AuctionsSep 17, 2025
Mythical Set of Patek Philippe Pocket Watches Expected to Sell for $10M+A set of four Patek Philippe “Star Caliber 2000” pocket watches is part of Sotheby’s upcoming auction in Abu Dhabi.
SourcingJan 22, 2021
Alrosa Ends Difficult Year With Strong Q4
The miner’s sales were down for the full year, but it is not as bad as it could have been considering sales ground to a halt mid-year due to the pandemic.
Alrosa’s rough and polished diamond sales dropped 16 percent on the year but rose 33 percent in the fourth quarter due to recovering consumer demand in the second half of 2020. (Photo credit: Alrosa)
Moscow—Sales fell by double digits for Alrosa in 2020, but the company ended the year on an upswing it says has continued into 2021.
The diamond miner reported Thursday that revenue from rough and polished diamond sales totaled $2.8 billion in 2020, down 16 percent year-over-year. But fourth quarter sales rose 33 percent year-over-year to $1.22 billion.
In volume terms, Alrosa’s annual sales totaled 32 million carats, down 4 percent year-over-year but up more than double in the fourth quarter, as the recovery in consumer demand that started in the second half of the year in China and the United States accelerated.
“Many U.S. retailers launched their holiday offers early to ensure a more even distribution of demand and allow for social distancing,” the company said in the release announcing Q4 and full-year results.
“As a result, the Christmas holiday season in the U.S. kicked off with strong online sales as the pandemic pushed consumers to shop online. Another sustainable trend in the retail sector is the steady recovery of sales in mainland China, where travel restrictions make Chinese consumers spend more domestically.”
Jewelers interviewed by National Jeweler in the month of December said the same; consumers were shopping early to avoid the crowds.
And they were spending money that couldn’t be used for travel, dining out and other experiences on jewelry, particularly diamond jewelry.
RELATED CONTENT: Strong Start Has Jewelers Hopeful for the Holidays
In a Jan. 7 webinar hosted by National Jeweler, guests Edahn Golan, Peter Smith and Sherry Smith all commented on diamond jewelry’s strong performance in 2020, which they attributed to it being a low-risk choice in an uncertain time and the pandemic spurring proposals.
“When people feel stressed and anxious and you’ve got all of this uncertainty in your life, you’re going to make safe choices,” Peter Smith said. “Diamonds are a very safe choice. I’m waiting to see the first T-shirt that says, ‘I’ve got too many diamonds.’
“That just doesn’t happen. They just continue to be a safe choice.”
RELATED CONTENT: Watch—Our Webinar on 2021 Predictions
In addition to sales declining, Alrosa’s production also dropped in 2020, falling 23 percent in the fourth quarter to 7.1 million carats and declining 22 percent on the year to 30 million carats total.
Alrosa and the world’s other main diamond supplier, De Beers Group, dialed back production last year to save money as COVID-19 halted
business worldwide. Some diamond mines closed entirely for a period while others operated at reduced capacity with skeleton crews.
Alrosa started the year with a production goal of 34 million carats but scaled back to 28-31 million carats about halfway through 2020, ultimately ending the year right in the middle of that range.
It also allowed customers additional flexibility—which the miner has extended into 2021—and implemented a “price-over-volume” strategy, which helped stabilize rough diamond prices during the crisis, all in the interest of the sustainability and stability of the diamond industry, Alrosa said.
In the early months of 2021, Alrosa said diamond cutters and polishers are increasing production to 100 percent capacity after having to cut back in 2020 due to COVID-19.
They anticipate stable orders in the first quarter of the year, as diamond dealers and retailers look to replenish inventories following the holiday season and, in China, ahead of the new year on Feb. 12.
Alrosa started the year with a production goal of 34 million carats but scaled back to 28-31 million carats about halfway through 2020, ultimately ending the year right in the middle of that range.
It also allowed customers additional flexibility—which the miner has extended into 2021—and implemented a “price-over-volume” strategy, which helped stabilize rough diamond prices during the crisis, all in the interest of the sustainability and stability of the diamond industry, Alrosa said.
In the early months of 2021, Alrosa said diamond cutters and polishers are increasing production to 100 percent capacity after having to cut back in 2020 due to COVID-19.
They anticipate stable orders in the first quarter of the year, as diamond dealers and retailers look to replenish inventories following the holiday season and, in China, ahead of the new year on Feb. 12.
More on Sourcing
The Latest
TrendsSep 17, 2025
Silvia Furmanovich’s Book Tells the ‘Journey of a Jeweler’The Brazilian jeweler’s latest book marks her namesake brand’s 25th anniversary and tells the tale of her worldwide collaborations.
WatchesSep 17, 2025
Bob’s Watches Acquires Vintage Rolex Won on ‘The Price is Right’ The Submariner Ref. 1680 with a Tiffany & Co. dial came from the original owner, who won it as a prize on the game show in the 1970s.
