Signet Jewelers conduct a test run to verify the diamond technology that will enable customers to keep track of the stones, which they acquire from this retailer. The company decided to use the technology after allegations of diamond substitution, voiced earlier this year.
The new technology will enable customers to learn about diamonds defects. Signet will test it from November to January in the Kay Jewelers stores.
Every diamond has its own "fingerprint" and unique features, said during the announcement of financial results of the second quarter Mark Layt (Mark Light), Chief Executive Officer of Signet. "We will mark the data features on digital media, and then be able to send this picture by e-mail clients," - he continues.
Due to this, as suggested by Light, yet greater transparency will be ensured for the company's clients.
Signet share price fell by 20% after allegations of diamond replacement, the company transferred to the restoration, at a lower quality. This was in May, he told BuzzFeed portal. The Signet denied systematic substitution and noted that such cases were extremely rare. In this case, the problem was solved quickly and in an appropriate manner.
The situation with the negative reviews about the company, including on social networks, in July and August, normalized, made Light.
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Quarterly same-store sales of jewelry retailer Chow Tai Fook in China and Hong Kong fell due to negative consumer sentiment and due to the slowdown in the region's economy, according to Rapaport portal.
Revenues from comparable sales Chow Tai Fook in the fourth quarter of the fiscal year ended March 31 fell by 26%, and the total volume of sales also decreased by 26%.
In China, comparable sales Chow Tai Fook fell 25% compared with a fall of 6% in the previous three months. This is due to the preferences of buyers who wanted to buy jewelery in the foreign markets.
In Hong Kong and Macao, comparable sales were down 27% compared with a fall of 23% in the previous quarter as fewer tourists from the mainland visited Hong Kong on the background of the deterioration of local consumer sentiment.
Sales of jewelry with precious stones have fallen by 23%, while sales of gold fell by 27%.
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