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Mahiar Borhanjoo returns to ‘The Heart Of The Diamond Business’

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Mubri president Ali Pastorini: You just need to play a transparent game and do everything possible to attract clients

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585*GOLDEN assesses wedding rings demand in Russia in 2024

20 may 2024

585*GOLDEN jewellery retail network published the results of an analytical study of wedding ring sales on the eve of the wedding season, which traditionally falls in the spring and summer months in Russia.

In 2023, rings without stones accounted for 71.2% of wedding products sold, and in 2024 their sales amounted 78.2%. These include classic smooth rings and design options: products made of textured metal, with filigree and weaving, rings made of two shades of metal in the sintering technique.

The share of wedding rings with precious stones also increased from 7.2% to 7.3%. But more budget–friendly silver wedding rings and wedding rings with cubic zirconia began to be in less demand among the brand's customers - when compared to 2023, their share decreased from 15.8% and 5.8%, respectively, to 10.5% and 4% in 2024.

The most popular models of wedding rings are classic smooth products without stones, made of 585 and 375 hallmark pink and yellow gold. Such rings of different widths – from 2 to 5 mm – make up the top 5 sale spots of the network in all cities of Russia. Minimalistic thin rings made of gold with a small central diamond were also included in the rating, but models with a hidden diamond and silver wedding rings with cubic zirconia, which were popular in 2023, have become less in demand.

Interestingly, engagement rings without stones and studded wedding rings, primarily with diamonds, are often bought together.

The average receipt for wedding rings increased by 25.7% compared to 2023 and amounted to 19,782 rubles on average per product, compared to 15,742 rubles in the previous year.

Alex Shishlo for Rough&Polished