Facing the challenge of dipping sales in the first half of 2008, Charles & Colvard is taking a close look at its resources. It has decided to shut its Hong Kong office by end-September 2008, and move the operations to its US office. All customers so far served by the HK office will be transitioned to the US base.

The US office will explore opportunities and markets in Asia. The company explained the shift as a strategy to free resources and take on new initiatives, and be empowered to cater to the customers in the region serviced by Hong Kong and around the world. Sales in the first half of 2008 have fallen by 31 percent.