GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

Russia’s Ministry of Finance: Demand for hallmarked jewelry will see soaring growth in 2021

28 december 2020
news_28122020_hallmarking.png
Image credit: Russkiye Samotsvety

Alexey Moiseev, Russia’s Deputy Finance Minister expressed confidence that jewelry hallmarking to be introduced next year, will lead to an explosive growth in jewelry sales.
“We believe that the result will be the same as after the introduction of fur coat labeling. Remember, after the introduction of mandatory labeling, the legal market grew several times? Maybe, in our case, it will be even better,” said Alexey Moiseev, according to RIA Novosti.
In a more recent interview with TASS, he noted that at present Russia has control over precious metals, stones and products made from them worth about 3 trillion rubles. “At the same time, the share of 'shadow turnover' in the jewelry market [in Russia in 2020] is approximately 50%. This, first of all, imposes risks on buyers and violates their rights. When a person buys a piece of jewelry, he or she expects that the product will be of the appropriate quality. The same applies to diamond jewelry. We stand for a clear distinction between synthetic and natural stones,” said Aleksey Moiseev.
Speaking at the Moscow J-1 Jewelry Exhibition-Congress on September 22, he stated that jewelry is something that Russia can rightfully be proud of, and that hallmarking is aimed to protect buyers from counterfeits and increase consumer confidence in the jewelry industry.
At the exhibition, the Ministry of Finance of Russia and the Federal Assay Office informed the professional community that starting from December 1, 2020, the jewelry hallmarking system in Russia will operate in a test mode, then from January 1, 2021 onwards it will become mandatory, and from July 1, 2021 only hallmarked jewelry will be allowed in the country.

Vladimir Malakhov, Rough&Polished