida Diamond

Florida Diamond

Florida Diamond News July 24th:

It has been noted recently that the Chief Executive Officer of giant diamond supplier De Beers is going to leave the company.  This will end a five year reign at the helm of the worlds most powerful companies.  Mr. Penny had to navigate the company through an economic recession that rocked the world’s business of luxury (and diamonds).

Surprisingly, this years financial data is more positive than expected.  The first half of this year, which ended on June 30th, saw a 74.1% jump in sales to almost $3 billion.  Noted was the increase in production in both China and India.  Much of the credit was given to Penny for this great half.

Penny worked at De Beers for 22 years.  All rumors about Penny point to him being a great leader and CEO.   He  helped bring them out of the toughest global economic recession in years.  It has not been decided who will replace Penny for the long term, however in the short term the CFO and CCO will act as a pair of CEO’s.

by Seth at Raymond Lee Jewelers

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China’s Luxury Watch Boom

Jaeger-Lecoultre watch

Jaeger-Lecoultre Watch

Many of you may have heard of China’s economic boom but you may not have heard of China’s growing appetite for luxury watches. The world’s top watch makers are rushing to China to meet the heavy demand. Currently China ranks fifth in the world’s top markets for luxury watches and is moving up fast. Here is a run down of how these makers performed in China the last fiscal year.

Piaget: Piaget has had an excellent performance and higher then expected sales. In fact more than 60 percent of its total sales were in the Asia-Pacific region. Piaget currently has 13 boutiques in China and plans on opening more.

Cartier: Cartier was flush with new business last year, with nearly a double digit growth in the Asia-Pacific region. Cartier is embracing this new market with open arms and open boutiques (31 boutiques in China)!

Montblanc: Montblanc’s sales declined 6 percent.  This may sound like bad news but Montblanc is fairing pretty well considering the lower demand in American and European markets. Montblanc currently only has 33 percent of its sales in the Asia-Pacific region and is rushing to enlarge this percentage.

Jaeger-LeCoultre: This watch maker has 50 percent of its sales in Europe and has largely ignored the Asia-Pacific. Results: sales and profit decline.

As of now, the number of boutiques a brand has in China the more success it had last year.

-Carlos at Raymond Lee Jewelers

One of South Florida’s largest watch sellers.

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