JEW ELLERY RUSSI A
â„– (6) March, 2011
m aga zine I
Official REPRESENTATIVE in Russia
Russian Jewellery Market in Numbers 2010 CIBJO Representative in Russia Russian Silverware Market 2010
From the Publisher
Outlook of the Russian Jewellery Market
Russian Jewellery Market in Numbers
Russians Purchases Grow
8 12 18
Present-day Situation in the Jewellery Industry of Russia Demand for Exhibition Centers Silverware market: 2010 year
MISAKI in Russia ATA Carnet: Customs White Elephant
JUNWEX – JEWELLERY RUSSIA Magazine is the official media partner of CIBJO (World Jewellery Confederation) in Russia
JEWELLERY RUSSIA Exhibition Programme
Russian Watch Salon JUNWEX WATCH
Breakthrough Decisions at the World Diamond Congress in Russia
RESTEC JUNWEX Becomes the Official CIBJO Representative in Russia
Russian Jewellery Trade Club
Russian Jewellery Trade Club presents …
EDITORIAL BOARD V. Budny, Head of Jewellery Russia Programme B. Borisov, First Deputy Director of Russia Assay Office O. Mironova, General Director RusJewellerExpert Consulting Agency A. Gorynya, Chairman of Russian North West Union of Jewellers G. Kovaleva, Chairman of Judges of a Jewellery Contest within the Jewellery Russia Programme G. Cavalieri, President of CIBJO D. Percossi Papi, Jewellery Designer, Italy T. Noskova, Deputy Chief Editor V. Puryguin, Director of Jewellers Guild GOLDEN RING of RUSSIA K. Avakyan, President of FORMIKA Company V. Meshalkin, Federal Jewellery Holding GOLDEN STANDART ESTABLISHER Russian Jewellery Trade Club RusJewelleryExpert Consulting Agency EDITORIAL STAFF V. Budny, Publisher T. Noskova, Editor-in-Chief I. Fedorova, Script Editor O. Shmarina, Executive Editor Y. Runova, International Department Editor A. Dobrov, Art Director D. Becetskaya, Designer V. Revelisov-Krumer, Project Director E. Popova, Photographer (Photo Studio JUNWEX) L. Lebedeva, Proofreader D. Ivanova, Subscription Department D. Popova, Circulation Department ADDRESS 12 Petrozavodskaya St., St.Petersburg, 197110, Russia Tel.: + 7 812 303-98-60, +7 812 320-80-99 E-mail: firstname.lastname@example.org, email@example.com www.eng.rjexpert.ru Contact person: Olga Shmarina (firstname.lastname@example.org) Printed by ScanWeb OY, Korjalankatu 27, 45 130, Kouvola, Finland. 5 000 copies. Materials are not returned and not reviewed. All rights reserved. No part of this publication may be reproduced in any form without the written permission of JEWELLERY Russia Magazine. Reference to the journal is required. JEWELLERY RUSSIA Magazine is registered by Federal Service for Supervision of Legislation in Mass Communications and Protection of Cultural Heritage in the Russia’s North-West Federal District. Registration Certificate PI #FC2 - 8476.
6 Editorial JUNWEX magazine
Dear Readers! JEWELLERY RUSSIA Publishing House is a recognized leader in the market of massmedia industry in terms of volumes of publishing: 2 500 000 hard-copies of B2B JUNWEX Jewellery Russia magazine annually and this figure is constantly increasing. It also publishes B2C “The Best Adornments in Russia” magazine (155 000 copies, 8 issues per year) which gives the key information about the latest trends in jewellery industry.
et us introduce you the international edition of JUNWEX Jewellery Russia Magazine – a project of RESTEC JUNWEX Media-Holding, JEWELLERY RUSSIA Publishing House and RUSSIAN JEWELLERY TRADE CLUB. This issue is introductory and includes the most interesting and up-todate information for international jewellery market, a digest of the Russian magazines published over the last year. It includes analytical reviews, comprehensively characterizing jewellery business in our country, and articles about operational experience of foreign companies on the Russian market, as well as interviews with representatives of the industry reflecting prospects of cooperation with foreign partners. JUNWEX Jewellery Russia, established by the RUSSIAN JEWELLERY TRADE CLUB and RUSJEWELLEREXPERT Consulting Agency is the most distributed and reliable В2В edition on the Russian jewellery market. The target audience of the magazine is investors, CEOs, commercial directors, top-managers, heads of sales departments, commodity researchers, jewellery enterprises of small, medium and large scale, and everybody who is interested in further development of business in the jewellery industry. The magazine JUNWEX Jewellery Russia is distributed: • by address base of RUSSIAN JEWELLERY TRADE CLUB covering more than 6500 jewellery stores in Russia; • by address base covering all manufacturers of the Russian jewellery industry; • among exhibitors and visitors accredited for all JEWELLERY RUSSIA Exhibition Programme; • by VIP-mailing (state officials, regional administrations, business elite); • by subscription. The materials of this edition represent a wide range of information relevant for jewellery business. JUNWEX Jewellery Russia is a professional tool for establishing partner relations and effective promotion of business. We are sure that every reader of the English edition of JEWELLERY RUSSIA Magazine will find on its pages not just interesting but also necessary and helpful information regarding the Russian jewellery market.
JEW ELLERY RUSSI A
m aga zine
DISTRIBUTION OF THE MAGAZINE
99% of jewellery retailers and wholesalers of Russia
7 issues a year
14 000 copies
The fairs of jewellery RUSSIA Exhibition Programme
The most distributed B2B magazine on the jewellery market of Russia Advertisement space First cover Second cover Third cover Fourth cover First page advertisement Two pages advertisement Full page advertisement 1/2 page advertisement 1/3 page advertisement
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You can place in our magazine: • Full page advertisement: we can produce the comprehensive model • Editorial article, interview: assistance in article writing • “News” Section: article about novelties, manufacturing, congratulations, etc.
