International jewelry market update – China and US down, India grew
• We have observed that economic growth (affecting actual spending power and consumer confidence) had a significant impact on retail jewelry sales in major global markets, including China and India.• In the U.S. market specifically, despite favorable GDP growth, retail jewelry sales have been affected, possibly due to uneven wealth distribution and/or economic growth not being driven by consumer spending.
• Based on the latest financial performance data, the operational efficiency of all companies have been impacted by gold prices (except for Pandora).
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