Золото Au - 2620,43 руб/гр.
Серебро Ag - 31,13 руб/гр.
Платина Pt - 1847,47 руб/гр.
Палладий Pd - 2409,74 руб/гр.
 

Russian jewelry market-2015. Whats new? Доклад издателя «Ювелирного обозрения» на байерском форуме в Гонконге (в сокращении)

01
марта
2016
Russian jewelry market-2015. Whats new? Доклад издателя «Ювелирного обозрения» на байерском форуме в Гонконге (в сокращении)

As of today Russian jewelry market fell down into crisis like other industries of Russian economy and was set off by three major factors: increased state control; sharp decline of retail jewelry sales and, consequently, jewelry production drop; devaluation of the Russian currency resulting to domestic production costs reduction, which in turn deteriorate import of finished jewelry and spurs up Russian jewelry export growth.

New regulations in jewelry market came into force in 2015 concerning mostly the retail trade. On 30/10/2015 it was prohibited to sell jewelry outside retail stores; every jewelry piece has to have explicit information about stone processing methods on its label and whether synthetic stones were used. From January 1, 2016 each customer must present a passport and fill out a form if the purchased jewelry’s value exceeds $500 if bought by cash / $ 1300 by credit card. Non-compliance may lead to a penalty in the amount of $2 500 to $6 500 and a license revocation for the jewelry store.

Since September 1 under Russia's WTO commitments to cancel export duty on diamonds, (6.5%), and to reduce one for gold and platinum from 4.88% to 1.63%. Keeping in mind that nearly all rough diamonds are exported (e.g. exports to India hit $1.5 billion in 2015), this measure makes it more difficult to develop the domestic cut. On January 1, 2017 jewelry import duty will be reduced from 20% to 10%. In October 2015, Deputy Finance Minister Alexey Moiseyev, who supervises Russian jewelry sector, announced the possible cancellation of import duties on colored stones. Today the import duty on rubies, sapphires and emeralds is 15% and on 10% other stones. Import duties may be cancelled as well for foreign equipment.

As all these measures and the overall situation affected the Russian jewelry industry? According to the Assay Chamber of Russia, in 2015, gold jewelry offer amounted to about 28 million pieces or 62 tons. According to other sources, Russian jewelery industry in 2015 reduced the use of gold as compared to the year 2014 by 40%, down to 34 tons. The import of gold jewelry was, according to the official data, hit ca. 1 million pieces, or 2.5 tons. Somewhat better situation in silver jewelry segment: more than 50 million pieces and 200 tons, while import jewelry had a share of not less than 20% in total - 11 million pieces and 50 tons.

As for the largest companies in the ranking for the year and the Top-10 in gold and silver, the absolute leader is Diamant plant (trademark SOKOLOV) from Krasnoye-on-Volga, Kostroma region. Its share ir not less, than 10% of Russian jewelry market. A significant gap that is relatively young company from the competition itself is one of the most intriguing events of the year. Noteworthy Kostroma factory Topaz confidently occupies the 2 nd place in the number of produced gold jewelry, and inferior mass of Adamas Group, which produces large quantities of chains. Incidentally, Topaz has started and is rapidly gaining momentum latest Italian chain line. Kostroma Golden traditions and Delta pushed back from the first places in the ranking of its recent leaders - Aquamarine and Platinum from Krasnoye-on-Volga.
The list of silver there have been major changes. Here, in the second position by the number of pieces and the third on weight is kept long-term leader - Krasnaya Presnya from Ivanovo region. At the same time, Intersilverline, Russkiуe Samotsvety, Krasnoselsky Yuvelirprom are in the Top-10 only by weight of the production - due to the large proportion of silver tableware or chains.

Retail sales declined by 50%, while production in the course of the year - by 38-40%. Why such a relationship? The fact that one of the ways to choose the Russian jewelry enterprises - is the preservation of the volume of work at the warehouse, and the excess of the limit lending levels. Another part of the drastically reduced or even stopped production. But there are also companies that are increasing marketing activities and creative. In accordance with this matrix is an active market reformatting. An example of successful coping crisis can serve Kostroma Jewelry House Kabarovsky and RusGoldArt from Kostroma, Sakha Taas from Yakutia, Favorite from Kazakhstan and others.
The most successful in the current situation are small companies - are not burdened with high costs, flexibility to respond to demand and prefer to place orders for the running of the collection. These are companies such as The Magic of Life or Premium Class, which actively participate in international fairs.

In terms of oil price reduction and sanctions and Russian ruble devaluation the value of making jewelry is lower than in China now. Therefore, importing finished jewelry in Russia today is unprofitable. Retailers who sell imported gold jewelry, have difficulties now. On the other hand, the production of many Russian companies is quite competitive in design and quality. In March 2015 the Russian design has received unprecedented recognition in Hong Kong: ring “Exhistence” of Almaz-Holding company became the owner of the Grand Prix and the title of Champion of Champions of the most representative and prestigious world contest International Jewellery Design Excellence Award-2015 in which has been viewed 191 pieces from 31 countries. Russia was represented by winners of the contest "Russian Line 2014", which is held by Jewellery Review magazine since 2008. Furthermore, for the first time in the "Big Eight" includes representatives of one region and one contest: Honorary Award "For outstanding design" was awarded the ring-transformer "Russian seasons" by designer Anna Dmitrieva from Kiev.
For all these reasons, many companies now are busy developing their export programs, participate in the world's leading trade shows, and very soon our jewelry export will begin to grow.

What advice can be given in terms of doing business with Russia? First of all, to pay attention to the products of Russian companies and the possibility of its purchases. Then consider the possibility of increasing precious stones import to Russia, bearing in mind that they are absolutely essential for our domestic production, and to develop the import into Russia silver jewelry. Finally, perhaps, to think about investing into Russia. Arguments:
a) there are many enterprises with a full cycle of the equipment, technology professionals who need only for working capital;
b) the investor will receive a low-cost high-quality products that can successfully market both in Russia and abroad, including China;
c) state control measures in recent years have reduced the illegal sector of the jewelry market;
d) companies with foreign participation can feel in the Russian market more secure today, not to mention the term.