8 Название раздела JUNWEX magazine
Your Gateway into the Russian Jewellery
XIX International Jewellery Forum
1–5 February 2012 Saint-Petersburg, LENEXPO Fairgrounds
X International Jewellery Show 25–29 May 2011
Moscow All-Russian Exhibition Centre
V I I J e w e l l e ry W hol e sa l e T r a de Fa i r
MOSCOW Russian Watch Salon JUNWEX WATCH 17–21 September 2011 Moscow, All-Russian Exhibition Centre
Media-Holding RESTEC JUNWEX www.eng.rjexpert.ru
Official REPRESENTATIVE in Russia
From the Publisher 9
of the Russian Jewellery Market E
V. Budny, Head of Media-holding RESTEC JUNWEX
RESTEC JUNWEX Jewellery B2B mediaholding is an organizer of the JEWELLERY RUSSIA Exhibition Program. RESTEC JUNWEX activities: • Jewellery Russia Exhibitions • Russian Jewellery Trade Club • Jewellery Russia Publishing House • RusJewellerExpert Consulting Agency • Internet portal RJEXPERT.RU (http:\\eng.rjexpert.ru)
conomists may dispute for hours for how long the world economic crisis will last more, it, however, has already changed the outline of the jewellery market beyond recognition. Recently the level of investment motivation of Russian buyers has risen up to 50% the first time. According to the surveys carried out by RUSJEWELLEREXPERT Consulting Agency, two reasons to motivate Russians to buy jewellery prevail: “spare money” and “interest to investments”. These factors are named by 44,5% of male respondents and 49,1% of women. Before the crisis the main motif of the purchase was “to buy as a gift”. The populace range included goods at the prices ranging from 125 to 750 Euro (52,0% of the sales). The buyer’s age is up to 40. The modest shine of white gold is preferable for Russian men, the women are more attracted by yellow gold. And the expensive necklaces are in deficit. The crisis has resulted in change of the major participants of the market. The trade has finally become the leader of the jewellery business by pushing the stores of the known Russian Jewellery Trade Club to the top of the chart. The former advantage of Russian manufacturers having branched affiliated chains has lost its actuality. In crisis period advertising budgets of such companies as Adamas, Yashma, Almaz-Holding fell into decline, and even before own shops had never been able to provide advertising. The prices for gold have multiplied by four times recently, and all circulating assets are sufficient to support only own shops. The leadership is being claimed mostly by such new jewellery brands as: Platina, Aquamarine, Topaz, Sanis, Adamant, Alkor, Jewellers of the Northern Capital, Jewellery House (Yekaterinburg), etc. The competitors tracing after the yesterday leaders have made a rapid progress owing to their efficient operability and new business contacts, both wholesale and retail. Notwithstanding the fact that they don’t invest much in advertising. The new leaders consolidated their efforts in the united exhibition programme during hot seasons for the trade, when the buying fever is expressed by the less numerous, but loyal customer attracted to the exhibitions. Along with the cultural value, the gold in Russia has started gaining big economic and investment importance as well. Not without reason, the most part of the gold extracted by mankind is kept as assets or family jewel heritage. This strengthens the hope of the participants in the JEWELLERY RUSSIA Exhibition Programme for successful offer of the jewellery produce in 2011. We hope that this edition of the magazine will help all participants of the jewellery market to choose the right direction in the business season of 2011. RESTEC JUNWEX Media-Holding wishes you success and new prospects, active sales, growing business and confidence in the future!
We will provide your competitive advantage on the Russian jewellery market!
10 Analytics JUNWEX magazine
RUSJEWELLEREXPERT Consulting Agency:
Present-day Situation in the jewellery industry of Russia and its ability to withstand the crisis
The key trends in the jewellery industry of the Russian Federation and its potential
In 2007 Russia took the first place in the world with respect to the total weight of diamonds extracted (38,2 million carats) and the second place with respect to the cost of the diamond raw produce extracted
oday the emerging jewellery market of Russia, having a rich raw potential in its reserve, is one of few free zones in the world where the jewellery business may be successfully developed. Russia takes the first place in the world with respect to the reserves of palladium — platinum metals among the group of the leaders having the largest reserves of gold and silver. In 2007 Russia took the first place in the world with respect to the total weight of diamonds extracted (38,2 million carats) and the second place with respect to the cost of the diamond raw produce extracted ($2,63 billion). The steps aimed at liberalizing the jewellery business that have been taken recently to facilitate the development of this industry. The Gov-
Production volume of the jewellery goods on the eve of the crisis in 2007-2008 2007
Billion USD (average rate – 25,421)
Tons marked (as to the data of the Russian Jewellery Assay Chamber) Rouble/gram (average price in retail sale)
TOTAL market capacity in 2007 was $8,25 milliard (209,81 milliard roubles)
Tons marked (as to the data of the Russian Jewellery Assay Chamber)
Rouble/gram (average price in retail sale)
Billion roubles Billion USD (average rate – 26,293)
TOTAL market capacity in 2008 was $8,68 milliard (228,33 milliard roubles)
ernment has designated the policy on liberalisation of the jewellery market. In 2001 the excise tax was reduced from 15% to 5%, and thereafter it was annulled at all. Since 2002 the licensing has been cancelled. By today practically all companies that are engaged in production of and trade in the jewellery industry and that were previously owned by the State have been incorporated and have become private, and now they represent a solid basis of the market infrastructure. The State keeps only its control over the compulsory state registration of the companies which deal with the precious metals and stones, and also over the compulsory marking of all items made of precious metal that are subject to sale. The Russian State Customs Committee establishes the customs standards for export and import of the jewellery produce. Economic showings of the before-crisis period Starting from 2000 the annual increase of the jewellery production was 20-30%, at the same time, up to 40% of the jewellery goods were exported from abroad by some Russian companies using various schemes and were marked as their own produce. According to the official data, in 2006 the volume of the jewellery market in the Russian Federation exceeded the showings of the total jewellery production in the republics of the former USSR. The major share in the volume of the jewellery goods was represented with the jewellery with diamonds which provided 50% volume of the market sales for the trade. Retail sales of the jewellery goods started to grow most dynamically after the people had become confident in the problem-free development of the country in 2000s. Several large jewellery
