ALROSA TO PRODUCE JEWELLERY IN ARMENIA
by Kseniya Rybak; Mariya Plis

RusData Dialine – BizEkon News
June 15, 2007 Friday

The Russia’s diamond monopoly ALROSA is going to sell its own
jewellery. In the nearest future the company plans to open about one
hundred boutiques, spending USD 50 million on this project.

ALROSA had thought about creation of its own jewellery brand almost
two years ago. The ALROSA’s former president Aleksandr Nichiporuk said
in 2005 that this project had been discussing with the largest luxury
producer Tiffany & Co and Cartier. But in January of 2007 Nichiporuk
had resigned from his post. His successor ALROSA president Sergey
Vybornov said that the company would open about one hundred boutiques
during five years in Moscow and other cities of Russia.

Vybornov thinks that ALROSA will spend on the creation of its own
brand approximately USD 50 million. "It should be only outsourcing",
Sergey Vybornov said. It is possible that ALROSA’s jewellery will
be produced outside Russia. From the price’s and quality’s point of
view it is very interesting suggestion to produce ALROSA’s jewellery
in Armenia. These jewellery will cost approximately USD 800.