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1/SPRING 2014 RUSSIAN MARKET 2014 directory TRENDBOOK the MAIN EVENTS of year Advertisement JCK Las Vegas Show 30 May – 2 June 2014 Booth No. B2181


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Professional quorterly 1 / SPRING, 2014 Dear colleagues! Magazine about Russian and CIS-countries jewellery market Publication of Jewellery Review Media Holding, MOSCOW. Editor-in-Chief T his year any serious problems to Russian jewelers are continuing. A state policy reduces to the increasing of the administrative burden on business and does not imply any measures to promote the development of domestic production of jewelry and still creates the problems. The efforts to create a total control department of the jewelry market are going on. Of course, the problems of smuggling and counterfeiting exist, but in the first case it is necessary to raise a claim against the Customs Service, and in the second one - to increase control of the retail, rather than of factories the products of which are totally checked by the Assay office anyway. The draft law prepared by the Ministry of Finance gives inspectors the right to reach any enterprises at any time. Unfortunately, the current leadership of the Jewelers Guild of Russia does not protect adequately the industry interests and prefers to agree with officials. The control is tightening while in the domestic market the competitiveness of Russian producers is declining continuously because of the absurd import duties on the colored stones etc. are kept. Today the import consists of over 50% of the Russian market volume, and the Chinese company «Sunlight» has the largest retail network of 800 (!) stores. No need to talk about lots of companies entering in the foreign markets, as export procedures are complicated and the Russian producers do not receive any subventions for participation in foreign exhibitions. Russian companies receive invitations to participate in the world‘s largest fairs, but only 10-15 companies take part regularly. For example, this year at JCK Las Vegas Show will exhibite two largest Russian jewelry producers – Diamant (trade mark Sokolov) and Almaz-Holding, also Treasure House, which specialised on Luxury and Premium segment. On the other hand, Russian jewelry market is take becoming more open to the import of high-quality natural stones and jewelry, the trading networks of Russia want to work with European and Asian brands. This issue of RDJ include a piece of Handbook in which you can find the most importфnt among them. September issue will be publish as a full-format «Russian Jewellery Market Directory-2014» in English. We offer you a subscription to this unique Handbook. Stay with us! Yours sincerely, Alexey Shcherbina, Editor-in-Chief Alexey SHCHERBINA, Ph Doctor (History) Managing Editor Irina SLESAREVA Experts&obcervers Artur Gumerov Igor Emelyanov Elena Sedova Vladimir Teslenko Vladislav Troyan Yuriy Schelementyev Design Sergey Khlebnikov Advertisement Division Marina Shchyolokova Circulation Division Nadezhda Korshakovskaya Web-site Ekaterina RAZMAKHAEVA E-mail: Finance Department Anzhela Shakhbanova Kosmonavtov str., 18/1 Tel./Fax: +7 495 682-2262 Tel. +7 499 709-1310, +7 499 709-1635; E-mail:, The editorial office is not responsible for the content of advertisements. No part of Russian Diamonds & Jewellery may be reproduced without reference. This issue was authorized for publication on April, 2013­ . © Yuvelirnoye Obozreniye Registered by the Russian Federation Committee for the Press. Certificate No. 018300


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MARKET Nanocrystals are entering the Russian market 13 RKET VIEW CONT E NT S Italy as a lifestyle VicenzaOro Winter 14 What «the Amber Revolution» is leading to? COVER 18 Model Irina Volodchenko Jewellery Almaz Holding company “Two Shows, Two Venues” a Success HKTDC 2014 20 “It is easy to work with us” Sisom Logistics 25 MARKET Things will surely change. And let us hope for the best Top-11 of the 2013th 4 2 RUSSIAN DIAMONDS & JEWEL L E R Y SPRING, 2 0 1 4