networks with known brands that had formed by 2000 served as a good impulse for sudden increase in the offer. According to the outcomes of 2004 the total volume of the retail sales in the Russian market exceeded $1,5 billion and during the period from 2005 to 2006 the average annual growth in the retail networks did not fall lower than 5%. The maximal growth of the volume in the jewellery retail sales was reached in 2007, and on the eve of the crisis, during two years (2007 and 2008) it was exceeding 25%. During those years we could observe the highest competition among the major manufacturers of the jewellery produce, and some signs of the full satiety of the market by the existing volumes of the deliveries appeared. Before-crisis fall of 2008 was characterized with the acute growth of the demand for the jewellery — up to 90% as against the traditional showings. The acute increase in October — November of 2008 was subjected by the first senses of the crisis and the drive of mainly low-income people of the country who became panic-stricken at that time for protecting their small savings. Functioning of the Russian Federation jewellery market during the crisis of 2009-2010 and problems of the development in 2011 During 2009-2010 functioning of the market was of problematic nature. After the New Year sales in 2009 the trade scared by the crisis practically ceased to order any new collections and used the goods stocks. The own goods stock that was accumulated by the jewellery trade networks in the past had a great importance for planning the stable operation of the jewellery industry. That information was extremely important for estimating required work volumes of deliveries of jewellery goods in conditions of the crisis. The works asked the single specialized structure — the Russian Consulting Agency RUSJEWELLEREXPERT(RJE) to give their advice. At that time RJE offered to the market rather disputable, but justified system for calculating “stock” of the goods in the jewellery networks. The volume of the actual retail sales over the country was calculated on the basis of the fact that about 70% of the produced goods were sold. Up to 30% of the goods remaining unsold went to
the stock, i.e. accumulated in the jewellery shops and became the goods owned by the shops. The volume of the stock accumulated during the last two years was accepted as an estimation of the own goods mass at the time when the crisis began (provisionally, December of 2008). The operational estimation of jewellery sales during the initial period of 2009 made by RJE in cooperation with the Secretariat of the Club known as «Russian Jewellery Trade» by means of the regional express monitoring, polling of the experts during February Exhibition «JUNWEX Petersburg» and in the framework of some regional spring exhibitions proved that the New Year and spring sales over the country remained, in general, at the level of 2008. (During the New Year eve and spring holidays the total sales on the Russian market was annually up to 60% of the total annual turnover). However, it referred to the central regions close to Moscow and St.Petersburg, other developed regions having own centers — Ekaterinburg, KhantyMansiysk, Yakutsk, etc. For example, during January — March of 2008 the jewellery sales in the North-West Federal Region (Saint-Petersburg is a regional center) was, in total, 2,139, 903.7 thousand roubles — 23% of the annual turnover. In 2008 — 9,932,367.3 thousand roubles in total. For the detailed information see www.eng.rjexpert. ru). Only the second half of March showed 17% decrease allover Russia against the volumes of the before-crisis year. For example, in Cherepovets (included in the North-West Federal Region) 20% decrease of buying ability was fixed. Approximately the same situation was in Povolzhye where decrease of the sales was 23% (January — March of 2008 — 2,474,442.4 thousand roubles — 23% of the annual return. 11,003,917.9 thousand roubles in the region for the year in total). The crisis mostly affected the jewellery trade in Siberia where the export-oriented industries prevailed. In the central regions and the south the demand for the jewellery of medium price rates “collapsed”, but the jewellery having light weight were successfully sold, in the problem regions only very cheap goods were sold, and even the jewellery with small diamonds were not sought after. In such conditions the most leading works reduced use of gold in their productions by 20% -50%, and some even large companies decreased
The maximal growth of the volume in the jewellery retail sales was reached in 2007, and on the eve of the crisis, during two years (2007 and 2008) it was exceeding 25%.
During 2009-2010 functioning of the market was of problematic nature. After the New Year sales in 2009 the trade scared by the crisis practically ceased to order any new collections and used the goods stocks.
12 Analytics JUNWEX magazine
Production volume of jewellery goods during the crisis of 2009-2010 2009
Tons marked (as to the data of the Russian Jewellery Assay Chamber)
Rouble/gram (average price in retail sale)
Billion roubles Billion USD (average rate – 30,34)
TOTAL market capacity in 2009 was $4.35 milliard (138.56 milliard roubles)
Tons marked (as to the data of the Russian Jewellery Assay Chamber)
Rouble/gram (average price in retail sale)
Billion USD (average rate – 30,47)
TOTAL market capacity in 2010 was $ 5.78 milliard (175.42milliard roubles)
The outcomes of 2010 have showed that the jewellery branch in the Russian Federation leaves behind the recreation of any other branch of the Russian industry by its rates.
