×
289
Fashion Jobs
NETE.IN
CRM & Logistics Executive
Permanent · MUMBAI
FABINDIA OVERSEAS PVT. LTD.
Retail Planner
Permanent · NEW DELHI
SELECTIVE GLOBAL SEARCH PVT. LTD.
Business Development
Permanent · NEW DELHI
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · KARIMNAGAR
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · MIRYALAGUDA
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · KOTHAGUDEM
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · NAGARKURNOOL
LIFESTYLE BRANDS
Area Sales Manager Bangalore
Permanent · BENGALURU
HIRING STUDIO
Chief Financial Officer
Permanent · HOSAPETE
RJ CUBE STAFFING SOLUTIONS
Storekeeper
Permanent · DELHI
ORIENT CRAFT LTD.
Production Incharge
Permanent · NEW DELHI
GETNATTY DESIGNTECH PVT. LTD
Business Development & Sales Specialist
Permanent · MUMBAI
CONSULT IN INDIA
Area Sales Manager- (South & West Region)
Permanent · Kota
ADECCO INDIA PRIVATE LIMITED
e Commerce Executive :Garments Company:Kolkata
Permanent · Kolkata
NCDI PLACEMENT CONSULTANCY
Sales Coordinator (Male) For Leading Retail Store
Permanent · Lucknow
2COMS CONSULTING PVT LTD.
Area Sales Manager Knitwear/ Innerwear
Permanent · Mumbai
SEARCHLIGHT HR SERVICES PVT. LTD
Sales Manager- Fragrances
Permanent · Chennai
KEYSTONE CONSULTING PVT LTD
Business Development - Textile Company
Permanent · Coimbatore
JOB SEARCH
General Manager - Mumbai & Delhi Exp in Textile Testing Industry Only
Permanent · National Capital Region
CAREER CROSSWAYS
Export Marketing Manager
Permanent · Ahmedabad
TEJASWI SERVICES PVT LTD
Business Development Executive
Permanent · Mumbai
FABRIC AID INDIA PVT LTD
Accounts Manager
Permanent · National Capital Region

Jeweller Damiani sees signs of recovery, first half net jumps

By
Reuters
Published
today Nov 21, 2009
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Damiani

MILAN, Nov 21 (Reuters) - Italian jeweller Damiani (DMN.MI) has seen the first signs of recovery in demand and is confident looking ahead to the Christmas period, its chief executive said in a statement as the group reported a jump in interim profits.

The company, which promotes its jewellery with movie stars such as Brad Pitt and Sharon Stone, said on Saturday 21 November net profit for its first half ending Sept. 30 was 9.6 million euros ($14.26 million), up from 1.8 million a year ago.

Consolidated revenues, including wholesale, were down 15.8 percent at constant exchange rates to 56.3 million euros as retail sales jumped 115.6 percent to 14.7 million euros, helped by consolidation of Rocca stores.

Wholesale revenues were down 30.9 percent to 41.4 million euros.

"Despite the continuing uncertain macroeconomic environment, I am satisfied with the actions ... to reinforce our prescence in markets, segments and channels which are important for our future development," Guido Damiani, chairman and chief executive, said in the statement.

"All the above together with a constant attention to further rationalise our production costs and the first signals of recovery in demand registered in October, make me confident for the coming Christmas season," he added.

Luxury goods companies have not been immune to falling consumer demand as credit dries up from lenders hurt by the past year's global financial turmoil.

Signs of a tentative recovery in the global economy are gathering. European Central Bank President Jean-Claude Trichet said last week there was "a progressive and gradual revival of the economy," a more favourable scenario than was projected some months ago.

Damiani, which swung to a net loss of 3 million euros in its first quarter, sells the bulk of its products in Italy. Its second-largest market is Japan followed by the United States.

Sales in the U.S. fell 46 percent in the first half to 2.46 billion euros while revenues in Japan slid 40 percent to 3.31 billion euros.

Guido Damiani told Reuters in September he expected Christmas would be better this year than in 2008.

Damiani is one of Italy's largest jewellers and is bigger than France's privately-held Mauboussin. But it trails market leaders Bulgari (BULG.MI), Cartier (CFR.VX), Van Cleef & Arpels and Tiffany's (TIF.N). (Reporting by Jo Winterbottom; editing by James Jukwey)

© Thomson Reuters 2019 All rights reserved.