ALROSA Appoints Pavel Vinikhin Director of Diamond Cutting and Polishing Outfit

Mining and Exploration
24/07/2017 09:35

Russia's ALROSA has appointed Pavel Vinikhin as director of DIAMONDS ALROSA – ALROSA’s cutting and polishing division, one of the largest diamond manufacturers in Russia, the company announced in a press release. In April 2016, he was appointed as deputy director for marketing of DIAMONDS ALROSA, and headed ALROSA Diamonds Ltd, a cutting and polishing factory in Barnaul. He has been managing DIAMONDS ALROSA since October 2016, when he was serving as acting director. Vinikhin is responsible for the development and modernization of manufacturing facilities, as well as development and implementation of a new marketing strategy aimed at the increase in sales and rise in profitability. 

ALROSA’s cutting and polishing complex comprises two enterprises: DIAMONDS ALROSA in Moscow and ALROSA Diamonds Ltd in Barnaul. DIAMONDS ALROSA work with large rough diamonds over 1.8 carats, including special size rough diamonds and those with unique color specifications. The division is engaged not only in the manufacture of polished diamonds, but in their sale as well. The bulk of products are sold by wholesale lots at monthly trading sessions, both for export and in the domestic market. ALROSA sold $54.9 million in polished diamonds during the first six months of 2017. They sold $122.3 million in the year 2016.

In 2016, the Supervisory Board of ALROSA approved an updated concept of the ALROSA Group’s sales policy, including a section “Polished diamond sales”. In accordance with the idea to develop polished diamond sales, ALROSA focused on cooperation with jewelry companies and large jewelry retailers on the basis of long-term contracts, marketing programs to create and promote the “ALROSA Diamonds” brand in key diamond markets, as well as forming a positive image of their products with end consumers of the diamond products. At the same time, in 2016, the company was developing its own IT-platform for selling diamonds and conducting online auctions to sell large and investment diamonds.