their productions in 7-10 times. Following the dynamic of the fall of the jewellery production from January to April of 2009 by more than 40% against 16% decay of the Russian industry, in general, RJE through the Club «Russian Jewellery Trade» warned the trade networks against the threat of arising deficit of gold goods. At the threshold of the major Russian Jewellery Exhibition «JUNWEX Moscow» (beginning of September, the All-Russian Exhibition Center) RJE offered the club trade network to make urgent investments in ordering some new collections that would let it get ready to the main forthcoming trade season — the New Years sales of 2010. That forecast helped the most perspicacious representatives of the jewellery business to use the crisis time for rapid progress in the competitions. Some of them managed to turn their difficulties into success, as to the yesterday “averages” such as the works «Topaz», «Diamond», «Adamant», «Platinum», «Aquamarine», «Jewellers of the Northern Capital», etc., became leaders of the production. Today these works have the most advanced production technologies and equipment that may compete with the works of the world leaders in the jewellery business. During 2009-2010 former leaders having their own branched trade networks, such as «Adamas», «Yashma», «Almaz Holding», were in the most
difficult situation due to the acute increase in the prices of gold. Indeed, the advantage of holding hundreds of own shops became excessive load, because the recreation of gold range in the own network at such prices of gold and credit rates that were exorbitantly overrated in Russia (the average rate — 20-25%) became extremely difficult. The new leaders which did not lose in the volumes of their productions during the first phase of the crisis have managed to get changed according to the existing consumer demand. Gold jewelleries produced by them have considerably lost in their weight, but have not fallen in their quantity. Just owing to those new leaders the quantity of gold goods produced in Russia in 2010 in conditions of almost two-time fall of the consumed gold decreased by 25%. At the same time, the quantitative production of silver jewelleries increased by 26%. The outcomes of 2010 have showed that the jewellery branch in the Russian Federation leaves behind the recreation of any other branch of the Russian industry by its rates. The beginning of 2011 is of optimistic nature. The XIX International Jewellery Exhibition «JUNWEX Petersburg» which was marked by participation of more than 700 leading jewellery companies proves the good mood of the business for the forthcoming year. The exhibition which is the second biggest in size, but the first one in its importance for successful launch of business and income of the enterprise in the forthcoming year was participated by all companies which determine determined successful functioning of the jewellery trade. More than 6000 jewellery companies from all regions of the Russian Federation and countries of the Commonwealth of Independent States visited the exhibition, which proves activization of the jewellery trade and recreation of the retail sales. The number of wholesale traders exceeded almost by one forth the number of visitors in «JUNWEX Moscow 2010». The exhibition has demonstrated an increased level of attention paid by some foreign colleagues to the Russian market. In 2011, taking into account the general trend in the recovery of the markets after the crisis, RJE forecasts further upturn of demand on the Russian jewellery market. At the same time, the political feature of the current year — arrangements of the elections in Russia, is also taken
into account. The elections will force the authorities to protect the society against losses in social and material welfare, to support interests of business sector providing the employment for people. Along with the overcoming of the problems resulting from the financial crisis that are common for the world, the development of the Russian jewellery industry will be depended on the following aggravating features of the domestic market: As far as the refinancing rates are reduced allover the world, the cost of borrowings in Russia increases. The credit rates which are at the level of 20% and above are absolutely unacceptable for the jewellery industry, because the actual level of the production efficiency which the majority of manufacturers have is lower than this showing (in average, the efficiency is 11-12%). The prices for jewellery produce in Russia rise considerably quicker than they do in other countries: besides the growing price of gold (nominated in USD), the value of the national currency — rouble — falls. Constantly encreasing competition with foreign producers which have lost their positions on the markets of the USA and some countries of Western Europe decreases the development potential. Nowadays India, Turkey, China, Hong Kong, Taiwan, Thailand show high activity on the Russian market offering to the Russian jewellery trade most beneficial prices for the deliveries of jewellery goods. Permanently growing corruption and existing dependence of the country on raw materials are extremely negative factors affecting the development of Russian production. Relocation of production that has already started to the countries where conditions for jewellery business are more favourable is an alarming sign that may become “exploder” for trends leading to irreversible consequences for the jewellery industry of the country. An actual orientation of the authorities to the new policy in state production in the conditions of “gas-oil” cataclysms may optimize the situation, and thereby facilitate transformation of jewellery industry into the important branch of the economy which will cover any arising deficit of the budget owing to the complete processing of the precious metals and stones inside the country.
All you need is ... In 2011, taking into account the general trend in the recovery of the markets after the crisis, RJE forecasts further upturn of demand on the Russian jewellery market.
Nowadays India, Turkey, China, Hong Kong, Taiwan, Thailand show high activity on the Russian market offering to the Russian jewellery trade most suitable prices for the deliveries of jewellery goods.
14 Analytics JUNWEX magazine
for Exhibition Centers
Exhibitions are one of the most efficient marketing methods for promotion of new jewellery collections – this is an axiom. However any marketing move has its benefits and drawbacks. Participants of the exhibitions carefully monitor Return On Investment (ROI) of exhibition events, trying to understand, in which exhibitions it makes sense to participate, and which they may skip. On the one hand, crisis has extremely aggravated the need for profound marketing for the purpose of rational use of material resources of enterprises, on the other — has significantly reduced the appearance of exhibition costs. Secretariat of the Russian Jewellery Trade Club receives many inquiries for consulting. We have decided to devote this article to the problem of exhibitions’ selection. Since both RusJewellerExpert consulting agency and the Club have decided on the exhibition program a long time ago, which they support in every possible way, we will try to fix on objective evaluation of exhibitions’ efficiency that we support. Such evaluation will help to understand the reason of preference of JEWELLERY RUSSIA Exhibitions Programme organized by RESTEC JUNWEX Media-holding.
