Moscow. October 19. The largest chain of jewelry stores in the U.S., UK and Canada Signet Jewelers Limited has become a long-term client of ALROSA, the information on the website of the Russian diamond digger.
Representative ALROSA has confirmed this fact. The contract was signed with the company Signet Direct Diamond Sourcing Limited.
So far Signet acquired a diamond “ALROSA” on the spot market. The negotiations with Signet to conclude long-term contract “ALROSA” waged since the beginning of last year. Now long-term clients of ALROSA are the largest international jewellery network Tiffany, and Chow Tai Fook.
Long-term clients of ALROSA purchase guaranteed volumes of raw materials on monthly trading sessions, the basic parameters are the price and limit selection – pre-approves market Council of ALROSA in accordance with the dynamics of the global market. The box includes every customer as requested SKUs and raw material, proposed the “ALROSA”. Long-term clients account for about 70% of total sales ALROSA. About 20% of sold diamonds sold on the spot, mostly abroad, and only 10-12% bought by Russian customers.
Signet became the first client of ALROSA in the United States. In addition to Signet, the “ALROSA” 48 long-term clients, including 10 companies, 16 Belgian, 12 Indian, 5 Chinese, 4 Israeli and one Belarusian. Among them, the world jewellery network Tiffany, and Chow Tai Fook, the major dealers and diamond manufacturers Rosy Blue, Pluczenik, and Tache, the Russian “Crystal” (Smolensk), “Ruiz diamonds” and “EPL diamond”.
In network Signet are about 3.6 thousand jewelry stores operating under the brands Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H. Samuel, Ernest Jones, Peoples and Piercing Pagoda. Annual sales of Signet – about $6 billion.