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DESIGN T re n d b o o k 32 ● Time to wear the «cocktail» ● Ultraviolet ● Under a voile ● Holiday ● Handwork ● For a wrist ● Amour Nocturne ● Walk about hell ● A thrilling game ● Zoo Black is a men’s choice 44 CONT E NT S Directory Jewellery retail in Russia 48 The main Russian jewellery producers 54 SPRING, 2 0 1 4 RUSSIAN DIAMONDS & JEWE L L E R Y 3


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CASE Things will surely change. Top-11 of the 2013th And let us hope for the best During the last year the changes in the Russian jewellery market had evoked the essential events which have had the greatest influence on the development of the market and most likely will have far-reaching consequences The worldwide success of the Jewellery Review‘s nominees March 7 Two pieces which were entered to Hong Kong for International Jewellery Design Excellence Award as the winners of the III Moscow contest of jewellery design «Russian line-2012», carried out by Jewellery Review Magazine, were among 10 others winners. Thus the set of «Butterfly» by Ilgiz Fazulzyanov was awarded the Grand Prix and the title of Champion of the Champions. In the course of the IJDEA the best jewelry among the winners of national contests are determined every two years. This time the jury considered more than 200 pieces: from France, Australia, India, USA, UAE, Hong Kong, Brazil, Germany, India, the Republic of South Africa were among the winners. But for all that only two countries, USA and Russia, have received two titles. In the nomination of «Distinction Award» the ring «The first drop secret» by «Estet» company which had received the Grand Prix of «Russian line-2012» has become one of winners. The contest has been held by «Jewellery Review» since 2008. Its name «Russian Line» sym- 1 bolizes a national idea in jewellery design by means of the concept of «Russian world» - a product created by the multinational ethnos which unites the space of the former USSR and our compatriots in dozens countries of the world. The main purpose of the contest is to determine the best works of modern jewelers and to take out their names in the world market. The application of Alexey Shcherbina, the chairman of the organizing committee «Russian line» to assign a rank of the Honored artist of Russia to Ilgiz Fazulzyanov is under consideration in the Ministry of Culture. The Russian President Administration, the head of Gokhran of Russia Andrey Yurin and many representatives of jewellery community had supported this petition. A point of honor of the jewellery community is to reward according to his deserts the outstanding master, to raise reputation of the Russian jewellery art and the country as a whole. Our country has not known such outstanding victories since the time of Fabergé! SPRING, 2 0 1 4 4 RUSSIAN DIAMONDS & JEWEL L E R Y


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R E PO R T Jewellery Design Excellence Award-2013 Set «Butterfly» Ilgiz fazulzyanov foto: ©HKTDC SRRING, 2 0 1 4 RUSSIAN DIAMONDS & JEWE L L E R Y 5


