“The Best Jewellery Store – 2013”: GRAND PRIX Has Gone to Tomsk

On June 28, 2013 the XII Awarding Ceremony of the winners of “The Best Jewellery Store of the Year” international contest was held at KORSTON hotel Moscow. 45 jewellery stores and chains of Russia, Ukraine, Belarus and Kazakhstan became the winners in various categories. They were awarded diplomas and Pallas Athena silver statuettes.

The highest award went to “Estet”(“Esthete”) jewellery house, the city of Tomsk.  In solemn atmosphere of CORSTON hotel Moscow, GRAND PRIX was presented to Vera Ziborova, Director General of the jewellery house.

Alrosa Posts 6 Percent Rise in Revenues in Q1

Alrosa's revenues rose 6 percent on a year earlier in the first quarter of this year to $1.24 billion (39.6 billion rubles), but were down 15 percent on the fourth quarter of last year due to changes in product mix.

Net profit plunged by 51 percent on the year in the first quarter to $196 million (6.26 billion rubles) and dropped 29 percent in the last quarter of 2012 mainly due to exchange rate losses, the miner said.

Tiffany & Co. to Open First Fully Owned Store in Russia in 2014

Upscale jeweler Tiffany & Co. plans to open its first wholly owned store in Moscow's famous GUM department store in Red Square.

The two-level store will cover around 420 square meters (approximately 4,520 square feet) in Moscow’s leading luxury shopping and art and culture area, and is expected to be opened in the first quarter 2014.

Alrosa Signs Deal With Sotheby’s For Sale of Special Stones

Russian diamond mining monopoly Alrosa has signed a Letter of Intent for the sale of large and unique diamonds manufactured by its Brillianty Alrosa unit, as well as diamond jewelry, at auctions held by Sotheby’s.

The document provides for the possibility of the diamonds to be offered for sale at auction to be GIA certified.

Moscow Bourse Bringing Buyers to Diamond Week in Israel

The Moscow Diamond Bourse (MDB) is to bring a delegation of buyers from Russia and CIS countries to the Israel Diamond Exchange (IDE) for the August 26-29 US & International Diamond Week.

A small group of MDB buyers participated in the first US & International Diamond Week at the IDE, which was held in March.

Alrosa Produces 7.5 Mln Carats in Q1, Sales Up to $1.22 Bln

Russian miner Alrosa produced 7.48 million carats of rough diamonds in the first quarter of this year.

The Alrosa group's total sales of rough and polished diamonds in the first quarter amounted to $1.215 billion, a 5 percent rise on the same period of 2012.

Russia: What the Buyer Economizes on and How He Puts on the Ritz

The Russians’ approach to their spending has become more detailed; they save on almost everything. One-third of the participants (32%) of the study, conducted by the “Romir” company, said that during the previous six months they hadn’t concluded any major purchase. Almost all items of expenses have been cut, but the most tangible was cost reduction on clothes and footwear. Not only the inflation is to blame but also, according to experts, expenses on food and basic goods.

Alrosa CEO Sees Valuation of up to $15 Billion From IPO

Alrosa's planned share flotation could value the company at up to $15 billion, according to CEO Fyodor Andreev.

The Initial Public Offer (IPO) of 14 percent of the firm's shares is due to take place on the Moscow stock exchange in October or November, said Andreev following a meeting with President Vladimir Putin.

Putin has requested that share offerings of state-owned firms be carried out on the Moscow exchange rather than foreign markets such as London, New York or Hong Kong.

The Russian Jewellery Market and its Features

It so happened that the customer’s dissatisfaction with jewellery assortment has become the peculiarity of the Russian jewellery market; alongside with the apparent abundance there is lack of adequate diversity. Besides, the design of the import jewellery is better.

The development of the jewellery industry in Russia is influenced by many factors, such as seasonality of sales, the expansion of the leading players’ mass campaigns, the imperfection of the Russian legislation, obsolete production capacity of enterprises, and even, since recently, Russia’s accession to the WTO.

Head of Gokhran Resigns, But Government Cannot Find Replacement

The head of Russia's Gokhran, the precious metals and gems repository, has submitted his resignation but is continuing in his position since the government has been unable to find a suitable successor, according to a report by Reuters.

 Vladimir Rybkin, handed in his resignation three months ago, but his request remains unanswered, according to three sources familiar with the situation, the newswire reported.

The Central Federal District generates more than 30% of the jewellery retail

Large jewellery retail chains of the federal level continue to strengthen their positions at the promising from the point of view of sales markets, which include the Central, Volga and Southern Federal Districts. The limiting factors for the development of the federal retail trade in the Ural, Siberian and Far Eastern Federal Districts remain the saturation of the local jewellery market by local operators, the market entry of the manufacturing enterprises with their own retail and increased price competition. By the end of 2012, according to Rosstat, the growth of the total jewellery retail sales in the Russian regions was about 14% compared with 2011. The largest contribution to the total revenue was made by the Central Federal District (33%), the Siberian and Southern Federal Districts (in equal shares,12%), the Ural Federal District (over 11%), the Volga Federal District (10%).

Russia's Gokhran Raises $17.9M at +10.8 Cts Auction

Russia's state precious metals and gemstones repository, Gokhran, has auctioned off 572 large-size rough diamonds for $17.9 million, according to a finance ministry official cited by RIA Novosti.

The auction, the first that Gokhran has held this year, included 709 ‘Specials,’ diamonds weighing 10.8 carats and larger, with 38 diamond polishing firms taking part.

Alrosa Reports 2012 Output at 34.4 Million Carats

The Alrosa group's rough diamond production in 2012 was 34.4 million carats, or 27 percent of global rough diamond production by volume, according to its annual report for last year that was approved by its Executive Committee

The Alrosa group's total diamond sales were $4.61 billion, which was 4.1 percent higher than the 2011 figure of $4.45 billion. The miner's net profit under Russian Accounting Standards exceeded that of 2011 by 34.4 percent.

Russia’s best jewelry stores 2013

The awarding ceremony of the winners of the contest “The Best Jewelry Store of the Year”, traditionally held in June, every year becomes the central event of the Russian jewelry industry. In 2013, the ceremony will be held for the twelfth time, and, as usual, will be the largest industry forum, which will gather the leading retailers and manufacturers from all over Russia.

Buy “TOP-100” – catalogue of the best jewellery trade enterprises in Russia

Do you need a safe partner in Russia? Are you looking for a company that can worthily represent your products in Russia? Buy the catalogue “TOP-100. Russia’s best jewellery brands – 2012”. Get acquainted with the list of the best trade enterprises (wholesale and retail). Choose the right partner in the right region. Communicate with the owner.