xhibitions of the JEWELLERY RUSSIA Programme came to the fore in the industry at the beginning of the 90s. The components of successful development of this program were joint efforts of organizers, mass business association RJTC and consulting agency RJE, having a wide range of media facilities, actively working on invitation of experts and organization of business contacts between manufacturers and commerce. As a result, exhibitions of JEWELLERY RUSSIA Programme develop as a network project and, most importantly, offering the best exhibition sites of Moscow and SaintPetersburg, which Restec® Group can afford. Professional joint management of organizers and associate companies provides participants of the exhibitions with an individual approach, taking into account specificity of jewellery range, long-term and current purposes of the companies on the basis of constant consumer demand monitoring in major economic centers and regions. It is also promoted by regional programme exhibitions including independently organized Junwex Ekaterinburg. The reached agreements with Russian Jewellers Guild about joint support of exhibitions together with the CLUB, also in regions, strengthen the opportunities of regional and general marketing even more, which also means the possibility to forecast ROI of exhibition events. The personal manager of the exhibition operator, assigned to each participant, coordinates the company with its place on the floor plan, he also offers a complex program of the exhibition arrangements, involving the most efficient industry and local promotion and PR tools to achieve the successful result at the exhibition and afterwards. Among the important criteria of our exhibitions’ rating are the admission fee and ticket price. As the main criteria in cost evaluation we consider the cost value of high efficiency provision of manufacturers’ participation in exhibitions and creation of necessary service level for wholesale buyers, trade experts. Or specifically whether the organizer is able to provide high advertising efficiency, appearance of the target audience, to impart the corresponding status to the exhibition, within the scope of average admission fee for exhibitions of such level. But we understand that it cannot be cheap and good at the same time. If the basic argument of the organizer is low admission fee, it is a reason to keep your eyes open. You will be definitely deprived of something obvious: either of quantity and quality of visitors, or advertising, or service. It is relevant, that money paid by the companies for participation in the exhibition form the consolidated advertising budget. And here the following hidden rocks can lie:
Small scale of the exhibition (budget scarcity) and absence of investments from the organizer, which we have repeatedly observed, for example, at GOLDEN GLOBE exhibitions in Crocus or in the exhibition of Russian Jewellers Guild in Manege, which was discontinued as a result. Miserliness of organizers, who prefer to earn more than to spend. It is one of the reasons for the “decline” of JEWELLER exhibition in Sokolniki, where traditionalism of the exhibition was considered as a factor sufficient in itself, replacing PR and advertising. Certainly, professionalism of organizers is the main criterion for evaluation of an exhibition. Without it many bet on a parallel in time non-profile exhibition, attracting a large number of visitors, as a rule. The expectations are: “they will go to the other exhibition and also come by us”. It is a serious mistake, which we have committed ourselves a long time ago and we can still see how some of our colleagues make the same mistake. A visitor must be targeted. The GOLDEN GLOBE, a jewellery exhibition which has ceased its existence, was not rescued by vicinity to specialized cosmetic exhibition INTERCHARM, and promised mega-sales of jewellery in the framework of Motor Show in Crocus were not justified as well. The experience of ours and of magazine Jewellery Trade Navigator, which organized displays at major exhibitions in Expocenter, confirm the malignancy of such approach. Restec refused of this practice in the 90’s already. The Jewellery Trade Navigator magazine, after two attempts of jewellery sections organization in parallel with oil and IT exhibitions, also closed the project. Why? It is unprofitable and hopeless. The statistics of participation efficiency in non-profile exhibitions is zero at the best, most likely negative. And it is even useless to think about the wholesale component. The right of correct selection of venues, which Restec possesses, not being attached to a specific one, is of importance. Its status of one of the three largest Russian exhibition operators, organizing about a hundred exhibitions per year, makes it desirable for every venue owner. It is necessary to competently evaluate whether to disperse the budget in a random manner, participating in all possible exhibitions, or to spend some funds at exhibitions, which have proven their efficiency. Let’s carry out a short marketing analysis of exhibition sites from the point of view of fitness for modern jewellery exhibitions. Let’s begin with Moscow. Gostinyi Dvor, Central Manege, All-Russian Exhibition Center, Sokolniki, Expocenter, Crocus. Those are the basic exhibition venues, and each of them has hosted jewellery exhibitions in due time.
16 Analytics JUNWEX magazine
Central Manege An excellent exhibition site in the center of Moscow. But it is limited in size, the basement floor is problematic. There is no parking. Restriction on moving-in and out of collections, building designs, because vehicles other than motor cars are permitted to enter the center of Moscow only at night and only under special permits. An excellent site for art and small exhibitions, including jewellery aimed at retail.
Central Manege, Moscow
Gostiny Dvor Interior-wise it is the best showroom in Europe. Luxurious! RESTEC was the first to organize the first jewellery exhibition NEW RUSSIAN STYLE there. But only we know how much sweat, blood and money it takes to get a buyer into this hall. There is no parking and restrictions on entrance are same, as for Manege. In addition, we have outgrown this site in size. Despite its splendour, JR Programme and other large-scale projects turned there attention to other showrooms. A magnificent site for chamber exhibitions, Christmas balls and congresses of The United Russia Party. Parallel use of the two abovementioned sites for one exhibition is possible. The problem is double complexity of parking, delivery of collections, moving-in and out of exhibition structures and, perhaps, in politics: tomorrow on the Red Square could be another demonstration, inauguration, rock star concert — and it might be over…
Gostiny Dvor, Moscow
Crocus A modern exhibition site, but … in Moscow region! The main advantage is that everything is huge. All Russian exhibitions could simultaneously fit in there at once. Big pavilions, big parking, restaurants. But jewellery, as well as under many other Russian exhibitions, do not need halls over 50 000 sq.m., and they can not stand together: each segment of the market has its own market cycle. At the same time there is bad transport availability (Moscow Ring Road has heavy traffic, jams are common), and even an underground station in the territory of the complex does not save the situation. As a result Moscow Watch Salon was discontinued. A trip from downtown takes one hour forty minutes by a straight underground line. One has to change trains twice, because not
Crocus Exhibition Center, Moscow
all trains go to the terminal station. It reminds a joke: “Is there life beyond the Moscow Ring Road? — There will be! When Moscow will outgrow the third ring». Only then the exhibitions intended for the wide consumer market will be possible there. Only then JR Programme exhibitions will also be held there. So far Crocus City is suitable for carrying out the specialized exhibitions targeted at narrow audience, or megaprojects such as motor show which can not fit in the center of the capital. Location map of Crocus Exhibition Center
Expocenter Traditional exhibition center of Moscow with a developed infrastructure, where various exhibitions are held. But jewellery exhibitions didn’t take root there and that was that! Therefore Restec Junwex also didn’t choose this site.
