“After talking with our prospects and group, we realised so many of us have pieces gathering dust in our jewelry packing containers, and we needed to supply a sustainable resolution to this. This is how the second life service was born,” says co-founder Jessica Warch. Demand for gold jewellery in 2023 dropped by 6% to 562.three tonnes compared with 2022, WGC data launched on Wednesday confirmed. The year, nonetheless, saw an enchancment in gold funding demand, which increased by 7% to 185.2 tonnes, as consumers saw an funding alternative within the uptrend in costs. Interestingly, many of the retailers who consider there is nonetheless room for more gold jewelry stores are in high-tier cities the place competitors is fierce. This is likely driven by retailers’ optimistic expectations of financial progress in high-tier cities in addition to the fierce competitors itself, which continuously weeds out poorly performing retailers and leaves opportunities for upcomers.

  • Experts said this ruling will cut back the GST payable on resale of second-hand jewellery.
  • With the 2 juggernauts headed for the courtroom, it seemed all hope was lost; but just six weeks later, with similar statements, LVMH and Tiffany & Co. announced that they’d referred to as off the lawsuit and reached a new deal.
  • We imagine that a wholesome and sustainable jewellery market ought to offer shoppers plentiful product choices and high pricing transparency.
  • ALROSA has launched a model new section of its digital and operational transformation to improve the efficiency of its manufacturing assets.