GradingNov 01, 2021
GSI Expands Services Ahead of the Holiday RushSourcingNov 17, 2021
Alrosa’s Q3 Sales Hit Highest Level Since 2010
But they were down quarter-over-quarter due to a shortage of rough diamonds.
Alrosa’s third quarter revenue from rough and polished diamond sales reached $1.05 billion, its highest third-quarter sales total since 2010. (Photo courtesy of Alrosa)
Moscow—Alrosa just recorded its best third quarter in a decade, with revenue topping $1 billion as diamond jewelry sales remain strong in the world’s two biggest markets, the United States and China.
The Moscow-based diamond miner’s third quarter revenue totaled 76.9 billion rubles ($1.05 billion), up 55 percent compared to the third quarter 2020, when sales totaled 49.7 billion rubles ($679.5 million).
However, Alrosa’s third-quarter revenue was down 18 percent quarter-over-quarter due to a rough diamond shortage.
The company said producers initially were able to meet the 2021 surge in demand using rough diamond stocks accumulated in 2019 and 2020, when end sales to consumers sagged. By the start of the third quarter, though, they’d run out of stockpiled rough and had to start using newly mined goods.
For Alrosa, this led to a 20 percent decline in sales volume, although it was strong third quarter from a comparative context.
Normally, the third quarter is one of the weakest periods of the year for diamond producers but for Alrosa, Q3 2021 was its strongest third quarter since 2010.
Related stories will be right here …
The Moscow-based diamond miner’s third quarter revenue totaled 76.9 billion rubles ($1.05 billion), up 55 percent compared to the third quarter 2020, when sales totaled 49.7 billion rubles ($679.5 million).
However, Alrosa’s third-quarter revenue was down 18 percent quarter-over-quarter due to a rough diamond shortage.
The company said producers initially were able to meet the 2021 surge in demand using rough diamond stocks accumulated in 2019 and 2020, when end sales to consumers sagged. By the start of the third quarter, though, they’d run out of stockpiled rough and had to start using newly mined goods.
For Alrosa, this led to a 20 percent decline in sales volume, although it was strong third quarter from a comparative context.
Normally, the third quarter is one of the weakest periods of the year for diamond producers but for Alrosa, Q3 2021 was its strongest third quarter since 2010.
Year-to-date, Alrosa’s revenue has totaled 261.3 billion rubles ($3.57 billion), more than double what it was at this point last year.
Third-quarter net profit of 25 billion rubles ($341.9 million) was down 17 percent quarter-over-quarter due to lower returns on sales but more than triple the third quarter 2020.
Year-to-date, the miner’s net profit has reached 79.2 billion rubles ($1.08 billion), up seven-fold versus the same period last year, on the back of recovering sales volume and rising rough prices.
Alrosa is increasing its production outlook for 2021, to about 32.5 million carats from previous guidance of 31.5 million carats.
It said sales volumes will depend on market demand, as well as its ability to push additional goods through any potential bottlenecks in production.
Long term, the company said it maintains a positive outlook for the diamond jewelry market, and said it expects rough diamond prices to remain high due in part to a decline in production.
Starting this year, global diamond production is expected to range between 110-120 million carats annually, down from 140-150 million carats per year prior to 2019.
More on Sourcing
The Latest
CollectionsOct 08, 2025
Emily P. Wheeler Shifts Into Neutral for Latest ‘Ombré’ CollectionThe champagne colorway in her newest “Ombré” collection combines white and trendy brown diamonds, a departure from her usual vibrant hues.
CollectionsOct 08, 2025
Tsuba Designs Inspire Monica Rich Kosann’s New CharmsKosann partnered with the Museum of Fine Arts, Boston, to create a set of necklaces inspired by the artwork on samurai sword handguards.
CrimeOct 07, 2025
Men Who Posed as Utility Workers Found Guilty in Jeweler’s MurderCarlos Jose Hernandez and Joshua Zuazo face life in prison for the October 2024 murder of 72-year-old Detroit-area jeweler Hussein Murray.
Brought to you by
JA New York Fall Is Right Around the CornerThe upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.
CollectionsOct 07, 2025
Jessica McCormack Looks to Sea Spirits for ‘Tempest’ CollectionThe brand’s first high jewelry collection, “Tempest” plays with movement while calling to mind the folklore of the sea.
