This year’s honorees include a Midwest retailer and two multi-store independents, one in New York and the other in New England.
Alrosa’s H1 Revenue Declines 17%
The Russian diamond miner said its weak performance was due to the appreciation of the ruble against the dollar and a drop in the average price of diamonds sold.

Moscow--Revenue was down 17 percent and net profit declined 46 percent in the first half of the year, diamond miner Alrosa reported last week.
Revenue in the six-month period was RUB 155.6 billion ($2.71 billion) while net profit was RUB 48.9 billion ($850 million).
The company attributed its weaker performance in the first six months of the year to the 18 percent appreciation of the ruble against the dollar and a 15 percent drop in the average price of the diamonds sold due to changes in the diamond mix.
Alrosa noted that by the end of 2016, it had many small rough diamonds that went unsold because of the demonetization program in India. These inventories sold in the first half of the year as demand improved. In the second quarter, the volumes and sales mix stabilized, allowing the average price of diamonds to grow 20 percent quarter over quarter.
First half diamond sales grew by 12 percent to 24.3 million carats, compared with 21.7 million carats last year, and diamond production was up 14 percent to reach 19.3 million carats.
The diamond miner’s initial production target of 39.2 million carats to for 2017 remains unchanged.
It noted that production volumes missing due to the Aug. 4 flooding accident at the Mir underground mine will be offset by higher output at other mines, primarily the Jubilee pipe.
Alrosa also announced Thursday that the company has invited an auditor with experience working in an underground diamond mining facility to conduct an independent audit to assess the decisions and actions at the design, construction and operation stages of Mir underground mining following the early August incident, which resulted in the death of eight miners.
The Latest

As an homage to iconic crochet blankets, the necklace features the nostalgic motif through a kaleidoscope of cabochon-cut stones.

Discover the dozen up-and-coming brands exhibiting in the Design Atelier for the first time.

When investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.

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


Two existing executives have been given new roles.

Meredith Tiderington, an electrical engineering student, was selected for the award.

More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.

It will quit assigning the stones specific color and clarity grades in favor of applying “new descriptive terminology.”

From design trends to sustainability, here’s a roundup of can’t-miss education sessions at JCK Las Vegas.

The Jewelers’ Security Alliance offers advice for those attending the annual trade shows.

Her new role is director of strategic initiatives.

The designer is embracing bold pieces with weight to them in “AU79,” a collection she celebrated with a creative launch party.

On an earnings call, CEO J.K. Symancyk discussed what’s working for the company and how it’s preparing for the potential impact of tariffs.

The index partially rebounded after months of decline, due in part to the U.S.-China deal to temporarily reduce import tariffs.

The actress stars in the latest campaign set in Venice, Italy, and is set to participate in other creative initiatives for the jeweler.

The company has joined other labs, including GIA and Lotus Gemology, in adopting the Chinese term for "jadeite jade."

Located in Bangkok, the laboratory is Gemological Science International’s 14th location worldwide.

Those born in June have a myriad of options for their birthstone jewelry.

The diamond industry veteran has been named its senior sales executive.

The company plans to raise the prices of select watches to offset the impact of tariffs.

Between tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.

Designed by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.

However, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.

The pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.

Sponsored by Stuller

It was featured in the miner’s latest sale, which brought in $24.8 million.