International News
Swarovski Names Kolja Kiofsky as Chief Commercial Officer, Effective January 2026
Swarovski has announced the promotion of Kolja Kiofsky to Chief Commercial Officer, effective January 2026. Currently serving as General Manager of North America, Kiofsky will take over from Michele Molon, who is set to depart in July 2025 for a new opportunity.
In his new role, Kiofsky will lead Swarovski’s global commercial operations, overseeing omni-channel strategy, global sales, commercial architecture, and real estate. He will relocate from New York to the company’s corporate headquarters in Männedorf, Switzerland, and report directly to CEO Alexis Nasard.
“Kolja Kiofsky’s promotion to chief commercial officer marks an exciting new chapter for Swarovski. Kolja’s leadership and strategic vision have been pivotal in driving growth and transformation in North America,” said Nasard.
“At the same time, Swarovski extends its heartfelt gratitude to Michele Molon for his outstanding contributions and dedication to our company and brand. Michele leaves with a strong business and organizational legacy.”
Until Kiofsky assumes the role in January, Ilse Roeffen, Head of Emerging Markets and Businesses, will serve as interim Chief Commercial Officer.
Reacting to the announcement, Kiofsky said, “I’m incredibly honored and excited to step into the role of chief commercial officer after 15 amazing years with Swarovski. This company has been a huge part of my professional journey, and I’m proud to have the opportunity to contribute to its legacy of innovation, craftsmanship and excellence. I want to extend my sincere gratitude to Michele Molon who has been not only a brilliant leader but also a true partner and mentor throughout the years. I look forward to building on the strong foundation he laid and driving our commercial strategy into its next phase.”
The promotion comes as Swarovski reported a 6% increase in revenue in 2024, reaching €1.906 billion—signaling strong momentum for the heritage crystal brand.
International News
MCX Gold, Silver Rise Despite Global Weakness; US Data, Iran Tensions Keep Bullion Markets On Edge
While Domestic Gold and Silver Prices Edged Higher On MCX, International Spot Gold Slipped Amid Uncertainty Over US-Iran Negotiations, Inflation Concerns
Gold and silver prices witnessed mixed momentum on May 28, with domestic futures on the Multi Commodity Exchange (MCX) trading marginally higher even as international spot gold prices remained under pressure. The divergence reflects cautious investor sentiment amid ongoing geopolitical tensions, uncertainty surrounding US-Iran peace negotiations, and expectations of tighter monetary policy in the United States.
MCX gold futures for June delivery rose modestly by Rs. 215 to Rs. 1,57,898 per 10 grams, while silver futures for July delivery gained Rs. 2,000 to trade at Rs. 2,72,628 per kilogram in early trade. The domestic uptick was supported by weakness in the US dollar and cautious positioning ahead of key macroeconomic developments.
However, global spot gold prices extended losses for a second consecutive session as investors remained wary of the inflationary impact of elevated energy prices and the possibility of prolonged geopolitical instability in the Middle East. Analysts noted that fading hopes of a near-term diplomatic breakthrough between the US and Iran have revived concerns around oil supply disruptions, higher crude prices, and inflation risks — factors that continue to influence precious metals.
According to market experts, gold has struggled to regain strong upside momentum despite its safe-haven appeal, as rising US bond yields and a firmer dollar have reduced investor appetite for non-yielding assets like bullion. Silver, meanwhile, remained under pressure globally after recent military developments in southern Iran weakened expectations of an immediate resolution to regional tensions.
Investors are now closely watching key US macroeconomic indicators, including ADP employment figures, GDP growth data, and the Personal Consumption Expenditures (PCE) inflation index — the Federal Reserve’s preferred inflation gauge. These data points are expected to offer fresh direction on the Fed’s interest rate trajectory, which remains a crucial driver for gold and silver prices.
With geopolitical risks still elevated and inflation concerns persisting, bullion markets are expected to remain volatile in the near term as traders await clearer signals on both diplomacy and monetary policy.
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