Latest news with #LaoFengXiang
Time of India
16-06-2025
- Business
- Time of India
Export of natural diamonds may see turnaround as China reignites demand
Indian diamond exporters are hopeful of a rebound in Chinese demand after three years of decline as top jewellery retailers in China have rolled out a buyback programme to rekindle interest in natural diamonds. Retailers like Chow Tai Fook, Lao Feng Xiang, Chow Sang Sang, Luk Fook, Chow Tai Seng, and Qeelin introduced the buyback offer last month, leading to a spike in queries. "The buyback scheme has created positive sentiment among the Chinese diamond buyers and queries have gradually started coming in," said Sabyasachi Ray, executive director of Gem & Jewellery Export Promotion Council (GJEPC). Indian cut and polished diamond exports to China have halved in the last three years to $3.28 billion in 2024-25 from $6.55 billion in 2021-22 as consumers there moved away from diamond to gold as a safe haven. China is the second largest consumer of diamonds from India after the US. Indian trade executives expect renewed diamond sale in China from September as June to August are traditionally dull months. Live Events "Now that the buyback scheme has been introduced for diamonds like gold, we expect diamond demand from China will pick up from September onwards," said Colin Shah, managing director of Kama Jewellery, a leading diamond jewellery manufacturer and exporter. China has been facing economic challenges with poor consumer spending since the Covid-19 pandemic. "China's economy is facing significant headwinds, including a real estate slump, slow consumer spending, and the ongoing impact of trade tensions with the US," Shah said. "All these have impacted natural diamond consumption in the country." Increasing popularity of lab-grown diamonds - which are significantly cheaper than natural diamonds - among young Chinese consumers has also dented the demand for natural diamonds, trade insiders said.
South China Morning Post
12-06-2025
- Business
- South China Morning Post
ByteDance helps jewellery firm Lao Feng Xiang push AI glasses to China's elderly
Advertisement Lao Feng Xiang debuted their initial line of wearable gadgets at Wednesday's opening of the International Exhibition of Senior Care, Rehabilitation Medicine and Healthcare, the world's biggest senior care expo, that is being held in the company's home city of Shanghai until Friday. Powered by ByteDance's AI model Doubao , Lao Feng Xiang's hi-tech eyewear – marketed on the mainland as a 'smart assistant' for the elderly – can help translate menus, interpret instructions about medication and chat with users, according to Wednesday's WeChat post by the jewellery store chain operator. 'In the future, Lao Feng Xiang will continue to plough resources into the field of science and technology for the silver economy,' company chairman Yang Yi said at the Shanghai expo. The so-called silver economy refers to a new market that serves the needs of the country's rapidly ageing population. The company's foray into smart glasses reflects a surge of fresh interest in this wearables segment on the mainland, as new capabilities are made possible by AI to cater to the country's greying population. Lao Feng Xiang chairman Yang Yi, right, tries on a pair of the company's new line of smart glasses powered by ByteDance's artificial intelligence technology. Photo: Handout Yang said Lao Feng Xiang would continue to optimise its new products and cater to 'more consumers'.
Yahoo
28-01-2025
- Entertainment
- Yahoo
Symphony of Sparkles: The HKTDC Twin Jewellery Shows Are Set to Open in March 2025
HONG KONG, January 28, 2025--(BUSINESS WIRE)--Organised by the Hong Kong Trade Development Council (HKTDC), the 41st HKTDC Hong Kong International Jewellery Show and the 11th HKTDC Hong Kong International Diamond, Gem & Pearl Show, will return in March 2025 at the Hong Kong Convention and Exhibition Centre and AsiaWorld-Expo respectively. Under the theme Symphony of Sparkles, the twin jewellery shows are expected to gather over 4,000 exhibitors globally, showcasing finished jewellery, loose stones and raw materials. Physical Fair Click2Match HKTDC Hong Kong International Jewellery Show 4 – 8 March 2025 at HKCEC 23 February to 13 March 2025 HKTDC Hong Kong International Diamond, Gem and Pearl Show 2 – 6 March 2025 at AsiaWorld-Expo The Hong Kong International Jewellery Show will feature themed zones including the Hall of Extraordinary and Hall of Fame. The Hall of Extraordinary will showcase high-end collections mounted with stunning diamonds, precious stones, jadeite and pearls from renowned exhibitors like Dehres, On Tung and Lili Jewelry. The Hall of Fame will feature a remarkable line-up of international brands such as Giorgio Visconti from Italy, Lao Feng Xiang from Mainland China and Cheté from Hong Kong. Besides the acclaimed zones, a brand new product zone: Gold Jewellery will debut with innovative designs and exquisite craftsmanship in gold pieces. Building on this spirit of creativity, the Hong Kong Jewellery Design Competition invites design talents to explore the theme of Lasting Brilliance. The creations are expected to captivate and inspire admiration through their radiance and splendour, transcending the passage of time. The award presentation ceremony will take place at the International Jewellery Show, where the winning pieces will be showcased. Meanwhile, the Hong Kong International Diamond, Gem & Pearl Show will feature exceptional selections of diamonds, pearls and quality gemstones, alongside raw materials for jewellery from various origins. The Hall of Fine Diamonds will present huge carat-sized diamonds, Treasures of Nature will showcase stunning collections of rubies, emeralds and sapphires, and Treasures of Ocean will enchant the buyers with natural sea pearls. The shows will also deliver an all-rounded programme with jewellery parades, seminars, buyer forums and networking events that bring trending market intelligence to industry players. Website for Marketplace Apphttps:// Fair WebsitesHK International Jewellery Show: HK International Diamond, Gem & Pearl Show: View source version on Contacts Media enquiries: HKTDC's Exhibitions Department:Ken TsangTel: (852) 2240 4136Email: Sign in to access your portfolio