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CASE 1815 Rattrapante Perpetual Calendar A. LANGE & SÖHNE The State Duma Committee for Industry had supported the draft agreement about mutual acknowledgment of official marks at watches made of precious metals between Russia and Switzerland. The agreement had been signed in Moscow on December 14, 2011, and in February 2012th Switzerland officially notified the Russian Federation that the interstate procedures needed for the entry the agreement into force had been executed. Switzerland considered this agreement as one of terms of Russia‘s entry into the World Trade Organization. After the agreement ratification the watches made of gold, silver, platinum and palladium, which are imported into Russia and have the prints of the Swiss Confederation official mark, of the brand manufacturer and of the statu- 2 The Swiss mark was acknowledged in Russia March 20 tory standard sample, are not exposed to test and mark with the Russian Federation mark. Conformably, when the Russian watches made of precious metals are imported to Switzerland a similar procedure is not provided. In August the first deliveries of the Swiss gold watches were made in accordance with the new rules. Certainly, we are not talking about any equivalent amounts of the Russian exports of watches to Switzerland, the significance of this agreement is that for the first time since Peter I the Russian state monopoly to test and mark the articles made of precious metals has been broken. In such a way, a precedent that could be extended onto other countries and other commodity groups, primarily jewellery, had been created. China comes to us with the exhibition April 14 The agreement between «UBM Asia» and «RESTEC JUNWEX» about joint holding of the largest Russian exhibitions: The February «JUNWEX-Petersburg» and the autumn «JUNWEX- Moscow», and also the May «New Russian Style» which are included in the exhibits list that this Chinese company holds in Hong Kong (September), mainland China, India (Jewellery News Asia, August 2013). The «RESTEC» president Sergei Trofimov expects to attract more international participants to the joint exhibitions, and the «UBM Asia» president Jim Essink believes that thanks to this alliance the growing Russian market will be included in the world trade more intensively. The terms of the transaction are not disclosed by the parties; however it is known that 3 years ago «UBM Asia» purchased 65 % share of the Istanbul Jewellery Fair, which has been called since then as «UBM-Rotaforte». The Russian first exhibition under the direction of «UBM Asia» took place in St. Petersburg from 5 to 9 February, 2014. The price on the area is put in units that are equal to euro. In the conditions of falling ruble exchange rate it already meant the rise in price that will accrue. By the example of «Sunlight», which has developed more than 800 shops, it is clear that the forecast that foreign producers will enter the Russian market with their distribution networks and force out the Russian companies comes true. Now, probably, it is necessary to expect a direct massive expansion of Chinese products by means of the largest wholesale exhibitions for today. 3 6 RUSSIAN DIAMONDS & JEWEL L E R Y SPRING, 2 0 1 4


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«Adamas» presented Olympic medals May 30 5 In St. Petersburg, at a meeting of the Executive Committee of the IOC the medals of the Winter Olympics in Sochi, manufactured by the jewellery company «Adamas» were presented. The Olympic skating champion Svetlana Zhurova showed the awards produced with using the most modern technologies in the spirit of the «patchwork» concept which is a visual image of the Games-2014. The president of Russia Vladimir Putin got acquainted with a set of the Olympic and Paralympic medals. Specially for the presentation the organizers have constructed two podiums, where sets of awards for the winners of the Olympics and Paralympics were exhibited in accordance with significance. Medals are different by design; the Paralympic premium set is a little lighter in weight. Each medal is 3,94 inches in diameter and 0,39 inches in thickness, weight is from 1,01 to 1,17 pounds depending on the significance of awards. The champion medals are made of silver and 6,61 pounds of gold 999th test had been used for their gold-plating. The delegation of the company «Adamas» headed by the executive director Maxim Weinberg, took part in the torch relay of the XXII Olympic Winter Games 2014, which was held on January 18th in Voronezh. Seven more employees of the company: the manager of the project «Sochi 2014» Alexei Alexandrov, the shift supervisor of department of a mode and plant protection Gennady Nikolaev, the technologist of jewelry production Vadim Flyagin, the managing director of salon Anna Selyutina, the sales manager Marina Hammatova, the operator of assembly production Nadezhda Iyevliva, the deputy manager of service on transport logistics Renat Mannyapov had deserved the honour to become honourable torch carriers. The Games-2014 in Sochi will be a record by the number of represented sports, that is why the official Games supplier has produced a record number of sets of medals - 1300. It is the notable fact that this prestigious order had been placed on the jewelry factory: in the most countries of the world the production of medals is the sole power of mints. 4 CASE Jewelers suggested reforming The Assay Office June 27 The Governor of the Kostroma region Sergey Sitnikov, the chairman of the Kostroma Regional Duma Andrey Bychkov, the representatives of the Ministry of Internal Affairs, FSB, prosecutor’s office, federal and regional public organizations have taken part in work of the Congress. The reports were made by the Cochairman of «Business Russia» Alexander Galushka, by the chairman of Russian Federation Chamber of Commerce and Industry Committee on investment policy Anton Danilov-Danilyan, by the RUSSIAN DIAMONDS & JEWE L L E R Y The III Congress of the Russian jewellery market participants took place in Kostroma. Its work was based on the Presidential Decrees dated 12.05.07. Its purpose was to find out the factors slowing down the development of the domestic jewelry production and leading to the reduction of revenues to the budget at all levels. The introduced reform of the assay quality control proposes to eliminate its monopoly position and to create the more flexible modern forms of control with transferring of the focus to the segment of retail jewellery sales. SRRING, 2 0 1 4 7


