Alrosa’s Q3 Sales Hit Highest Level Since 2010
But they were down quarter-over-quarter due to a shortage of rough diamonds.

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.
The Latest

“Shell Auranova” is the next generation of the brand’s bridal line, featuring half-bezel engagement rings with bold and fluid designs.

Boucheron and Pomellato performed well in an otherwise bleak quarter for Kering amid struggles at Gucci.

Designer Deborah Meyers created her birds from oxidized sterling silver, rose-cut diamond eyes, and Akoya Keshi pearl feathers.

Six new retail businesses were selected for the 2025 program, which began in January.

Sponsored by the Gemological Institute of America


Simon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.

A third-generation jeweler, Ginsberg worked at his family’s store, Ginsberg Jewelers, from 1948 until his retirement in 2019.

The risk of laboratory-grown diamonds being falsely presented as natural diamonds presents a very significant danger to consumer trust.

The company failed to file its quarterly reports in a timely manner.

Charms may be tiny but with their small size comes endless layering possibilities, from bracelets to necklaces and earrings.

Located in Valenza, the now 355,000-square-foot facility includes a new jewelry school that’s open to the public, Scuola Bulgari.

Paola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.

A platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.

The basketball stars wear men’s jewelry from the “Curb Chain” collection.

The Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.

The 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.

Lilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.

GCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.

The Indiana jeweler has acquired Scottsdale Fine Jewelers in Scottsdale, Arizona.

“Cartier: Design, Craft, and Legacy” opened earlier this month at the Victoria and Albert Museum in London.

Van Cott Jewelers in Vestal, New York, is hosting a going-out-of-business sale.

Industry veteran Samantha Larson has held leadership roles at Borsheims, McTeigue & McClelland, Stuller, and Long’s Jewelers.
The two organizations will hold the educational event together this fall in Mississippi.

The entrepreneur and “Shark Tank” star will share his top tips for success.

The Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.

The jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.

The “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.