TrendsMar 09, 2026
Jake Gyllenhaal Is Bulgari’s Latest AmbassadorBulgari named Gyllenhaal as its brand ambassador for his embodiment of artistic depth, intellectual curiosity, and warmth.
SourcingMar 11, 2020
Alrosa’s Diamond Sales Falter in February
After a strong start to the year, uncertainty surrounding the continuing spread of COVID-19 weighed on the miner’s sales.
Alrosa’s Udachny open-pit mine in the Yakutia region of Siberia. The miner plans to mine 34 million carats of diamonds in 2020, down from 39 million carats last year. (Photo courtesy of Alrosa)
Moscow—Alrosa’s diamond sales declined in February amid the continuing spread of COVID-19, and the miner is cutting its supply forecast for 2020.
The Moscow-based diamond miner reported Wednesday that sales of rough and polished diamonds totaled $346.4 million, essentially unchanged from $345.6 million a year ago but down 14 percent from January, a month in which it saw a double-digit increase in sales as cutters restocked.
“In February, the uncertainty with the spread of COVID-19 started to weigh negatively on the demand and customers’ activity, the factor that will be impacting demand in the coming months,” said Evgeny Agureev, Alrosa’s deputy CEO. “However, we continue to pursue ‘price-over-volume’ strategy to keep prices stable rather than increasing sales volumes.”
In an analyst briefing held Tuesday in conjunction with the release of its full-year 2019 results, Alrosa said COVID-19 poses a setback to an industry that’s just emerging from a difficult year.
“The diamond industry came out of 2018/2019 crisis year healthier, with balanced stocks, disciplined supply management across the chain, and a more financially sustainable mid-stream segment,” the company remarked.
“However, in the short-term certain headwinds … such as the COVID-19 outbreak could decelerate demand recovery, which started to materialize in the second half of 2019.”
Alrosa finished 2019 with a 21 percent drop in revenue to 238 billion rubles ($3.3 billion) and net profit falling 31 percent to 63 billion rubles ($885.6 million).
The diamond miner saw rough diamond sales sink 26 percent on the year as it allowed clients to buy less in the face of faltering demand, excess supply in the pipeline and manufacturers’ continuing difficulties in securing financing.
Miners like De Beers and Alrosa are also grappling with the increasing amount of diamond jewelry sold online, as e-commerce sites do not have to hold the same level of inventory as brick-and-mortar stores with showcases to fill.
The diamond market picked up in August as consumer activity recovered in key sales markets in the second half of the year, particularly in the United States, Chief Financial Officer Alexey Philippovskiy said.
Alrosa finished the year with fourth quarter revenues up 5 percent year-over-year.
The company said in its analyst briefing that its mid- to long-term outlook for the diamond industry remains optimistic, due to a growing middle class in countries like China, India, Vietnam and Indonesia, and shrinking supply.
In November, Alrosa announced it was cutting its production
forecast for 2020 due to higher-than-average inventory at the end of 2019.
It expects to mine 34 million carats, down from 39 million carats last year and the 38 million carats it originally forecast.
It expects to mine 34 million carats, down from 39 million carats last year and the 38 million carats it originally forecast.
More on Sourcing
The Latest
Events & AwardsMar 09, 2026
TJS Announces 2026 Scholarship WinnersAwards were given to four students, one apprentice, and an emerging jeweler.
AuctionsMar 09, 2026
Joanna Carson’s Jewels Lead White-Glove SaleThe top jewelry lot of the late model’s estate sale, hosted by John Moran Auctioneers, was an Oscar Heyman & Brothers for Cartier necklace.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
GradingMar 06, 2026
Tom Moses Leaving GIA After Nearly 50 YearsMoses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.
Weekly QuizMar 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price PressuresIncreased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
MajorsMar 06, 2026
Pomellato’s 2026 IWD Campaign Spotlights Economic Abuse“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Events & AwardsMar 05, 2026
AGS Announces Conclave 2026 Speaker LineupThe annual event will be held in Orlando, Florida, from Sept. 14-17.
TrendsMar 05, 2026
Caitríona Balfe Fronts Only Natural Diamonds CoverThe “Outlander” star modeled for the digital cover of the magazine’s spring issue, which features a story on her relationship with jewelry.
MajorsMar 05, 2026
Registration Opens for CIBJO Centenary CongressThis year’s annual congress, which will mark the confederation’s 100th anniversary, will take place this fall in Italy.
MajorsMar 04, 2026
Michael M Opens First StoreBeverly Hills was chosen as the location for the brand’s first store, designed as a “private residence for modern monarchs.”
Policies & IssuesMar 04, 2026
Luxury Brands Temporarily Shutter Middle East StoresKering, Apple, and other retailers have reportedly temporarily closed stores in the Middle East region in light of the recent conflicts.
EditorsMar 04, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
Events & AwardsMar 04, 2026
JIS Miami Spring Show to Feature New Gifts Pavilion, Pop-Up Trends TalksNearly half of buyers are prioritizing silver and fashion collections this season, organizers said.
TrendsMar 04, 2026
Spinelli Kilcollin Rides Free In Year of the Horse CampaignThe “Live Now. Polish Later.” campaign features equestrians wearing the brand’s jewels while galloping across the icy plains of Kazakhstan.
MajorsMar 04, 2026
LeachGarner Names New Brand DirectorThe precious metals provider has promoted Jennifer Ashworth to the role.
Events & AwardsMar 03, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on March 13.
MajorsMar 03, 2026
Swiss Refiner Completes Acquisition of Gannon & ScottThe American precious metals refiner’s day-to-day operations remain the same post-acquisition.
TrendsMar 03, 2026
Amanda’s Style File: AquatopiaThese aquamarine jewels channel the calming energy of the March birthstone.
Events & AwardsMar 03, 2026
AGTA Adds Another New Category for SpectrumThe “Innovative Design” category and award will debut in the Spectrum division of this year’s AGTA Spectrum & Cutting Edge Awards.
EditorsMar 02, 2026
Jewelry at the Actor Awards: Reimagining Hollywood GlamourDiamond jewelry was the star of the event formerly known as the SAG Awards.
SurveysMar 02, 2026
Consumer Confidence Edges Up in FebruaryConsumers were somewhat less worried about the future, though concerns about rising prices and politics remained.