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CASE chairman of industry department FMOS «Business Russia» Flun Gumerov, etc. In F.Gumerov’s, A.Danilova-Danilyan’s, I.Vdovin‘s reports the emphasis was placed on necessity to remove the inhibiting influence of the current system of assay quality control by means of eliminating of its monopoly position and creating the more flexible modern forms of control with transferring of the focus to the segment of retail jewellery sales. The participation of the federal organizations in the Congress allowed to look at the situation in the industry openmindedly, in the view of economy in general, and to turn to the reasonable arguments. For example, in the spring the Russian state and Switzerland concluded the agreement not to brand with the Russian Federation mark of assay the Swiss watches made of precious metals which are imported into our country, thanks to that the subject of sacrality and immunity of monopoly of assay quality control has been removed. A substitution for archaic administrative mechanisms of the state control by more effective market ones, including liability insurance - according to the presidential Decree - shall be the following step. By the results of discussion the draft resolution proposed by the working group of preparation of the Congress is unanimously approved in principle, the appeals to the Russian President Administration, to the Government of the Russian Federation and the Ministry of Finance are directed. August 1 Jewelers rejected the unreasonable requirement of Rosfinmonitoring 6 The participants of conference «Jewellery Market of Russia» which took place in October, unanimously condemned unreasonable ambitions of Rosfinmonitorg. In connection with coming into force an amendment to the law 115-FZ Rosfinmonitoring made demands of showing of passports and questioning of the buyers who are purchasing the jewelry on the amount of 15 thousand rubles and above. According to the existing information letter of Rosfinmonitoring No.2 of March 18th, 2009, if the sum of purchase of jewelry is less than 600 thousand rubles the client questionnaire might not be registered (Rosfinmonitoring Order No.59). A refusal to sell the wide assortment of goods without showing of the passport is the violation of the Civil code and the law «About Protection of the Rights of Consumers». The requirement of questioning has excited the jeweler market as the sales difficulty in the high season looked like not as the fight against terrorism, but as a blow against the whole industry. The lack of distinct reasons for questioning allowed the jewellery retail sellers to work as usual, while the jewellery community more strictly raised a question of preliminary examination of laws and regulations in the public organizations which represents particular areas of business. This is one of the requirements of Presidential decrees of the Russian Federation issued on May 7th, 2012. SPRING, 2 0 1 4 8 RUSSIAN DIAMONDS & JEWEL L E R Y


