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US Boosted 3Q Jewelry Sales, Says Alrosa
Dec 19, 2018 9:32 AM
By Rapaport News
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RAPAPORT... Global jewelry sales increased 4% in the third quarter, driven
by growth in North America, according to market research by Alrosa.
Sales in North America rose 4% despite concerns over the
US-China trade war, the Russian miner said Wednesday.
Revenue in the Asia-Pacific region, including India and
southeast Asia, rose 3% amid a continued expansion of national retailers across
mainland China, as well as price adjustments by jewelers to offset the weaker
Chinese yuan currency and higher customs duty. However, growth slowed compared
with the 17% rise Alrosa reported for the region in the second quarter.
Sales in India decreased due to weakened consumer confidence
following recent scandals in the sector, as well as the depreciation of the
rupee. Proceeds in other countries rose 2%.
“The main driver of the global diamond-jewelry market is the
US, which has seen stable growth rates throughout the year,” said Dmitry
Klimenko, head of Alrosa’s analytics department. “This boosts market confidence
ahead of the Christmas sales season. In Asia, consumer demand shows less steady
growth because of the weakening of national currencies against the US dollar.”
Image: A woman trying on jewelry. (Shutterstock)
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Tags:
3Q Jewelry Sales, Alrosa, Dmitry Klimenko, Rapaport News
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