Diamond News
Current status of the market – October 2024
The Diamond Loupe
English
Current status of the market – October 2024
In light of the current market challenges, it is essential to conduct regular check-ins to stay informed about ongoing developments. Today, we share insights from Lukfook and LVMH .
The Hong Kong-based jewellery retailer Lukfook reports that in Q2, retail sales value fell by 16% year-on-year due to high gold pricing and lower consumer demand. They also see that consumers are drawn more to gold and platinum (79%) than to fixed price jewellery (21%). This means that people are not as interested in buying diamonds and fixed-price jewellery anymore.
