Alrosa to Open $50 Million Jewelry Chain in Russia
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21.06.07, 11:36
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Retail
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Diamond World quotes a report by the Russian newspaper Vedomosty according to which Alrosa is considering opening a chain of diamond jewelry stores in Russia.
Alrosa President Sergey Vibornov reportedly stated that Alrosa may open 50 stores in Moscow and other large cities in Russia over a five-year period, with Armenia serving as a manufacturing base. The jewelry will be high-end and target men, women and children. Prices will start at $800.
In response, the Vice President of the Russian Diamond Manufacturers Association Ararat Evoyan called the venture "a reckless scheme."
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By: Rachel Lieberman, Israel Diamond Industry Portal
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