INTRIGA, a chain of jewelry stores, which is the winner of the contests for Russia’s Best Jeweler Network and Best Jewelry Store, collaborates with renowned jewelry companies, such as Aesthete, Lucas-Zoloto, Ringo, Petrozoloto, Russkaya Yuvelirnaya Compania, Choron Diamond, Master-Brilliant, Brillianty Kostromy and others. Natalia Zheleznova, the owner of the INTRIGA trademark and jewelry network, told Rough&Polished about her company’s diamond jewelry sales and also shared her views of what is going on in the Russian jewelry market.
What makes jewelry sales successful nowadays? What do you place your stake on?
The success of sales is virtually dependent on everything - from the design of your salesroom making customers comfortable to the appearance, competence and sociability of salespersons. But it is more important, of course, to have a product range that should satisfy consumer demand and comply with global fashion in jewelry. We are proactive about trade fairs and contests, and we have established strong partnerships with prominent jewelry firms in Russia being aware that their number is growing every year. And we bet on the variety and wide range of jewelry, from classic to contemporary. Our company is constantly renewing its collections.
What do you find of major interest visiting international jewelry shows: design or world prices for jewelry goods?
Lately, it’s turning a custom to praise Hong Kong exhibitions. Of course, we are interested in everything: marketing techniques and price levels as well. But first of all it is design and trends, the latest fashion tendencies. We would like our suppliers to be more particular about new achievements of jewelry designers and refresh their lineups more often. When we buy new items at jewelry shows, they are quickly sold - Russian buyers are sensitive to novelty. Right now the Onyx Company is producing marvelous things with Chinese diamonds. These are stones with 17 facets; of course, there is a difference between 17 or 57 faces, as in the classic cut. But they are much cheaper, and in combination with a fresh design they look commendable and sell very well.
What happens to goods which are not sold, do you return them or sell at a discount?
We select our products - for instance, we are given goods for six months to sell them. We work on commission and our markup is small: 35-60 percent. Some of the goods we return to suppliers. We can return goods which are not sold and replace them with other products if we deal with our permanent suppliers. We update our product range about once every three months. We do not offer discounts, but we run promotional actions and make gifts to our customers – typically, these are small souvenirs, umbrellas, or jewelry care kits.
In what way has the increase in gold prices affected the cost of jewelry?
So far, we have not raised our prices – perhaps, they will start to go up in the fall. Soon we shall enter the season of jewelry shows, JEWELER and JUNWEX, to be held at the All-Russia Exhibition Center, we shall see then what has to be done.
What has changed in recent years in consumer preferences?
Recently, diamond jewelry started to sell easier. Buyers turned much choosier and better informed. There is a lot of information about jewelry in the Web - how to choose diamonds and what to look for. Online sales have exacerbated competition, but also aroused a taste for diamonds and it is quite noticeable. Diamonds are chosen carefully, and buyers pay great attention to their clarity and carat weight. Still, diamonds remain to be a symbol of reliability. And they will continue to be such - I think the polished market will always prosper. Diamonds are both multi-meaning and meaningful things.
And what do you go by when choosing jewelry?
Beauty. I never looked at jewelry as a means of investing money. I just want to make my life more beautiful. And I also would like to bring this beauty of jewelry to people to intrigue them and to make them feel happy.
Galina Semyonova, Rough&Polished
