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
TrendsFeb 25, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
EditorsFeb 25, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
PodcastsFeb 25, 2026
Episode 2: Jewelry Trends & Does the Red Carpet Matter?Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
WatchesFeb 25, 2026
Private Equity Firms Write Down Value of Breitling, Report SaysThe Swiss watchmaker is battling declining sales amid a rapid retail expansion, according to a Financial Times report.
Weekly QuizFeb 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsFeb 25, 2026
Rahaminov Diamonds’ New Campaign Honors Its MatriarchThe campaign celebrates Giustina Pavanello Rahaminov, the co-founder’s wife and matriarch of the family-owned brand, for her 88th birthday.
IndependentsFeb 25, 2026
Borsheims Names 2025 ‘Ike-It’ Award WinnerRachel Bennett, a senior jeweler who has been with Borsheims since 2004, earned the award.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
Policies & IssuesFeb 24, 2026
IEEPA Tariffs Terminated, New 10% Tariff Already ImposedAfter the Supreme Court struck down the IEEPA tariffs, President Trump imposed a 10 percent tax on almost all imports via a different law.
IndependentsFeb 24, 2026
Sherry Smith Now Principal Partner at The Retail SmithsThe industry veteran, who was with The Edge Retail Academy for 14 years, joins her husband at the company he founded in 2022.
IndependentsFeb 24, 2026
Yafa Signed Jewels to Open Store in MiamiThe vintage signed jewelry retailer chose Miami due to growing client demand in the city and the greater Latin American region.
WatchesFeb 24, 2026
Chrono24 Names New VP, U.S. General ManagerFormer Flight Club executive Jin Lee will bring his experience from the sneaker world to the pre-owned watch marketplace.
Events & AwardsFeb 23, 2026
NYCJAOS Announces Four-Day Spring ShowThe April event will feature a new VIP shopping day requiring a special ticket.
TrendsFeb 23, 2026
Dua Lipa Is Bulgari’s New AmbassadorBulgari chose the British-Albanian singer-songwriter for her powerful and enduring voice in contemporary culture, the jeweler said.
Policies & IssuesFeb 20, 2026
Supreme Court Rules Against Most of President Trump’s TariffsIn a 6-3 ruling, the court said the president exceeded his authority when imposing sweeping tariffs under IEEPA.
ColumnistsFeb 20, 2026
Peter Smith: Happiness, Cavemen, and Jewelry SalesSmith encourages salespeople to ask customers questions that elicit the release of oxytocin, the brain’s “feel-good” chemical.
MajorsFeb 20, 2026
Jewelers Vigilance Committee Names Julie Yoakum Board ChairJVC also announced the election of five new board members.
CollectionsFeb 20, 2026
Boucheron’s ‘Faisceaux’ Brooch Heads to V&A MuseumThe brooch, our Piece of the Week, shows the chromatic spectrum through a holographic coating on rock crystal.
IndependentsFeb 19, 2026
Bailey’s Fine Jewelry Co-Founder ‘Mama Ann’ Bailey Dies at 100Raised in an orphanage, Bailey was 18 when she met her husband, Clyde. They opened their North Carolina jewelry store in 1948.
IndependentsFeb 19, 2026
Material Good Opens Third Location Material Good is celebrating its 10th anniversary as it opens its new store in the Back Bay neighborhood of Boston.
Events & AwardsFeb 19, 2026
The Original Miami Beach Antique Show Returns in MarchThe show will be held March 26-30 at the Miami Beach Convention Center.
AuctionsFeb 18, 2026
Joanna Carson’s Jewels Head to AuctionThe estate of the model, philanthropist, and ex-wife of Johnny Carson has signed statement jewels up for sale at John Moran Auctioneers.
MajorsFeb 18, 2026
Select Jewelry Inks Agreement to Distribute Lightweight Gold JewelryIt will lead distribution in North America for Graziella Braccialini's new gold pieces, which it said are 50 percent lighter.
Policies & IssuesFeb 18, 2026
Community for Ethical Jewelry Looks for Executive DirectorThe organization is seeking a new executive director to lead it into its next phase of strategic growth and industry influence.
Events & AwardsFeb 18, 2026
DCA to Host Gemstone Selling Education Session at IJO EventThe nonprofit will present a live, two-hour introductory course on building confidence when selling colored gemstones.
TrendsFeb 17, 2026
A Bit of Jewelry for the Year of the HorseWestern wear continues to trend in the Year of the Fire Horse and along with it, horse and horseshoe motifs in jewelry.
SourcingFeb 17, 2026
Colored Gemstone Experts Talk Tariffs, Trends in TucsonAlthough the market is robust, tariffs and precious metal prices are impacting the industry, Stuart Robertson and Brecken Branstrator said.
