CollectionsMay 21, 2025
Bulgari Highlights Its Colorful Past in Phenomenal ‘Polychroma’ CollectionThe jeweler’s high jewelry collection features extraordinary gemstones, like a 241.06-carat emerald and the world’s fourth-largest spinel.
SourcingNov 12, 2018
Alrosa Lowers Expectations as Smaller Stone Sales Slow
Sales of smaller diamonds have been hurt by Indian manufacturers’ inability to secure financing.
This 51.49-carat rough diamond is the first stone of significant size recovered from Alrosa’s new Verkhne-Munskoye deposit. The site is expected to produce 1.8 million carats annually, helping to compensate for the loss of the Mir diamond mine, which remains closed.
Moscow—Alrosa lowered its sales guidance for the year on the back of weakness in sales of smaller diamonds as Indian cutters and polishers continue to struggle to secure credit.
In third quarter results released last week, the Moscow-based diamond mining company reported that sales in volume terms declined 11 percent year-over-year from 7.5 to 6.7 million carats (2 million industrial, 4.7 million gem quality), mainly due to a drop-off in sales of small diamonds.
Through the first nine months of the year, diamond sales are down 9 percent in volume terms but up 9 percent in value terms to $3.52 billion on the back of stronger prices and an improved mix of gem-quality diamonds.
Alrosa is selling more stones that are 2 carats and above, including diamonds that are 10-plus carats, while also edging into sales of natural color diamonds.
Its average selling price for gem-quality rough grew 18 percent year-over-year in the third quarter to $199/carat. Year-to-date, the price index is up 5 percent.
Small diamond sales, meanwhile, have dropped off as Indian polishers struggle to find financing in the wake of the Nirav Modi scandal and the rupee weakens against the U.S. dollar.
Alrosa lowered its full-year sales guidance from 39-40 million carats to 37-38 million carats on the back of its third quarter results.
Third quarter diamond production was up 2 percent year-over-year to 10.5 million carats, and 23 percent quarter-over-quarter due to the seasonal growth of production at alluvial deposits.
The full-year production outlook remains unchanged at 36.6 million carats, an 8 percent year-over-year decline.
Alrosa said production is expected to ramp up at Udachny underground and Severalmaz in the fourth quarter, and it just opened the new Verkhne-Munskoye deposit last month.
The opening of this new deposit is expected to help offset the loss of the Mir mine, though only partially.
Verkhne-Munskoye is forecast to produce 1.8 carats annually; Mir, which has been closed since August 2017 when a flood took the lives of eight workers, produced 3.9 million carats in 2016, the last time it was in operation for a full year.
More on Sourcing
The Latest
ColumnistsMay 21, 2025
Edahn’s Take: Analyzing the 2025 ‘$100 Million Supersellers’ List In a special column for the State of the Majors, Edahn Golan breaks down what the top-performing fine jewelry sellers are doing right.
MajorsMay 21, 2025
Beyoncé Dons Brilliant Earth Necklace During Cowboy Carter TourThe bolo tie necklace is inspired by “Queen Bey” and set with a nearly 15-carat black diamond.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
MajorsMay 20, 2025
Annie Doresca to Lead DCA as New CEO, PresidentCurrent Diamond Council of America President and CEO Terry Chandler is set to retire in January 2026.
Weekly QuizMay 15, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsMay 20, 2025
QVC Group to Voluntarily Delist from NasdaqThe company's Series A shares will continue to trade following a reverse stock split while its Series B shares will be delisted.
ColumnistsMay 20, 2025
Peter Smith: Leading Through ChangeCommunicating clearly with your staff is key to navigating turbulent times, writes columnist Peter Smith.
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest AdditionSupplier Spotlight Sponsored by GIA
IndependentsMay 20, 2025
Luis Morais Opens Flagship, Launches Collection Celebrating 25 YearsThe “Inner Journey” collection debuted as the brand celebrated its 25th anniversary, with designs inspired by Morais’ journey.
MajorsMay 20, 2025
Tanishq Opens Seventh U.S. StoreTanishq is expanding its presence in the United States with a new store in Santa Clara, California, which is its largest in the country.
FinancialsMay 19, 2025
Jewelry Sales a Standout for Richemont in 2024Sales for Richemont’s four jewelry brands increased 8 percent, while watch sales picked up toward the end of the year.
Events & AwardsMay 19, 2025
NAJA Opens Scholarship Applications for 2025Two scholarships are available, one for new and non-members and another for NAJA certified members.
IndependentsMay 19, 2025
Day’s Jewelers to Open Ninth LocationThe retailer’s new flagship is set to open in October at the Tuscan Village development in Salem, New Hampshire.
MajorsMay 16, 2025
Saks Fifth Avenue, Amazon Partner on Luxury Online StorefrontPlus, parent company Saks Global announces plans to cut ties with up to 600 vendors.
Recorded WebinarsMay 16, 2025
Watch: Physical Retail Is Not DeadPeter Smith joined Michelle Graff to chat about the state of brick-and-mortar stores and share a few book and podcast recommendations.
CollectionsMay 16, 2025
Piece of the Week: Tejen’s ‘Candy Bowl’ Torque NecklaceThe necklace features a candy-colored Australian white opal in 18-karat Fairmined gold, as the brand was named a Fairmined ambassador.
Supplier BulletinMay 15, 2025
Treasure Hunting at the Las Vegas Antique Jewelry and Watch ShowSponsored by the Las Vegas Antique Jewelry and Watch Show
AuctionsMay 15, 2025
'The Mediterranean Blue' Diamond Sells for $21M at Sotheby’sA private American collector purchased the 10-carat fancy vivid blue diamond.
CollectionsMay 15, 2025
Jessica McCormack’s ‘Fruit Salad’ Collection Is Fresh for SummerThe designer has taken the appeal of freshly picked fruit and channeled it into a capsule collection of earrings, necklaces, and pendants.
SourcingMay 15, 2025
Tariffs Take Toll on India’s Gem and Jewelry Industry in April The country’s gem and jewelry exports fell 5 percent year-over-year last month, while imports declined 18 percent.
Policies & IssuesMay 15, 2025
State of Retail: How to Better Serve Customers With DisabilitiesAround 54 million Americans and counting live with a disability. Here’s how to make your jewelry store and website more accessible.
Events & AwardsMay 15, 2025
Poet Sekou Andrews to Give Closing Keynote at ConvergeThe event is also accepting poster submissions now through June 16.
Policies & IssuesMay 14, 2025
Here’s What Happened to Pope Francis’ RingBefore Pope Leo XIV was elected, a centuries-old procedure regarding the late pontiff’s ring was followed.
AuctionsMay 14, 2025
Custom Rolex Pulled From Sotheby’s SaleThe one-of-a-kind platinum Rolex Cosmograph Daytona was estimated to fetch up to $1.7 million.
Lab-GrownMay 14, 2025
State of Diamonds: What’s Next for Lab-Grown Diamonds?While the product has entrenched itself in the market, retailers and consultants are assessing the next phase of the category’s development.
CrimeMay 14, 2025
Seattle Detectives Seek Public’s Help in Tiffany & Co. Robberies The police are trying to identify the man suspected of robbing two Tiffany & Co. locations in the area.
MajorsMay 14, 2025
Jeff Corey Elected Chair of JBT Board The well-known Maine jeweler takes over for Brian Fleming and will serve a one-year term.
