CrimeAug 12, 2026
Elderly NYC Woman Targeted in Jewelry Swap SchemeTwo suspects offered to trade the woman a “winning” lottery ticket for her jewelry.
SourcingApr 16, 2020
For Alrosa, Q1 Was a Tale of Two Halves
Like many companies, the diamond miner started off the year strong before business took a nosedive in February.
Alrosa started the first quarter with diamond sales up 15 percent over Q4 2019, but that changed in February as coronavirus started its global spread. Overall, gem-quality rough diamond sales dropped 10 percent year-over-year in Q1.
Moscow—Preliminary sales results released Thursday show the first quarter painted two different pictures for Alrosa.
Coming off a December and January in which diamond sales were “quite robust,” the mining company saw rough diamond sales increase 15 percent quarter-over-quarter to 9.4 million carats in the first half of Q1, with sales of gem-quality diamonds climbing 19 percent from the previous quarter amid a “gradual recovery in diamond demand.”
That changed in February, when the spread of COVID-19 brought markets worldwide to a halt.
Gem-quality rough diamond sales ended up being down 10 percent year-over-year in the first quarter, while industrial diamond sales dropped 13 percent.
Revenue from rough and polished sales declined 1 percent quarter-over-quarter and 10 percent year-over-year to $904 million, including $881 million in revenue from rough diamond sales and $23 million in polished.
Alrosa said the average realized price for gem-quality diamonds was $123/carat, down 17 percent quarter-over-quarter due to increased demand for bigger diamonds at the end of 2019 and flat year-over-year.
The diamond price index was down 1 percent quarter-over-quarter and 2 percent year-to-date in Q1.
Diamond production grew 2 percent year-over-year but was down 9 percent from the fourth quarter to 8 million carats. The year-over-year growth was due to increasing production at the Jubilee pipe and at the Aikhal and International underground mines.
Commenting on its first-quarter results, Alrosa noted 2020 started off relatively strong but then took a nosedive starting in February.
It said: “The diamond industry started 2020 in good shape as consumer sentiment improved across key markets for diamond jewelry, inventories at the midstream normalized, polished diamonds prices began to recover, and diamond sales were quite robust in December and January.
“However, the trend reversed as early as February, following the closure of markets in China and Hong Kong. The plunge worsened after COVID-19 spread to Europe and the U.S. The coronavirus pandemic had an impact on the economy across the world.”
The company is looking to China to spark the start of the recovery for the diamond business, noting it was the first hit but also the first to recover. It said the country will be “a key driver” as demand starts to pick up again.
Like De Beers, which canceled its most recent sight, Alrosa is allowing clients to defer diamond purchases while markets remain stagnant.
Looking ahead to the rest of
Editors' Picks
Sponsored by
2020, Alrosa has production pegged at 34.2 million carats, down from 39 million last year and the 38 million originally forecast, while sales volumes are too difficult to predict right now.
The company said sales will “depend on the COVID-19 epidemiological situation and respective measures taken globally.”
More on Sourcing
The Latest
CrimeAug 12, 2026
Jewelry Store Employee Gets 20 Years to Life in Choking Death of BossMichel Patrick DeSalles was sentenced after pleading guilty to the 2017 murder of Omid Gholian, who owned a jewelry store in Manhattan.
MajorsAug 12, 2026
Frederick Goldman Names New SVP of SalesLongtime industry executive Beth Miller has taken on the role.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
AuctionsAug 11, 2026
Verdura Unicorn Brooch With Royal Connection Up for Auction The brooch was owned by Virginia Fortune Ryan Ogilvy, who served as a lady of the bedchamber to Queen Elizabeth II for nearly 50 years.
Weekly QuizAug 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsAug 11, 2026
Signet Jewelers Selects Mattel Exec to Lead Zales, BanterJamie Cygielman will take on the role on Aug. 24.
