Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

Yesterday

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Online sales of 585*GOLDEN increased by 89% in 2023

28 february 2024

Online sales of the 585*GOLDEN jewelry store chain increased by 89% in 2023 compared to the previous year. The company's total revenue increased by 30% and turnover by 29.9%, amounting to 40 billion rubles excluding VAT.

According to the press service of 585*GOLDEN, in 2024, the retailer predicts an even greater increase in online sales by at least 100%.

The share of online sales in its total revenue currently stands at 10%. At the same time, e-commerce shows much higher demand in some regions.

In Moscow, online purchases account for 44% of all sales, in the Kamchatka Territory - 42%, in the Nizhny Novgorod region - 39%, in the Kostroma, Samara and Sakhalin regions - 38% of total sales.

The jewelry network's customer base now stands at more than 21 million individuals. In terms of the number of retail outlets, 585*GOLDEN remains the largest jewelry store chain in Russia with 965 stores in 420 Russian cities.

Alex Shishlo for Rough&Polished