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Lulo diamond sale rakes in $7.3m, says Lucapa

Lucapa Diamond and its partners Endiama and Rosas & Petalas have sold 4 126 ct of diamonds from their Lulo project in Angola for $7.3 million.

Yesterday

Bonhams offers exceptionally rare Cullinan diamonds at auction

Two collections of “extremely rare Fancy Vivid Yellow diamonds” will headline Bonhams London Fine Jewellery sale on December 7, according to IDI news portal.

Yesterday

Botswana Diamonds discovers kimberlites of up to 1.15 ha in size at SA project

Botswana Diamonds said results from the survey work conducted at its Free State project, in South Africa, has indicated that sizes of kimberlites found ranged from 0.3 hectares to 1.15 hectares.

Yesterday

Richemont published its interim report and accounts for the 6 months ended 30 September 2017

Richemont announced the publication of its interim report and accounts for the six months ended 30 September 2017.

Yesterday

Wedding research website says engagement ring prices on the rise

Prospective grooms are spending significantly more money and time on their engagement ring purchase than they did five years ago, according to Rapaport citing a wedding resource website The Knot.

Yesterday

A new brand has come to the Russian market - LA VIVION

14 august 2017

andrey_yanchevskiy_xx.jpgHow this had happened was disclosed in an interview with Rough&Polished by Andrey Yanchevskiy, CEO of LA VIVION, who, having turned from a programmer into a jeweler, proved that algorithms and diamonds are a promising combination in business.

How did you come to the diamond jewelry industry and what attracts you in your business?

I came to the jewelry business in the late 1990's. It all started with a program I wrote for one of the largest jewelry companies in Russia at that time, and eventually this program grew into a full-fledged enterprise resource planning system covering everything - from buying metal, gems accounting, flow of orders in production, payroll preparation, etc., to sales and control of accounts receivable. The program was bought, I was hired and eventually moved up the ladder from a programmer to a member of the board of directors.

In 2005, it became clear that my ambitions were greater than opportunities for further growth within the company, and I created one of the first online jewelry stores, GOLD4U, as one of my own projects in Russia. By 2008, we partnered with a company in Hong Kong and engaged in wholesale deliveries of diamond jewelry to jewelry stores and networks in Russia and the CIS countries. Now our team is busy developing the LA VIVION brand, which we bought several years ago and consider it very promising.

Please tell a few words about your company – when was it established, what is the specificity of your products and services?

excl_14082017_1.jpgIn 2012, the issue of diversifying products and markets came to the fore, as this was primarily due to the changing situation in the Russian economy and simultaneously in the economies of the former Soviet republics. Thanks to the excellent relations with the suppliers of polished diamonds and our own operation in Shenzhen, we decided to move on to the classic assortment that can be sold almost all over the world. We came up with what we thought was a great name for a new company (I will not say what it was) and approached one of the largest advertising agencies in the UK with a proposal to promote this brand in the United Kingdom. The people there did not like the name, to put it mildly, and suggested to try and find a ready brand that is for sale, as a solution. This is how we became the owners of the LA VIVION brand.

The main goods of the LA VIVION brand include everything related to romantic relationships between people: engagement rings, wedding rings, necklaces and diamond earrings. For all customers, we offer bespoke solutions, when the buyer can choose and modify a jewelry piece according to his wishes and budget.

In jewelry manufacturing, we use only diamonds certified by the GIA, mainly having high characteristics, and provide a 47-year warranty on our goods. In a number of countries, we offer an opportunity to upgrade diamonds.

Our basic markets are Europe and America, but last year we also began to offer part of the assortment on the Russian market. In parallel with production and wholesale, there is our online store, www.lavivion.com, which geographically caters to all countries covered by Fedex.

Who are your customers? Has your target group changed with the onset of the industry crisis?

If we are talking about the Russian market, then it should be said that our end-buyers are young people, mostly men aged 27-35, who are going to propose and usually after they buy an engagement ring this purchase is followed by the sale of a pair of engagement rings, and then later in the course of several years they buy earrings and pendant as gifts for birthday or for the birth of a child, etc. Thanks to our services, the loyalty of our customers is very high. When we choose a key partner in some area, our task is not only to offer the product to the buyer, but also to provide a certain level of service.

As for the crisis associated with the fall of the ruble, then, frankly, we do not feel much of it, the brand is new in the Russian market, and we are growing. The share that we occupy today is negligible, and we have huge potential for growth.

How are sales of diamond jewelry now going, which kind of it is in most demand? What are the forecasts for the diamond market?

excl_14082017_2.jpgDespite the crisis, the volume of the diamond jewelry market is quite large, and we are focused on the segment of engagement rings, in which demand is fairly stable.

If we talk about the developments in the Russian market, then it should be said that a significant increase in diamond jewelry consumption can be explained only by the growing well-being of the population.

Personally, I would like to see the market turning more transparent for buyers, so that they could be confident in the quality of purchased goods and adequacy of prices. Unification of the domestic diamond grading system with the international diamond grading system and mandatory certification of all diamonds weighing 0.30 carat and above could be the right steps in this direction.

Do you carry out anti-crisis measures? What are you focused on? What are the changes in demand and in consumer requirements?

In a crisis, the buyer is more responsible towards purchases, which certainly helps us to sell. We conduct absolutely free seminars at a convenient time and convenient venues for our potential and existing customers, accompanied by delicious hot food and drinks. We organize seminars in Moscow ourselves, while in other cities they are organized by our partner stores, which is part of the mandatory events accompanying the launch of LA VIVION sales in a province.

Do you participate in exhibitions, like Junwex, etc.? Or do you visit them?

Since 2009, we take part in the exhibitions held in Hong Kong as jewelry manufacturers and of course attend all the world's leading exhibitions, including Junwex.

What are your plans for the future, your credo, your attitude to clients?

Our task for the near future is to increase the number of partners in provinces, covering at least all cities with a population of 500,000 people. The plans are also to open a mono-brand store in Moscow and further expand the range of our goods.

For our clients, we will soon offer participation in a club program, which will allow them to obtain a number of privileges and services previously unavailable to buyers of jewelry.

Galina Semyonova for Rough&Polished

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