The Consumer Price index (CPI) will rise by 2 percent year-on-year in 2022

The national consumer Price index (CPI) rose 1.8 percent year on year in December 2022, according to the National Bureau of Statistics. Food prices rose by 4.8 percent and non-food prices by 1.1 percent. Prices for consumer goods and services rose 2.6 percent and 0.6 percent, respectively.

In 2022, China's consumer price index rose by 2.0 percent year-on-year. Food prices rose by 2.8% and non-food prices by 1.8%. Prices for consumer goods rose 2.7 percent and those for services 0.8 percent.

Jewelry jade jewelry National Inspection Group and Teli Group reached a strategic cooperation

Recently, in order to thoroughly implement the spirit of the 20th Party Congress, promote the implementation of the Outline of the Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area, and promote the development of the jade jewelry industry, Jewelry and jade jewelry National Inspection Group and Shenzhen Jewelry Industry Service Co., LTD. (Terli Group) signed a strategic cooperation framework agreement in Shenzhen. According to the agreement, the two sides will establish a long-term, stable, mutually beneficial and win-win strategic cooperative relationship, jointly build Shenzhen second-hand jewelry trading platform, jointly build Shenzhen International gold and jewelry brand Center, jointly carry out online and offline trade exhibitions and exchange activities, jointly carry out multi-level and multi-field cooperation in jewelry and jade standards, supervision and traceability, price evaluation, price index and so on. Jointly promote the high-quality development of jewelry and jade industry.

Luofook Group expanded 106 stores in the fourth quarter

Recently, Luofoku Group announced retail sales data for the quarter ended December 31, 2022. During the reporting period, the Group's overall like-for-like sales were down 10% year-on-year, with gold products down 5% year-on-year and priced jewellery down 21% year-on-year.

Same-store sales at mainland stores were down 35 per cent year-on-year, with gold products down 33 per cent and priced jewellery down 38 per cent. E-commerce sales were down 2 percent year-on-year, with gold products up 1 percent and priced jewelry down 20 percent.

Same-store sales in Hong Kong and Macau were down 8 per cent year-on-year, with gold products down 1 per cent and priced jewellery down 23 per cent.

By the end of 2022, the Group's total number of stores in the mainland reached 2,999, a net increase of 106 compared with the beginning of the quarter, including a net increase of 111 franchised stores; The total number of stores worldwide reached 3,072, a net increase of 106 from the beginning of the quarter.

Zhou actively promotes IP(intellectual property) cooperation

Recently, Zhou Dashheng responded to the investor research activities on IP(intellectual property rights, the same below) cooperation, Mosaic product sales, gold product delivery channels, e-commerce business and other issues.

In terms of IP cooperation, the company has currently cooperated with IP products including Van Gogh, National Treasure, "HELLO KITTY", Pokemon, Tuzki, Potala Palace, Putuo Mountain, etc. In 2023, Monet IP products will be added.

In terms of market prospects for Mosaic products, the company said that with the release of wedding demand and the orderly recovery of economic activities in 2023, the sales of Mosaic products are expected to improve.

The shipping channels of gold products are mainly divided into three categories: designated suppliers, regional gold exhibition and own gold exhibition hall. At present, the shipments of designated suppliers account for more than half, and the shipments of own gold exhibition hall gradually increase.

In terms of e-commerce business, the company has achieved full coverage of all mainstream e-commerce platforms, and the customer unit price of online gold products will increase in 2022. In terms of strategy, the company has deployed differentiated stores for different online channels, and differentiated business categories and target customer groups.

International Trends

The head of De Beers' North American brand is stepping down

De Beers announced that Charles Stanley, President of the Group's North American brands, will retire at the end of January after 12 years in office. Celine Assimon, CEO of the jewelry Retail division and Timeless Imprint, will assume the role on an interim basis until the group officially appoints the next person.

Louis Vuitton Group (LVMH) Watch Week 2023 opens

January 10-12, the 4th Louis Vuitton Group (LVMH, the same below) watch Week held in Singapore, the group's Bulgari, Hublot, Tag Heur and Zhenlishi four major brands focused on their new series of watch products.

Tiffany will be fully integrated into LVMH's watch and jewelry division

Louis Vuitton has announced that after a two-year integration period, Tiffany will be integrated into the watch and jewelry division of the group on February 1, under the overall leadership of Stephane Bianchi, Chairman and CEO of the division. Since its acquisition by LVMH, Tiffany has remained relatively independent and reports directly to Chairman and CEO Bernard Arnault.

Titan's fourth-quarter performance rose on strong holiday sales

Recently, Indian jewelry retailer "Titan" company announced its results for the quarter ended December 31, 2022. Due to the demand for jewelry in India driven by Diwali festival and wedding season, the total sales volume of the company increased by 12% year-on-year during the reporting period, and the sales volume of jewelry increased by 11% year-on-year. The growth rate of inset jewelry was slightly higher than that of pure gold jewelry, and the growth rate of marriage jewelry was basically consistent with the total growth rate of jewelry. Watch and wearables sales rose 14 per cent year on year.

India's jewellery industry has called for a cut in diamond-related trade taxes

The Indian jewellery industry has appealed to the government to reduce diamond-related trade tax rates to enhance the overall competitiveness of the diamond industry and diamond processing industry in India, said Vipur Shah, chairman of the Gem and Jewellery Export Promotion Council of India (GJEPC). The proposals include eliminating import duties on cultivated diamond seed, further relaxing the duty-free import of rough diamonds and lowering the import duty on finished diamonds from 5% to 2.5%.

Weekly trend of raw material prices

Special notes:

1. The data is from Shanghai Gold Exchange;

2. The data on January 13 is the closing price at 15:30 on that day.

3. The prices of gold, silver and platinum correspond to the transaction data of Au99.99, Ag(T+D) and Pt99.95 respectively.

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