Industry News
Alrosa Wants to Market Top Diamonds to Investors
02/02/2009
Alrosa President Sergei Vybornov wants to promote a high-end brand that offers top quality diamonds as a store of wealth, he told Russian business paper Vedomosti.
Vybornov’s plan to market diamonds for investment purposes joins a number of such initiatives already in the market. The idea is that an exceptional diamond is a very rare commodity, and bound to increase in value over time.
“Before the crisis, we launched a new brand and are developing it now... The brand holds a specific niche involving quality diamonds with color characteristics. The gems are intended not only for corporate but also large private clients,” Vybornov told Vedomosti.
The Russian diamond miner already launched a $10-15 million pilot program, Vybornov said.
Vybornov’s statement came just days after it said it stopped selling rough diamonds to its customers in December. Instead, Alrosa is selling all its goods to the state repository Gokhran, a company spokesman said.
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