Art-KARAT plant acquires jewelry retailer ADAMAS

The acquisition of the oldest omnichannel jewelry retailer in Russia ADAMAS by the owners of the youngest player in the jewelry production and retail market, the Belgorod jewelry factory Art-KARAT will take place in July 2021.
The ADAMAS company, which has 180 stores in more than 70 cities of Russia, and the Art-KARAT plant are among the top 10 market players in terms of revenue. In 2022, the number of stores of the updated network should increase to 250, Art-KARAT reported.
"An acute problem suffered by retail chains now is due to a shortage of assortment and working capital, which has arisen in the conditions of a 50-70% rise in the price of raw materials for jewelry production and harder conditions for interaction between suppliers and sellers. In my opinion, the combination of a trading network and a production operation specializing in highly liquid goods will contribute to the growth of sales and accelerate the movement of working capital. As a result, the buyer will be where there is more choice. In the future, we can talk about creating a leading enterprise in the jewelry industry operating in the domestic market," commented Eduard Utkin, General Director of the Jewellers’ Guild of Russia 

Alex Shishlo for Rough&Polished