It is clear that diamond origin is very important for retail consumers. It not only guarantees confidence, but also positive emotional perception of a piece of jewelry. It is always a pleasure to buy something responsible and eco-friendly, isn’t it?
Provenance is also important for industry participants. First, it secures their reputation, which is vital for the market, and second, it gives them an additional competitive advantage and differentiating factor.
Alrosa and market research company GfK conducted a survey among 4,000 people in the United States and China. They were asked different questions about diamonds and jewelry, and one of the questions was, “Are you interested in your diamond’s origin?” It turns out that 71% of respondents in China and 63% of respondents in the U.S. are interested in diamond origin.
The research confirms that consumers need additional information about the diamonds in their jewelry. One of the most important topics today is social responsibility. It was ranked number 3 in China and number 2 in the U.S. Other important factors are: information about the age and appearance of a rough diamond, when and where it was mined, and where and how it was cut.
Alrosa has its own approach to diamond provenance. Having its own cutting facilities lets the company sell directly to jewelry companies—or even directly to consumers. Closed in-house processes give a 100% guarantee of diamond origin for those who buy diamonds directly.
There are a few ways to provide information about diamond origin: digital passport and customized shareable materials. Alrosa expanded standard certificate layout in accordance with consumers’ provenance needs. A digital passport contains all of the main diamond characteristics, as well as its mining and polishing history. You can even see the name and experience of the diamond cutter.
Alrosa has also developed a special video to instruct on diamond provenance. It is absolutely unique and customized for a diamond and its consumer.
Alrosa operates its own in-house cutting and polishing branch, Diamonds of Alrosa. In 2018, it began concentrating on fancy color and unique diamonds. Alrosa has set the goal to become the leader of the fancy color diamonds market. Being the largest miner, Alrosa aims to be the largest producer of fancy color diamonds by volume.