International News
Bvlgari celebrates the Year of the Horse with a festive collection inspired by courage and renewal
Bvlgari ushers in the Chinese Lunar New Year with a creatively rich celebration that pays tribute to the Year of the Horse, a symbol of courage, freedom, vitality and forward motion. Embracing the spirit of renewal and togetherness, the Roman Maison unveils a series of striking jewellery creations and accessories that reinterpret its iconic codes through festive symbolism and auspicious hues.
At the heart of the collection is a Special Edition Horse Brooch inspired by a heritage design from the 1970s. Crafted in yellow gold, the brooch took over 130 hours of design and 50 hours of meticulous goldsmithing. Set with more than 40 cabochon rubies, pavé diamonds and black onyx inserts, the piece channels the bold energy of the Horse, symbolising strength, success and auspicious new beginnings.
Bvlgari’s signature Serpenti motif also takes on a celebratory expression for the season. The Serpenti Viper features ruby accents symbolising prosperity and good fortune, with hypnotic scales rendered in warm rose gold. The design is expressed through a rose gold necklace with a twisted pendant and a single-coil bangle bracelet, conveying themes of transformation and empowered elegance.



Further enhancing the festive offering, the Serpenti Pallini necklace in rose gold showcases the Maison’s signature soldered gold boules inspired by its 1950s artisanal heritage. The piece is adorned with pavé diamonds and rubies on the head and tail, complemented by striking black onyx eyes.
Exclusively created for Greater China, the limited-edition Bvlgari jewellery set combines yellow and rose gold with carnelian and mother-of-pearl inserts. Illuminating the iconic double logo with a festive touch, the selection includes a chain necklace with a round pendant, a wire bracelet, a single stud earring designed for versatile styling, and a soft rose gold bracelet featuring a reversible flip-disc.
Completing the Lunar New Year story are refined leather accessories, including the heart-shaped Serpenti Cuore 1968 bag reimagined in luminous Light Amethyst calf leather with a sinuous metallic snake handle. The Serpenti Cuoricino also makes its debut as a jewel-like miniature in vibrant Royal Ruby and delicate Dusty Pink calf leather, offering a precious companion for festive celebrations and the year ahead.
International News
Gemfields revenue down 32% in 2025 revenue
Revenue plunges as ruby and emerald demand weakens amid operational disruptions
Colored precious stones miner Gemfields reported a 32% drop in 2025 revenue to $135.1 million as operational disruptions and weak demand for rubies and emeralds weighed on performance.
The company said EBITDA fell 85% to $6.2 million from $43.2 million, reflecting reduced production, fewer auctions and softer market conditions. Seven auctions generated $129 million during the year, as limited gemstone availability and uneven demand offset resilient pricing at the high end.
Operations at its Montepuez ruby mine in Mozambique were hit by persistently low recovery of premium rubies and rising illegal mining activity. Two police officers were killed in October when illegal miners stormed the site. The company also flagged delays to its new $70 million processing plant, with commissioning now expected to run well into the first half of 2026, constraining near-term output despite production beginning in September 2025.
On the plus side, Gemfields said it had cut group operating costs by 17%. It also sold the iconic Faberge brand for $50 million to reduce mounting debts and raise working capital for expansion projects.
At the Kagem emerald mine in Zambia, Gemfields suspended mining from January to May in response to weak auction results, softer global demand, particularly in China, and oversupply from a competing Zambian producer.
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