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Alrosa Upbeat on 1Q Diamond Retail Market
Jun 24, 2018 5:39 AM
By Rapaport News
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RAPAPORT... Diamond-jewelry sales grew 7% in the main retail markets
during the first quarter amid strong consumer sentiment and beneficial fluctuations
in exchange rates, according to Alrosa.
Revenues increased 5% year on year in the US and Canada, the
largest consumer market, the Russian miner said Friday. Sales in the
Asia-Pacific region jumped 11%, with strong growth in mainland China, Hong Kong
and South Korea — the last two due to a rise in tourist numbers. Japan saw a 7%
improvement in dollar terms as the weaker yen attracted an influx of Chinese
shoppers, Alrosa explained.
Sales in India were stable as improvements at large
retailers offset a weaker performance by small chains and independents. In
Europe, revenues climbed 14%, buoyed by the relative strength of the euro
against the dollar during the quarter, Alrosa said.
The global luxury market grew 13% during the period, the report continued. Asia Pacific
led the increases with a 20% rise, followed by Europe at 18%, the producer
added.
Alrosa based its data on figures from retailers and national statistics, it said.
Image: Hadrian/Shutterstock
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Tags:
Alrosa, asia pacific, Asia-Pacific, Canada, China, Consumer sentiment, currency, Europe, Hong Kong, Japan, Jewelry, Rapaport News, retail, Russia, South Korea, US
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