'Good as gold' not good enough: New labels promote ethical metal

Business Apr 21, 2019

'Good as gold' not good enough: New labels promote ethical metal

Forget how many carats — how ethical is your gold? As high-end consumers demand to know the origin of their treasures, some jewelers are ensuring they use responsibly sourced, eco-friendly or recycled gold. Specialized producers now tack a "fairmined" ecologically friendly label on their output, ...

LMVH profit jumps as Japan, Europe join China luxury rebound

Business / Corporate Jul 27, 2017

LMVH profit jumps as Japan, Europe join China luxury rebound

LVMH's first-half profit grew at the fastest rate since 2011 as Japan and Europe joined a luxury industry recovery led by China, showing double-digit sales increases in the second quarter. The world's biggest luxury-goods company said Japan was boosted by promotional activity like staging Louis ...

World's last wild frankincense forests are under threat

World Dec 25, 2016

World's last wild frankincense forests are under threat

In a tradition dating to Biblical times, men rise at dawn in the rugged Cal Madow mountains of Somaliland in the Horn of Africa to scale rocky outcrops in search of the prized sap of wild frankincense trees. Bracing against high winds, Musse Ismail Hassan ...

Record crushed, diamond intact: 'Oppenheimer Blue' draws $58M

World May 19, 2016

Record crushed, diamond intact: 'Oppenheimer Blue' draws $58M

The "Oppenheimer Blue" diamond sold Wednesday for more than 56.8 million Swiss francs ($57.6 million) including fees, crushing the previous record for the most expensive diamond ever sold at auction. Capping a lively and even laughter-filled auction at Christie's, the hammer came down to applause ...

World Nov 19, 2015

Small Canadian firm finds second-biggest gem-quality diamond ever

A small Canadian diamond company has found what it says is the world's second-biggest gem-quality diamond ever recovered, and the largest in more than a century, at its mine in Botswana. Lucara Diamond Corp. said on Wednesday the 1,111-carat stone was found at its Karowe ...

Business Oct 29, 2015

Chinese luxury shopping undeterred by economic jitters

A study shows that wealthy Chinese remain the No. 1 buyers of luxury products worldwide, inured to economic turmoil at home as they zigzag the globe in search of deals on everything from handbags to jewelry. The study by Bain & Company consultancy released Thursday ...

Made in North Korea: goods store opens to brisk business in Seoul

Business Aug 7, 2015

Made in North Korea: goods store opens to brisk business in Seoul

A shop in South Korea's capital specializing in goods made in the North has run nearly $140,000 through its tills in just three months of business, helping dispel the notion that products from the impoverished state are shoddy and undesirable. The Kaesong Industrial Complex Shop ...

Slowboat to China: No quick fix for luxury yacht firm Ferretti

Business Jun 29, 2015

Slowboat to China: No quick fix for luxury yacht firm Ferretti

When Chinese industrial conglomerate Weichai Group snapped up cash-strapped Italian luxury yacht builder Ferretti in 2012, the deal looked like a match made in heaven. Debt-laden Ferretti, known for the elegant Riva speedboats favoured by film star Sophia Loren, was the world's top maker of ...