Sokolniki This exhibition hall was known by all jewellers. But square management of the USSR period and blind faith into indispensability have first led to collapse of the traditional exhibition, and after that - to literal destruction of pavilions. Pavilion 4.1 was demolished during winter of 2010. According to the general plan of Moscow development, the nearest future of Sokolniki is a recreation park, without the exhibition component. In essence it is already a former exhibition site. Sokolniki Exhibition Center, Moscow
18 Analytics JUNWEX magazine
(All-Russian Exhibition Center) Advantageous location. Transport accessibility, immediate proximity to downtown Moscow, convenient entrances and parking. Many hotels of different rates. A number of different-sized pavilions for exhibitions of various specialization. A year and a half ago the modern 75th pavilion opened its doors, jewellers settled in there rather successfully, and it is ever more brought under maintenance services. There is a possibility to increase the area of jewellery exhibitions by adjoining the 69th and 70th pavilions. And the 75th pavilionÂ is only the beginning. It is only the first stage of capital concept of congress-exhibition development. So the prospect is obvious.
VVC (All-Russian Exhibition Center), Moscow
Many people visit VVC every day
Conclusion The most convenient exhibition site for jewellery exhibitions from the point of view of location, logistics, infrastructure, transport and prospect of development, is certainly the All-Russian Exhibition Center. This choice of exhibition site for the best Russian jewellery exhibitions is most justified and promising. Summing up InÂ 2011 the VII International Jewellery Exhibition Junwex Moscow will expand its exposition. Including the means of the formation of a separate JUNWEX WATCH SALON. It became a necessity due to the closure of Moscow Watch Salon. RESTEC JUNWEX Media-holding and RUSSIAN JEWELLERY TRADE CLUB declare the program of Russian manufacture support, opening a program of economic participation in the exhibition. Admission fee in the 75th pavilion remains the same, and in the 69th pavilion the cost per meter will be lower. During the exhibition a convenient covered way will connect pavilions 69 and 75. See you soon, friends!
Russian Watch Salon
within the framework of JUNWEX MOSCOW 2011
n December 3 during the Best Adornments of Russia Exhibition the joint meeting of the Organisation Committee of the JEWELLERY RUSSIA Programme and the initiative group representing the watch companies was held. It was decreed that the Russian Watch Salon JUNWEX WATCH would be held within the framework of JUNWEX Moscow Exhibition (September 17-21, 2011, VVC, the All-Russian Exhibition Center). The meeting was attended by V.V. Budny, Director General of RESTEC JUNWEX Media-holding, S.K. Vedovskiy, President of the Russian Jewellery Trade Club, O.V. Mironova, General Director of RusJewellerExpert Consulting Agency and managers of the leading watch companies: G.Â V.Â Nevzorova, Director General of the Trade
House Polet and P.N. Grankin, Director General of the Trade House Slava. As a result of the meeting the Organisation Committee was formed and it was decided to launch the project of the Russian Watch Salon which is supposed to be located in Exhibition Hall No. 69 as a separate exposition on 1000 sq. m. area. In order to invite wholesale specialists it was decided to form a separate watch section in the Secretariat of the Russian Jewellery Trade Club. The issue concerning invitation of the specialized mass media to participate in work was discussed, and consequently joint actions with respect to cooperation with international and Russian watch manufacturers associations are being taken.
20 Analytics JUNWEX magazine
The second year of the global financial crisis is over, and probably the time has come to analyze its impact on the silver tableware market in Russia.
