New luxury jewellery retailer launches in St. Petersburg

2012-01-04



The diamond manufacturer Alrosa has entered the jewellery retail market in Russia, launching its first 1829 luxury jewellery stores in St. Petersburg. The value of investment per store is RUB 120m ($3.8m) with an estimated return on investment of 3-5 years. Alrosa plans to open three stores in St. Petersburg in 2012 with the first due to open in the Vvedensky hotel (Bolshoy Avenue, Petrogradsky district) at the beginning of the year. So far the company has no plans to expand to other cities. However, allegedly the company is in acquisition talks with the Russian jewellery chains Russkiye brillianty and Russkoye Zoloto, in which Alrosa is a potential buyer.
Alrosa accounts for 97% of the total diamond extraction market in Russia and 25% of the global market in value terms.