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Russia
By Svetlana Shelest
As of December, Russia’s top diamond miner ALROSA announced a handful of initiatives to drive both the company’s and the diamond pipeline’s development in the near future. As ALROSA Vice-President Yury Okoemov stated in October via the company’s corporate magazine, the miner is currently working on a marketing policy for the coming three-year sales period. Although Okoemov did not share any particulars at the time, further announcements from the company have disclosed more details.
On November 10, ALROSA President Andrey Zharkov was reported to have signed an implementation plan for the investment diamond project that had been announced earlier this year. The company confirmed in a press release that it started generating the stock of investment diamonds for future trading on October 1. The miner is planning to present the project to the public in March 2017 and to begin retail auctioning of diamonds in 2018. According to Zharkov, “The main goals of the project are to support domestic cutters and polishers and to create a market exploiting the investment qualities of diamonds.” The trading is planned to be run by the Moscow Exchange.
In late October, Galina Platonova, adviser to Zharkov, released through Russia’s leading news agency Interfax, yet another initiative by ALROSA, which is to promote sales of fluorescent diamonds. While currently, fluorescent diamonds generally sell at up to a 15 percent discount, ALROSA is preparing to argue that fluorescence should not be perceived as a defect. Platonova said, “We want to fight the stereotype that fluorescence is a flaw. There was a time when fluorescent diamonds were valued over nonfluorescent ones.” The miner plans to present a set of research documents from recognized industry labs and experts in favor of fluorescence in gem-quality diamonds in 2017, hoping to use it as a jumping board for further marketing campaigns that would eventually boost the demand for such gems. Overall, the demand for rough “remains strong,” indicated Okoemov, as he commented on the mining giant’s most recent sales and production reports. In the first nine months of the year, ALROSA mined 27.9 million carats. Although this signifies a 6 percent year-on-year decrease, it is in line with the miner’s adjusted production plan aimed at keeping the balance of rough and polished in the global pipeline.
Russian jewelers also remain committed to development, despite the persisting challenges supplied by the country’s economic situation. Drawing on the legacy of the outstanding jewelers of the past, such as Fabergé, is one of the ideas fueling the work of many present-day Russian jewelers who aspire to take the country’s jewelry-making to a level it once held. A piece that may be up to the task was presented recently by Ringo, one of the country’s top diamond jewelry brands, headquartered in Yekaterinburg. A high-collar-shaped necklace named Moon Blossom took the Grand Prix in the Best Adornments of Russia contest that saw 68 retailers enter 139 jewelry pieces across 14 categories. The necklace looks featherlight and as magical as its name suggests thanks to a fine openwork design finished off with a balanced mix of diamonds and colored gemstones. The piece is set in 14-karat white gold and decorated with 2,167 diamonds weighing a total of 25.88 carats, 195 black freshwater pearls with a total weight of 155.69 carats, 44 sapphires at 6.57 carats, 1,323 rubies weighing 15.52 carats, and 25 rubellites with a total weight of 35.54 carats. The largest pear-shaped rubellite adorns the centerpiece of the necklace, a detachable pendant that can be worn separately. Zhanna Klimova, Ringo’s marketing director shared with Rapaport Magazine that the necklace took a full 18 months to develop from the concept to a ready piece. Another interesting endeavor to marry a famous Russian artist’s name and fine jewelry was announced on November 11 in Moscow, where St. Petersburg–based jewelry brand SASONKO presented a line of jewelry developed in collaboration with the internationally recognized Russian painter, sculptor and stage designer Mihail Chemiakin. All pieces feature recognizable images from Chemiakin’s well-known art works, making them now available in wearable form. The products range from affordable silver pieces to diamond-studded gold jewelry.Article from the Rapaport Magazine - December 2016. To subscribe click here.
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