At a meeting with local media, Alrosa’s head of corporate finance Sergey Takhiev said that healthy global demand for jewellery and a decline in diamond production would be key facts in rejuvenating the market.
“The rapid development of the online jewellery trade has allowed jewellers and retailers to structurally reduce their inventory needs. As a result, the process of normalising inventories took a long time,” he explained.
“However, the decline in production observed in recent years due to the natural depletion of the global resource base and the growing capacity of the luxury goods and jewellery market, in particular, are factors that will ensure growth in prices for diamond products in the long term.”
In a related story, deputy CEO Vladimir Marchenko is leaving Alrosa after seven years with the company. He is currently the head of the Russia-Zimbabwe Business Council.
CEO Pavel Marinychev said that Marchenko had made a significant contribution to the development of not only the company but also the diamond industry at large.
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