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CASE M. Weinberg at the conference «Jeweller Market of Russia»: «The domestic jewellery industry is noncompetitive because of the present fiscal and administrative load». What «the Amber Revolution» is leading to? Mysteriously disappeared from the region amber is being looked for in Kaliningrad August 1 It is known that in Kaliningrad region up to 90% of world amber reserves are concentrated. Recent years the Kaliningrad amber combine has constantly reduced its export deliveries: if in 2012 more than 170 tons were exported abroad, for August 1st, 2013 the official export was not more than 10 tons. And since August 1st the new combine’ management has declared of the complete termination of export. The motive for such actions is a sharp increase in the amounts of internal production of jewelry with the amber the share of which does not exceed 5% today. According to commerce combine’ department, from August to December about 120 local companies have received more than 210 tons of amber, and allegedly their capacities allow to process completely all 300 tons which the enterprise extracts annually. Earlier the chairman of Amber Union Vasiliy Simonov said that they made together with the region government the enumeration of 30 properly equipped enterprises having the qualified staff that are ready to process all raw amber of the region and to sell finished products abroad. Meanwhile it gives rise to doubts that the region has such real capacities, and it is possible to talk just about the reorientation of raw amber export from Europe to India and China: according to plans of organizers of the new Kaliningrad exhibition Amber World, tens of Chinese exhibitors will take part in this event. Now the Polish customs fixes the sharp growing of smuggling of amber from Russia. According to Customs Chamber in Olsztyn, if in 2012 at the Russian-Polish border 66 pounds amber were detained, then in the past year it was already 287 kg. On February 26th, the general meeting of of the Amber Union’s members took place in Kaliningrad. They discussed a situation of lack of raw materials that has never happened before. By the beginning of SRRING, 2 0 1 4 year it became clear that the local producers had got nothing from the promised 200 tons of amber, it all disappeared «in the unknown direction». The amber production in the region actually is being curtailed, the talks about an increase in workplaces which are so necessary for the region, have remained an empty phrase. The majority from 97 heads of the companies who were present at the meeting declared that it is very difficult to receive raw materials for production. As a result, 52 factories having not received a pound of amber have stood idle since the beginning of year, the workers of 25 companies who have not received a salary within several months, left or are sent to unpaid leave. The raw materials that the others have available, come to an end. The situation in settlements where the main part of population is occupied with the amber productions is especially heated up. The participants of the meeting paid attention that the Chinese websites selling raw amber materials are actively being promoted in a global web net. There is no opportunity to receive from Kaliningrad Administration any information of those who in the region can stand behind the projects of amber export. The customs does not open the persons engaged in the export. And those who tries to go against the developed system and begins actively looking for some information, are exposed to the most severe inspection by various state bodies. 7 RUSSIAN DIAMONDS & JEWE L L E R Y 9


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CASE Moscow jewellery forum and jewellery ball 8 September 13 The Moscow international jewellery forum «Developing the Russian Jewelry Industry and Strengthening its Role on the International Market» took place in Chamber of Commerce and Industry of the Russian Federation. During the forum the actual problems of industry, questions of the international integration of participants of the jewellery market, professional education, and also the artistic significance of jewellery art works were considered. The chairman of the Guild board of jewelers of Russia Gagik Gevorkyan welcomed the representatives of the Russian jewellery community, and also the guests from Ukraine, Canada, USA, France, Turkey, Lebanon, India. A number of TV channels and mass media paid their attention to the event. Having addressed to the participants and guests, the vice-president of Chamber of Commerce and Industry of the Russian Federation Alexander Rybakov designated as the main problem a tendency of increasing of the share of import in the Russian market and urged to create the conditions for more complete processing the gold and diamonds which are extracted in Russia into the jewelry and for heightening of volume of national jewellery production. The head of the industry department «Business Russia» Fluna Gumerova who made the concrete proposals for the nearest future, urged to secure in documents the items where the agreement with executive and legislative bodies was reached: the 5-day term of the marking, the cancellation of the obligatory marking of silver «lightweight» products and export consignments of jewelry, etc. F. Gumerov called for the execution of Presidential decrees of Russia of May 7, 2012 in which the necessary measures for stimulation of economy development, reduction of administrative load on business, assessment of work results of civil servants on the business side are accurately stated. «We need a constant dialogue with the authorities by means of which we are all together will be able to implement the Road map». In the framework of the forum the charitable ball «In glory of jewelers of Russia» took place. It was devoted to the 100 anniversary of the Jewelers Union of Russia and the 15 anniversary of the Jewelers Guild of Russia. In the foyer the exhibition devoted to the well-known jewelers of the past was launched. In the Celebration Hall of the Jewelers Guild of Russia the representatives of jewellery community of Russia and foreign countries, stars of business, political and artistic beau monde gathered. The organizational part was assumed by the Jewelley house «Aesthete» and the Vienna Ball Moscow company. The stars of the Russian classical art - the soloist of the Bolshoi Theater, the winner of an award of the President of Russia Venera Gimadiyeva and the soloist of Stanislavsky and Nemirovich-Danchenko Moscow Music Theatre Nazhmiddin Mavlyanov acted in the gala concert. The Jewellery ball was sponsored by the «Adamas» and the «Almaz-Holding» companies. The charitable lottery also took place there. The sum of 342 500 rubles collected during this event were directed to buy a multimedia computer class for the disabled children who are training in the jewelry profession in the Moscow college named after Pavel Ovchinnikov. SPRING, 2 0 1 4 10 RUSSIAN DIAMONDS & JEWEL L E R Y


