ALROSA announced that six additional companies — Chow Sang Sang Jewelery from China, Kapu Gems, Mohit Diamonds and VD Global, all from India, the UAE operations of India’s M. Suresh Company and Richold SA from Switzerland.
ALROSA said that despite its focus on established manufacturing firms for its client base, companies like Chow Sang Sang, which is one of the largest jewellery retailers in the world, are also considered for their effectiveness in the diamond value chain.
With the additions, ALROSA now has 59 long-term clients for gem-quality diamonds and 10 for industrial goods.
As is required of all long-term contract clients, the six were participants in the ALROSA Alliance program, which enables the use of a logo indicating regular rough diamond supplies from ALROSA and the repetitional assurance of being a reliable industry stakeholder.
Long-term contracts guarantee assured supplies of specific assortments and the open the door to additional purchases of other categories as well. The contracts also bring price stability in a volatile global market.
ALROSA also announced that two Belgian companies — H.D. Diam BVBA and IGC Group NV, which were former spot clients, have been moved into the list of candidates for possible long-term contracts. ALROSA Alliance agreements will be signed with them.
ALROSA United Sales Organisation (USO) Director Evgeny Agureev commented, “Long-term contracts form the basis of ALROSA's sales policy accounting for up to 70 percent of sales.” He added that the company insisted on full compliance by long-term clients with ALROSA Alliance principles.
ALROSA has previously dropped those it deems are not contributing significantly to the value chain from its long-term client list.