The indelicate balance of ethics against profit

I am slightly pained to write this blog, as over the years I've made many close friends and contacts in Switzerland, not to mention worked very closely with several Swiss-based companies as part of our recently launched DMCC Crypto Centre, including...

Today

Yakut diamonds, the symphony of permafrost

The Yakutia-based Kierge company, one of the Top 100 of the leading jewellery brands in Russia, opened its showroom in Moscow this autumn, which is gaining popularity in the capital of Russia. “Kierge” is the Yakut for a “finery, decoration” in a broad...

22 november 2021

Vladislav Zhdanov - “The use of diamonds in high technologies is the main and key target of the diamond synthesis technologies”

Vladislav Zhdanov, Professor at the Higher School of Economics, Advisor to Director General - Chairman of the Management Board of the Russian Railways company, and former Vice President of ALROSA (2015-2018). He is a physicist by background...

15 november 2021

Ali Pastorini: The white diamond is the equivalent of a white shirt for a woman

Ali Pastorini is the co-owner of Del Lima Jewelry and President of Mujeres Brillantes, an association that brings together more than 1,000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

08 november 2021

“As a purist and old school diamantaire, I don't believe in LGD,” says Vin Lee, CEO Grand Metropolitan

Vin Lee, the King of Luxury, doesn’t need any introduction. He is a self-made billionaire CEO of Grand Metropolitan. The Beverly Hills' family office Grand Metropolitan is $7 billion AUM privately-held luxury goods holding company with a 60-brand...

01 november 2021

ALROSA ALLIANCE: New way of life

25 november 2021
ALROSA has presented its customers with a new concept of creating a list of partners eligible for signing long-term agreements and new rough diamonds allocation principles, which will be relevant for the 2022–2024 contract period.
In 2021, the company’s thorough analysis of the situation showed the need for adjusting its goods allocation model under long-term contracts. As a result, ALROSA has developed a new system, which ensures that specifications meet clients’ requirements as closely as possible. This new system, in addition to the client’s purchase history, takes into account the specific business needs of each diamond consumer category, such as diamond cutters, traders and jewellery retailers.
“The diamond market has successfully overcome two of the gravest shocks in a row. The local industry crisis in 2019 and the subsequent global coronavirus pandemic have transformed the industry, making it much more transparent and open for discussions. After the transitional period of 2021, the time has come to start a new contract period. On the other hand, the market needs a new model of long-term agreements in rough diamond trade to help withstand external shocks. The key distinction of this new system is its division of contracts and goods depending on the clients’ business activity . We give special priority to creating added value at all stages of a diamond’s journey. The continuous open dialogue we have been having for recent years has allowed us to improve the understanding of our customers’ needs even further. Thanks to this, we are now able to tailor extremely unique specifications for each client, ensuring the most effective buyout. This approach has been approved by the regulatory body, so the January 2022 trading session will follow these new rules,” said Evgeny Agureev, Deputy CEO of ALROSA.

Vladimir Malakhov, Rough&Polished