Nichiporuk: Alrosa Seeking Co-Branding with Luxury Firms

After quiet discussions that have been going on for well over a year, Alrosa’s President Alexander Nichiporuk publicly said the diamond miner is seeking to forge a co-branding venture to promote jewelry set with its diamonds.

According to a report in Interfax today, Nichiporuk said at the Russian Luxury Forum 2005 in Moscow that Alrosa is in discussions with Tiffany & Co and Cartier. The sides are not at the negotiation stage, but are expressing mutual interest.

Various Alrosa executives have held discussions with jewelry firms over possible co-branding ventures. Talks were held with small firms with next to no public recognition to major firms. Some were held in Israel, the U.S. and elsewhere.

One venture that will probably materialize is with Kristall of Smolensk, Russia's largest diamond polisher, to create a brand for the local Russian market.