s it is a part (however, a very specific part) of the jewellery market in the whole, the silver tableware market couldn’t but respond to the financial crisis. The volume of sales in the segment under consideration reduced at the beginning of the year, although not so dramatically and abruptly as in the whole jewellery sphere, and almost all participants of the branch think over the matter of survival in the coming year. May was the worst month for the whole retail jewellery market and for the segment of silver tableware in particular. The demand stabilized to some extent in summer, but it was weaker by far than in the previous year in the majority of retail companies. The beginning of autumn didn’t bring the expected movement in the jewellery market either. Exhibitions Analysis of the results of participation in various jewellery exhibitions in the last three years allows to draw the conclusion that the crisis has affected this segment too. Only few jewellery exhibitions held in 2010 could preserve the same number of participants as in the former years, to say nothing about their increase. There are two exhibitions distinguished among others, they are New Russian Style 2010 and JUNWEX Moscow 2010. Both exhibitions were held at the new place, however, there was almost no free space in the pavilions
notwithstanding the hard period. The level of organization of both exhibitions was superior. The sales at the May fair softened the hardships of time, and JUNWEX Moscow 2010 can be undoubtedly called the largest exhibition of the year. The demand for silver tableware didn’t reduce at the exhibitions in Saint-Petersburg either (JUNWEX St. Petersburg and PITER-JEWELLER). It is worth mentioning that traditions of silver tableware are very strong in the cultural capital of Russia. At the same time, both retail sales of silverware and the number of contracts concluded at the exhibitions in Novosibirsk, Ufa and Samara reduced. Although the organizers worked as best as they could, some participants’ hopes didn’t come true in full measure. In our opinion, considerable reduction of sales in Ufa and Samara in the discussed year was due to the time of the exhibitions, that was April and June, accordingly. In fact, as the majority of market participants say, the yearly drop in sales is usually observed in May, and when aggravated with the financial crisis, the neighboring months’ sales in the discussed year were affected too. The volume of sales of silver tableware at the exhibitions in Kazan and Nizhny Novgorod seriously reduced too. However, the jewellery with diamonds produced by Krasnoyarsk Jewellery Factory, Novyje Brillianty Sibiri, whose dealer is STOS Ltd., were in requisition. Thanks to Siberian diamond jewellery solely the exhibitions were a success (however strange it may seem in the crisis period). Many visitors mentioned two facts when they attended at the company’s booth: • the biggest choice of silver tableware and diamond jewellery at one booth;
• an attractive combination of silver tableware and diamonds. The jewellers have great expectations concerning two regional exhibitions in Yekaterinburg and Rostov that will be held at the end of the year. The hopes of the last year came true there. The exhibition season starts in Saint-Petersburg at Lenexpo; later exhibitions will be held in Tyumen, Novosibirsk, Ufa, Moscow. Internet Everyone knows that the Internet trade is becoming an important part of our life. According to competent sources, only two branches develop most successfully in Russia now, they are mobile communication and wideband Internet access. As far as the high-quality and cheap Internet is already provided everywhere in Moscow, the development goes on mostly in the regions. The share of Moscow in the Internet orders on purchase of silverware reduced in the last three years from 92% to 75%. First of all, it was because of greater demand of Saint-Petersburg citizens whose orders’ share increased from 1.5% to 8% in the last year and a half. However, the share of St. Petersburg remained unchanged in 2009, and the share of Moscow went on reducing because of involvement of regions in the Internet trade of silverware. For instance, the shares of Yekaterinburg and Rostov increased from 0.2% to 1% in the last two years and a half, and the share of Novosibirsk from 0.4% to 0.8%. Other regions make their contributions too. Therefore, progress of the Internet and, consequently, the Internet trade of silverware in the regions carries on independently from the crisis. According to our information, the demand for silverware in the Internet increases constantly, and didn’t reduce even once in the discussed year as against the previous year. However, this increase is due to widening of audience of the Internet users in the regions of Russia, first of all, and not due to some peculiar status of the Internet trade (being a part of the whole trade sphere, it had no alternative but is affected with the consequences of crisis). Nevertheless, silverware trade in the Internet is a promising and interesting trend, and it deserves more detailed studies in future. Manufacturers It is curious to know the results of the leading enterprises of the branch in 2009-2010 years.
Eugene Shchedrin, General Director Velikoustugsky Factory SEVERNAYA CHERN: The sales volume reduced considerably in January 2009, but the most difficult months for the works were April, May and June when the sales volume dropped distinctly. In 2010 thanks to well-balanced marketing policy, the enterprise could retain the majority of customers. The contracts on supply were concluded in 2010 with five hundred fifty five counteragents-customers (one hundred five of that number are new!) in sixty four regions of the Russian Federation. It is noteworthy that the share of sales in Moscow and SaintPetersburg reduced by more than 3% due to the increase of shares of other regions. The biggest growth of sales is observed in Komi Republic and in Bashkortostan. The shares of the named regions doubled. The dynamics of the last months is positive. According to the analysis of sales, people don’t show less interest in silver goods. For instance, the number of sales checks drawn in the company shop of ZAO Severnaya Chern reduced only by 10% in ten months of 2010 as against analogous period of the previous year. Decrease of the sales volume can be explained by shifting of the demand towards cheaper products. This is an evidence of lower consuming power rather than of lower interest of the people. The search of the new methods of work with corporate customers-firms goes on. The company decided to participate for the first time in the annual JUNWEX St. Petersburg exhibition in February of 2011. Special preferential terms are granted to the counteragents who promote our products through the Internet sales development and participation in the regional exhibitions. In this connection we would like to mention Stos Company, our distributor that successfully represents our company in the Internet and at many regional jewellery exhibitions.