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment ProgramWith their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.
TechnologySep 17, 2025
Jewelers Mutual Launches Shipping Solution App for Shopify The new integration allows users to manage shipments directly from the Shopify dashboard.
Weekly QuizSep 12, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsSep 16, 2025
Out & About: 7 Great Quotes From Converge in CarlsbadAt Converge 2025, Editor-in-Chief Michelle Graff attended sessions on DEI, tariffs, security, and more. Here are her top takeaways.
CrimeSep 16, 2025
2 Robbery Suspects Killed in California Pawn Shop ShootoutSix people were shot last week at an Oakland cash-for-gold shop as employees exchanged gunfire with individuals trying to rob the store.
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
CollectionsSep 16, 2025
Chopard Adds New Designs to Its ‘Ice Cube’ Capsule CollectionThe jeweler has expanded its high jewelry offering, which launched last year, with new pieces featuring its cube motif that debuted in 1999.
EditorsSep 15, 2025
Skipping the Necklace, Embracing Snakes: The Best Jewelry From the 2025 Emmy AwardsAssociate Editor Natalie Francisco shares eight of her favorite jewelry looks from the 77th annual Primetime Emmy Awards, held Sunday night.
SurveysSep 15, 2025
Resilient Shoppers to Boost Holiday Retail Sales, Says DeloitteIt’s predicting a rise in retail sales this holiday season despite economic uncertainty and elevated inflation.
SourcingSep 15, 2025
AGTA Elects 8 Members to Board of Directors The newly elected directors will officially take office in February 2026 and will be introduced at the organization’s membership meeting.
EditorsSep 12, 2025
Out & About: Mining Sapphires in Rock Creek, MontanaAssociate Editor Lauren McLemore headed out West for a visit to Potentate Mining’s operation hosted by gemstone wholesaler Parlé Gems.
TrendsSep 12, 2025
Piece of the Week: Arunashi’s Fordite and Rhodolite EarringsFordite is a man-made material created from the layers of dried enamel paint that dripped onto the floors of automotive factories.
Events & AwardsSep 12, 2025
Al Gilbertson Wins 2025 Robert M. Shipley AwardGilbertson has worked as a researcher, jeweler, lapidary artist, appraiser, and business owner throughout his decades in the industry.
Policies & IssuesSep 11, 2025
Supreme Court to Hear Tariffs Case in November A decision likely won’t come until January 2026 at the earliest, and the tariffs remain in effect until then.
MajorsSep 11, 2025
Tabayer Opens Nordstrom Shop-In-ShopLocated in the revamped jewelry hall at the retailer’s New York City flagship, this opening is Tabayer’s first shop-in-shop.
SourcingSep 11, 2025
Need to Sell More Natural Diamonds? De Beers Has an App for ThatThe new, free app offers accessible educational content, like games and podcasts, for U.S. retailers.
MajorsSep 10, 2025
Stuller to Swap Gold Scrap for Full Credit to AccountAs the gold price rises, the manufacturer is offering a 100 percent payout through Sept. 30 for gold clean scrap.
SourcingSep 10, 2025
Tech Meets Style in the New Loewe x Jacob & Co. HeadphonesJacob & Co. partnered with the German technology company on two pairs of headphones, one set with diamonds and the other with sapphires.
TrendsSep 10, 2025
Tiffany & Co. Archival Jewels Bring Life to ‘Frankenstein’Guillermo del Toro’s 2025 “Frankenstein” will feature 27 jewels and objects from the storied brand, including pieces from its archives.
MajorsSep 10, 2025
24 Karat Club of New York’s Banquet to Return to Waldorf AstoriaThe Waldorf Astoria New York’s grand reopening this past summer means a homecoming for the industry group’s annual event.
SourcingSep 09, 2025
Anglo American to Merge With Canadian Copper Miner Anglo plans to merge with Teck Resources Ltd. to form Anglo Teck. The deal changes nothing about its plans to offload De Beers.
AuctionsSep 09, 2025
‘The Mellon Blue’ to Return to Auction, This Time at Christie’s The 9.51-carat fancy vivid blue diamond, which set two world auction records at Sotheby’s in 2014, is estimated to fetch up to $30 million.
AuctionsSep 09, 2025
Phillips Names Dianne Batista Head of Jewels, New YorkThe industry veteran joins the auction house as it looks to solidify its footprint in the jewelry market.
MajorsSep 09, 2025
MJSA Education Foundation Announces 2025 Scholarship WinnersThe nonprofit awarded four students pursuing a professional career in jewelry making and design with $2,250 each.
IndependentsSep 08, 2025
Take a Look Inside the New Korman Store in AustinThe Texas-based jeweler has also undergone a brand refresh, debuting a new website and logo.
