Alrosa, Kristall Expand Cooperation, Want Consumer Awareness

The Russian diamond monopoly Alrosa and diamond polisher Kristall of Smolensk have displayed increasingly close ties lately. The two companies recently signed a rough diamond supply agreement while their top executives attended several meetings together, including gatherings in Israel and Dubai, to announce local initiatives. Now they are looking into leveraging their cooperation downstream.

In the past the two announced plans to develop a joint brand, a plan that is moving ahead after they signed a long-term rough diamond supply agreement.

One of the new ventures Alrosa and Kristall, a Diamond Trading Company (DTC) Sightholder, are developing is a collection of Russian diamonds for Tiffany & Co, according to the Russian news agency Interfax.

According to an Alrosa statement, quoting Kristall’s General Director Maxim Shkadov, they are now looking into developing a similar venture with another luxury company - Cartier.

Alrosa president Alexander Nichiporuk says that now they are producing and manufacturing diamonds for Tiffany, it is important to them that the end consumer will know the diamonds came from Yakutia and were polished in Russia.

“Here we need to carry out more work,” Nichiporuk said about creating consumer awareness for their product. “But it is already a fact that there is demand for our products from the leading jewelry firms,” he added.