IndependentsAug 11, 2026
Polly’s Fine Jewelry Co-Owner Richard Moore Dies at 69Moore, Polly’s husband, is remembered as a family man with an easygoing spirit and a love for sports and the outdoors.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
ColumnistsAug 11, 2026
Creative Connecting: How to Sell Colored Gemstones to Gen ZDuvall O’Steen and Jen Cullen Williams share the best ways to display, present, and explain colored gemstones to younger customers.
Events & AwardsAug 11, 2026
NAJA Announces Lineup For 2026 Fall Virtual ConferenceThe mid-year conference for jewelry and watch appraisers will take place Sept. 5-6 on Zoom.
TechnologyAug 10, 2026
Colorado Jeweler Launches Customization Tool He Built HimselfHonest Hands Ring Co. Founder Benjamin Bosworth shared his thoughts on jewelry technology and why AI can never replace the human element.
MajorsAug 10, 2026
QVC Exits Chapter 11 Bankruptcy, Names New Interim CEOQVC Group President and CEO David Rawlinson is temporarily being replaced by a familiar face, former QVC CEO Mike George.
CollectionsAug 10, 2026
State Property Puts a Ripple in the ‘The Voyager’ CollectionThe brand also added two one-of-a-kind brown diamond pieces to the “Sanssouci” series of its “Gardens” collection.
MajorsAug 10, 2026
And IJO’s 2026 Vendor of the Year Is … Ostbye took home top vendor honors at the Independent Jewelers Organization’s show, held last month in Kentucky.
Supplier BulletinAug 07, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsSponsored by Stratus Estate Buyers
MajorsAug 07, 2026
Retail Veteran Pam Cloud Appointed President of Blue NileCloud, who will officially join Blue Nile on Monday, spent 26 years at Tiffany & Co. and founded jewelry brand Roseate.
MajorsAug 07, 2026
Pandora Appoints Paulo Garcia as New CFO Garcia will take over from the company’s current CFO, Anders Boyer, who is retiring at the end of November.
MajorsAug 07, 2026
Etsy to Lay Off 12% of WorkforceEtsy CEO Kruti Patel Goyal explained why the company is letting go more than 200 employees as its performance improves.
TrendsAug 07, 2026
Look Ahead with Syna’s Binoculars PendantThe “Star Gazer” pendant, our Piece of the Week, is Syna’s tribute to curiosity and the discovery of something new.
CrimeAug 06, 2026
Lalique Museum to Remain Closed Following $5M HeistMuseum officials are looking to the public to help cover the “exceptional” costs involved in recovering from the July 5 smash-and-grab.
MajorsAug 06, 2026
Claire’s Revamps Piercing Services for Second Time in Three Years The overhaul includes enhanced employee safety training and trendy earring styles, including lab-grown diamond studs.
FinancialsAug 06, 2026
Brilliant Earth’s Q2 Sales Up 6%, Driven by High-Income ShoppersThe retailer said it had its biggest Mother’s Day ever, with strong demand for higher-priced jewelry.
TrendsAug 06, 2026
New Book on Handcrafted American Objects Highlights Jewelry“Handwork: Handcrafted Objects that Made America” features historic and contemporary works, including a Diné squash blossom necklace.
MajorsAug 06, 2026
AJA East Coast Names Ani Khachian as First Female President-ElectThe Armenian Jewelers Association’s East Coast chapter has also elected its 2026–2027 board of directors.
MajorsAug 05, 2026
Private Equity Firm Wants to Buy 100+ JCPenney StoresOnyx Partners has submitted a second offer to buy the department stores after its first offer fell through last year.
IndependentsAug 05, 2026
Atlanta Jeweler Introduces $10K MartiniSolomon Brothers Jewelers has partnered with local cocktail bar Roaring Social on a new martini garnished with a tennis necklace.
IndependentsAug 05, 2026
Another Member of the Siegel Family Joins Hamilton Jewelers Benjamin Siegel, son of President and CEO Hank Siegel, started working for the family business this week.