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CASE From left to right. Sitting: Gagik Gevorkyan, Andrey Sidorenko, the representative of Swarovski Gems in Russia Natalya Volkova. Standing: Rinat Gumerov, Felix Gumerov, Artur Gumerov, Flun Gumerov, the vice-president of Swarovski Gems William Gust 9 September 13 «Almaz Holding» celebrated its 20-year anniversary A festive evening in honor of the 20 anniversary of the «Almaz-Holding» took place in Moscow. The company met its anniversary as a leader of the total production of gold and silver jewellery. Many of the works of artists of the company received the awards of the Russian and foreign contests. At the factory «Krasnoselsky Yuvelirprom» that is the main production base, the production process reorganization in according to the international standards of management is coming to the end. The «AlmazHolding» is distinguished among leading Russian producers by having the largest distribution network which contains more than 250 factory salons. In the anniversary year the large-scale program of extension of own network was implemented, 75 new factory salons are open in Russian regions, and also in Kazakhstan and in Belarus. The articles of the company are provided in more than 1000 of outlets, a third of products is exported. The governor of the Kostroma region Sergey Sitnikov and the chairman of the Kostroma Regional duma Andrey Bychkov sent the greetings and kind wishes to the «Almaz-Holding». The heads of public organizations, of the Russian and foreign industrial and trade enterprises arrived to congratulate the premier of the domestic jewellery market. In his welcoming speech the chairman of the Guild board of jewellery of Russia Gagik Gevorkyan has noted a special role of the «Almaz-Holding» in the formation of the civilized market, the saturation it with high-quality products, the improving of image of Russia as the jewellery power. The chairman of the board of directors of the group of companies «Adamas» Andrey Sidorenko has expressed his gratitude to the «Almaz-Holding» for interesting and fair business competition, and to its president Flun Gumerov for effective protection of the interests of the industry-wide. The gratitude for long-term partnership has been expressed by Sergey Dokuchayev SRRING, 2 0 1 4 («Russian semi-precious stones», St. Petersburg), Mikhail Egorov (SP «Egorov», Kostroma), Marina Baborina (the jewellery network «Almaz», Irkutsk edge), Saulet Kuanysheva (the jewellery network «Azamatzoloto», Kazakhstan), Vladimir Mirgolovsky (the jewellery network «Belyuvelirtorg»), etc. Only the high-quality inserts, in particular, the diamonds of the Gomel factory «Kristall» and the crystals of the well-known world brand of Swarovski are used in products of the «Almaz-Holding». The vice-president of «Swarovski» William Gust has congratulated the heroes of the anniversary and has sent Helmut Swarovski’s regards to Fluna Gumerova: the presidents of the premier companies are connected by the personal friendly relationship. The guests of evening were touched by a greeting of the jewellery industry veteran Valery Sorokin which had been delivered by Valery Vasilyevich‘s daughter, the general director of the Kostroma jewellery factory Marina Sorokina RUSSIAN DIAMONDS & JEWE L L E R Y 11


