Making a brand, Russian diamond jewelry is coming to stores near you. Russia's largest diamond miner wants you to know their name, ALROSA. The company is starting a new worldwide diamond marketing campaign with the intention of breaking into the retail market. This includes selling polished diamond goods via its subsidiary Brilliantly; they will also sell using top international auction houses, such as Sotheby's and directly to private consumers. This new marketing campaign aims to change that.
Director general of Brillianty Alexander Milinin explained that " while De Beers is known worldwide, ALROSA doesn't enjoy such popularity. We hope to make the company well-known through 7° diverse clientele, including private buyers." In May of 2013 ALROSA sign a memorandum of cooperation with Sotheby's for its diamonds to be sold through the auction house.
The company so far has taken part one auction in which it sold two diamonds in another auction in which it sold four diamonds. "There was spirited bidding for the items that were consigned by ALROSA. People appreciated not only the vibrant colors of the diamonds presented but also the exceptional cutting quality," said Gary Schuler, director Sotheby's jewelry department.
In order to increase its name recognition, ALROSA has developed two new programs. The first being for large diamonds and the second being for fancy color diamonds. With regards to developing its new agenda, ALROSA has connections in the diamond and jewelry world.
The company is already a major diamond producer. Director of Brillianty, explains "the more people know about Russian diamonds, the more they want to buy them, and this will be more sale for ALROSA's rough." The Russian cut diamond is known to be a superior product with regards to quality and diamond material with special regards to polishing techniques.
ALROSA made Brillianty in order to serve as a price tracking vehicle on the world market for ALROSA's diamonds. The company sells its large size diamonds directly to clients or through approximately five annual auctions held in ALROSA's offices in New York, Antwerp, Hong Kong and Ramat Gan.
Selling diamonds through the auction houses such as Sotheby's lends credibility to its name recognition. "The record prices have been on exclusive stones, either big stones in D or F color or fancy colors. Exclusive stones are less subject to fluctuations of the financial markets and their prices should continue to rise." Using auction houses such as Sotheby's provides excellent publicity for the company in addition to fetching the highest prices for their diamonds. Since the inception of this new marketing campaign to bring ALROSA brand to the forefront of the diamond and jewelry industry the company has polished six rough stones each weighing over 50 carats after polishing.
These stones require some of the best polishing and cutting techniques in which Russia has developed and perfected. The purpose of this committee is to ensure that unique one-of-a-kind diamonds stay in Russia. Such diamonds considered to be unique. Furthermore, the Russian Ministry of Finance will either buy them or get permission to sell abroad.
Fancy color diamonds by ALROSA and have a reputation to be exceptionally beautiful. What is the is certified, that certification gives an approximate price, but when one buys rough, it is not always clear what the outcome will be," says Alexander Malinin. Recovered from the Severalmaz mine, three pink diamonds sold at Sotheby's in September for$230,000. The mine yet has to reach its full production capacity. Moreover, it will likely be up and running by late 2013.
The purpose is for the marketing campaign launched by ALROSA will introduce a new brand of diamonds, Russian diamond jewelry. With an emphasis on fine makes (triple excellent cuts), brilliant material, and unique colors. Another appealing factor is that Russian diamond jewelry is conflict free. Additionally, it is ecologically friendly. All these reasons lend significant credibility to their campaign. Thereby increasing their chances to garner appeal for Russian Diamond Jewelry.
Russian Diamond Jewelry is brough to you by ALROSA and its subsidiaries.http://www.businessinsider.com/huge-russian-diamond-find-overhyped-2012-9