ALROSA has presented its customers with a new concept of creating a list of partners eligible for signing long-term agreements and new rough diamonds allocation principles, which will be relevant for the 2022–2024 contract period.
In 2021, the company’s thorough analysis of the situation showed the need for adjusting its goods allocation model under long-term contracts. As a result, ALROSA has developed a new system, which ensures that specifications meet clients’ requirements as closely as possible. This new system, in addition to the client’s purchase history, takes into account the specific business needs of each diamond consumer category, such as diamond cutters, traders and jewellery retailers.
“The diamond market has successfully overcome two of the gravest shocks in a row. The local industry crisis in 2019 and the subsequent global coronavirus pandemic have transformed the industry, making it much more transparent and open for discussions. After the transitional period of 2021, the time has come to start a new contract period. On the other hand, the market needs a new model of long-term agreements in rough diamond trade to help withstand external shocks. The key distinction of this new system is its division of contracts and goods depending on the clients’ business activity . We give special priority to creating added value at all stages of a diamond’s journey. The continuous open dialogue we have been having for recent years has allowed us to improve the understanding of our customers’ needs even further. Thanks to this, we are now able to tailor extremely unique specifications for each client, ensuring the most effective buyout. This approach has been approved by the regulatory body, so the January 2022 trading session will follow these new rules,” said Evgeny Agureev, Deputy CEO of ALROSA.
Vladimir Malakhov, Rough&Polished
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