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CASE The Kiev jewelry factory has changed its owner. According to the decision of the Court of Appeals of Kiev the main block of shares of the factory is delivered up to the «Tavrika» bank that is controlled by the state. In recent months the factory was shut down, the stuff was dismissed, more than 50 factory shops were closed. The common world business process of acquisitions, mergers and takeovers looks unusually in this case for two reasons: first, the nationalized «Tavrika» bank most likely will sell its share of factory at an estimated value of 350 UAH ($45) a share while the market value, according to experts, is at least 115$; secondly, new owners will hardly continue the producing of jewelry on these capaci- 10 The Kiev jewelry factory is liquidated September 24 ties. Hundreds of skilled specialists forfeited their work and the outstanding school of design is also lost. The Jewelers Association of Ukraine established this factory in 1999 and includes more than 300 companies, has not given any response to these events. The liquidation of a leader of the Ukrainian jewellery industry which had celebrated the 75th anniversary in 2011 is just a link in a chain of the state racket that has incredibly been developed for the years of Yanukovych «family» power. This was the detonator of a mass protest of the Ukrainian society which put their hopes only in the entry into the European Union to establish the accurate precepts of law and to curb corruption. December 24 For the first time in the practice of Russia in customs matters the jewelry which were sent to a foreign exhibition under the customs regime of temporary export, were placed under the customs regime of export in connection with their sale. That regime was applied in respect of products of JSC «OPTEST» which is a part of companies group of the Jewellery house «Aesthete». Direct sales took place at the Yerevan Show-2013 which was held in the capital of Armenia on October 28-30. The procedure registration was executed by the customs representative of JSC TBSS on the basis of the letter of the head of the Assay chamber of the Russian Federation Alexander Markin «About carrying out of the state control». It was told there that «by the results of the state control the Act of the state control of goods, containing precious metals and the jewels, exported from the territory of a state which is a member of the Customs union... where it is specified that these jewelry For the first time the customs regime of jewelry exported from Russia is changed 11 are exported to exhibit with a right to sell was issued. In connection with the above an accessory state control of the implemented products is not carried out». The declaration for the goods has been issued at the specialized office of the Central excise customs on December 18th, 2013. So, the precedent of practice which is used by all civilized countries and which should now be extended to the entire jewelry market has been created. 12 RUSSIAN DIAMONDS & JEWEL L E R Y SPRING, 2 0 1 4


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NEWS Nanocrystals are entering the Russian market Karen Avakian is receiving the award competition. Hong Kong, September 2013. In the picture on the right - SENIOR VICE PRESIDENT UBM ASIA VOLFRAM DINNER NG Sapphire blue n January 19th the presidents of «AlmazHolding» (Flun Gumerov) and «Formica» (Karen Avakian) signed the general agreement about cooperation in joint promotion of high quality jewelry products made on the basis of modern materials and technologies in the Russian market. «Formica» had developed technology for obtaining and industrial scale production of the nanocrystalline materials which are very approximate to natural analogues in colors and physical properties. In September 2013 thanks to these innovative technologies the company became the winner of the international competition of «JNA Award» in the nomination of Industry Innovation of the year manufacturing-technology. In turn, the group of companies «Almaz-Holding» has been a leader in the total production of gold and silver jewelry for the last 10 years. «Almaz-Holding» has factories with the modern equipment and aims to use only high-quality materials for its products. It is known that high quality natural stones are met in the nature extremely rarely and they are very expensive, more than 80% of them are exposed to various types of ennoblement. Due to the current absurd 10-15% import duty on color stones the Russian market is filled with low-grade natural materials or their cheap synthetic imitations. In this situation, the nanocrystal can become an inexpensive high-quality alternative. The Agreement provides the large-scale deliveries of nanocrystals united by the trademark of «Nanogem - crystals of the 21st century» - emerald, sapphire, citrine, topaz, etc. to the factories of «Almaz-Holding». The parties granted each other exclusive rights to use the trademarks Nanogem and «Almaz-Holding» in the outdoor advertising, at exhibitions, in mass media. In order to increase the efficiency the promotional activities in the Russian and the world jewellery markets will be coordinated. The period of validity of agreement is 5 years, the volumes and conditions of release of different types of products manufactured on the basis of materials of Nanogem and technologies of Group of companies «Almaz-Holding» will be determined by separate contracts. RUSSIAN DIAMONDS & JEWE L L E R Y O SRRING, 2 0 1 4 13



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