Top Russia diamond miner Alrosa raises its marketing spend
Aside from promotion, the Russian miner expects to focus on cutting bigger stones and also to team up with partners for polishing
Moscow — Alrosa PJSC, the world’s largest diamond miner by output, is increasing its marketing efforts and targeting new opportunities in gem cutting at a time when the market is showing signs of starting to stabilise. The Russian firm, which typically hasn’t promoted stones outside Russia, last year contributed $25m to the Diamond Producers Association for marketing and may increase sponsorship this year, Chief Executive Officer Sergey Ivanov said. Alrosa also plans to focus more on cutting premium stones and may consider buying Russia’s top polisher if it gets privatised. Alrosa has traditionally focused on rough-diamond mining but is gradually changing its business after Ivanov, 37, became CEO a year ago. One of the rare steps it has taken in the past year include traveling the world to promote the auction of five gems cut from a giant diamond. While the industry has struggled with stagnant consumer demand, the market benefited from a stronger-than-expected end to 2017. "DPA basi...
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