Weekly QuizOct 02, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsOct 07, 2025
Stuller Names Its S.E.R.V.E Stars for 2025Stuller said the recipients embody the company’s core values, which include community participation and personal and professional growth.
WatchesOct 06, 2025
This Fall, Citizen’s Forecast Calls for RainCitizen’s new “Rainell” women’s watch has a raindrop-shaped case and is available with a silver-, gold-, purple-, or green-colored dial.
AuctionsOct 06, 2025
The ‘Rolex That Made Rolex’ Heads to Auction at Sotheby’s The “Mercedes Gleitze Rolex Oyster,” named for the British endurance swimmer who made it famous, will go up for sale next month.
GradingOct 06, 2025
GIA India Names Former De Beers Exec as New Managing DirectorAmit Pratihari was previously the managing director of De Beers India and Forevermark India.
SourcingOct 06, 2025
SoCal 24 Karat Club Integrates Into Diamond Club West CoastMembers of the Jewelers 24 Karat Club of Southern California will gain access to expanded services, resources, and connections, DCWC said.
TrendsOct 03, 2025
Selena Gomez, Benny Blanco Tie the Knot Wearing Diamonds, White MetalsGomez’s jewelry included Tiffany & Co. drop-style earrings while Blanco stacked diamonds from Jacob & Co. on his wrist.
GradingOct 03, 2025
Grading Lab HRD Antwerp Names New CEODiamond industry banking veteran Paul De Wachter will take on the role in January 2026.
TrendsOct 03, 2025
Piece of the Week: Kallati’s Pink Sapphire RingTaylor Swift flaunts an Elizabeth Taylor-esque gemstone in promo for her new album, “The Life of a Showgirl.”
CollectionsOct 02, 2025
Boucheron Debuts Cuffs Crafted With 3D-Printed SandIts “Quantre Sand” capsule was made using a 3D sand printing technique borrowed from the automotive and aeronautics industries.
CrimeOct 02, 2025
$1M in Jewelry Stolen in Northern California Smash and Grab Four individuals have been charged in the “takeover-style” robbery of Heller Jewelers last month, and additional charges are expected.
MajorsOct 02, 2025
Neil Lane Jewelry Exhibition Coming to Toledo Museum of Art“Radiance and Reverie” will showcase more than 150 jewels from Lane’s personal collection by Tiffany & Co., Cartier, and more.
TrendsOct 02, 2025
Amanda’s Style File: October’s Colorful ShowThe month’s birthstones, tourmaline and opal, complement the palette of autumn.
ColumnistsOct 01, 2025
Peter Smith: Why Vendor Success Starts With Self-ReflectionSmith shares the importance of looking at your company with openness and honesty to identify opportunities you may be missing.
EditorsOct 01, 2025
Playing Favorites: The Best Jewelry From VicenzaoroAssociate Editor Natalie Francisco visited Italy to spot jewelry trends at the September Vicenzaoro show and share her top finds.
SurveysOct 01, 2025
Consumer Confidence Hits 5-Month Low in September Respondents were concerned about job availability and rising prices.
SourcingOct 01, 2025
Gemfields’ H1 Revenue Falls 47%Its latest interim financials revealed a challenging first half due in part to production troubles at its mines.
MajorsSep 30, 2025
Pandora CEO to Retire in 2026, Hand Reins to CMO Alexander Lacik has led Pandora since 2019. Berta de Pablos-Barbier will succeed him, the first woman to head the company.
CrimeSep 30, 2025
2 Suspects Charged in $300K Sleight-of-Hand Jewelry Store ScamTwo men allegedly used counterfeit bills to purchase luxury watches and jewelry from a North Carolina jeweler.
CollectionsSep 30, 2025
Billie Eilish, Finneas Partner with John HardyThe “Lovestruck” collection, designed with the Academy and Grammy award-winning siblings, is the brand’s first lab-grown diamond offering.
IndependentsSep 30, 2025
Spinelli Kilcollin Announces Residency in DallasThe brand, celebrating its 15th anniversary, has popped up at Market, a luxury fashion destination in Highland Park Village.
IndependentsSep 29, 2025
Nina Pugliese, Longtime Henne Jewelers Employee, Dies at 65She was remembered as a creative and generous woman of faith, who also had a sweet tooth.