22 Analytics JUNWEX magazine
Nadezhda Zakharova, the head of Sales Department of INTERSILVERLINE Company: The volume of shipment as well as the volume of production at the enterprise didn’t reduce in 2010 but even increased when compared to 2009. Furthermore, even April, May, June, July, the months of customary drop in sales, were profitable and the increase in sales continued. As for the regions, no particular rush and no drop were observed. However, there were some rare exceptions, in the regions, where the core town-forming factories stopped, and many employees lost their job, the sales reduced considerably. Such is the situation in Yekaterinburg, Chelyabinsk, Togliatti. Private entrepreneurs became more active. Their sales volumes increase because their pricing policy is more flexible, and they adjust it to all changes in the market. It seems to me that we have one more free space to occupy in the coming future. Notwithstanding the crisis, the customers come to understanding of using silverware, the custom of using this product strengthens, and traditions of family valuables revive. Many jewellery shops widen their assortment with the silverware, while other open special shops for exclusive sale of silverware. Julia Melnikova, Deputy Director General for Marketing of RUSSKIE SAMOTSVETY Company: The works had to cope with the drop in the demand for jewellery in 2009. However, dynamics of sales of the silverware didn’t change on the whole. Speaking of assortment, the shops retained the same quantity of orders but preferred cheaper pro ducts. The hardest month of the year was April 2010; that can be explained by seasonal movements in the jewellery industry. Sales in autumn were insufficient too, but we finished this hard year successfully at the expense of the New Year holidays sales rush. Valery Skoblinsky, Director General of ZOLOTOE SECHENIE Company: Jewellery industry, in our opinion is the sphere that suffered most severely in the crisis period. It is quite natural in this difficult situation that the silverware segment of the market was affected too. The reduction of sales of the silverware started later by three-four months as against the golden products, and it was smoother. The consumer demand reduced by 15-20% in 2009, and this is equally referred to massive silver settings and to lighter (consequently, cheaper) products, such as teaspoons and coffee spoons. The volume of sales of twenty-four-pieces silverware settings reduced considerably. The works retains the former volume of production: between twenty and twenty five kilograms per month, and widens the trade network. 2010 showed positive dynamic of the consumer demand and we didn’t need to reduce the volume of production in correspondence with the market requirements. Renat Mukhametshin, Senior Specialist in Sales of KRASNOSELSKY JUVELIRPROM Company: The volume of production and shipment of ready products by our works didn’t reduce in the previous year, but the volume of accounts receivable from the customer increased. The hardest month for the factories was April, the sales volume then turned to be considerably less than the forecast. However, the volume of sales in March of 2010 was considerably higher than in the pervious year. The company achieved good results at Moscow jewellery exhibitions in 2010. The works didn’t increase volume of production in 2010 as in the former years because of the financial crisis, it remained on the level of 2008. But such results of the year are quite satisfactory in the existing situation.
Summary Therefore, the trade companies and manufacturers of the silverware try to minimize their losses in this difficult period by greater or lesser surrenders. As it appears, they are more successful in doing so than the participants of the jewellery market. This can be confirmed by the fact that many manufacturers of jewellery include in their assortment silver products (as they are cheaper), and start manufacturing the products that hadnâ€™t been their specialty: silver spoons and ionizers. Consequently, increase of competition is possible in the coming future in the segment of inexpensive silverware. However, the end user will win as a result of this: the assortment will increase, and consequently the choice will increase too. The difference in results of this and that participants of the market in this year can be explained, in our opinion, not only by quality of goods or skilful marketing policy (however, these factor cannot be underestimated too), but rather by the age of the enterprises.
In fact, serious enterprises with long history won the reputation in the market long ago, their products are of high quality and familiar to the customers, and marketing policy was improved for years; totality of these factor allows them surviving in hard times for the industry. Increase of production by 5-10% (taking into consideration the volumes) can be considered as good dynamics even in stable time. However the crisis is nothing but crisis, and it would be unreasonable to expect grand development in the time when the greater part of population are not sure in their near future. As for the young companies that develop dynamically (both in the production or commercial sphere) that are just appearing in the market, they demonstrate higher indexes of increase. And, consequently, if their products are of high quality and their policy is adequate, their development is influenced by the crisis but not stopped. All the participants of the silverware market from manufacturers to retail shops are tightly connected and depend on each other. They can pass this hard time with minimum losses only in joint efforts. In our opinion, the most successful are the companies that can find the new, the most expedient methods of work with their partners on mutually profitable conditions in this hard time. General Director of STOS Company, J. S. Shpinev
24 Statistics JUNWEX magazine
Market in Numbers Within the frame of exhibitions organized by RESTEC JUNWEX surveys of the visitors, heads of wholesale and retail companies, representatives of manufacturing companies are regularly carried out. These polls allow experts of RusJewellerExpert Consulting Agency (RJE) to make a thorough analysis of jewellery branch taking into account opinions of all participants of the market. diagram
Correlation of visitors according to their sex
28% 72% diagram
Correlation of visitors according to their age and sex
he latest 2010 survey showed that men’s interest in buying jewellery is much weaker than women’s than before: 28% and 72%, accordingly (diagram 1). The tendency to younger age of the main target group also prevails: 53% of the visitors are between 20 and 40 years old, 39% — between 41 and 60 (diagram 2). As for the social status of the visitors, as the diagram shows, the greater part of them are white collars – 53% (diagram 3). Most of the visitors, or 33%, were going to buy a jewellery piece at a price not exceeding $ 300, while other intended to buy expensive jewellery piece at the exhibition with one-time payment: 24% up to $1 000 and 10% at a price of $2 000 and above (diagram 5). Along with it, the greater part of the visitors when answering the question: “How much money are you ready to spend on jewellery in 2010?” informed of the same amount of $100; that is an evidence of popularity of the exhibition “JUNWEX ST.Petersburg” and
11% 7% 20–30 y.o.
5% 41–50 y.o.
3% 51–60 y.o.
1% 61 and older
Correlation of visitors according to their social status
Men 42% Women 3%
the buyersâ€™ loyalty to it. By the way, men have proved to be more lavish in respect to buying jewellery: 20% of them are ready to spend more than Â $1000. ProÂbably, it is thanks to the fact that men like to make presents to their sweethearts, and prefer jewellery as the safest way. As for preferences of the present-day buyers, jewellery with diamonds and gemstones are on top of demand as always: 22% and 20% of respondents, accordingly, were going to buy them. The following in the list is jewellery with semiprecious stones (16%), and plain jewellery 9% (diagram 7). The weakest demand, according to the poll, is for silverware and watches (3% and 2%, accordingly). Invariably favourite precious metal is gold: 65% of the surveyed visitors preferred it (diagram 4).
7% 1% Students
Customers preferences in relation to metals of the jewellery pieces
4% 1% 30%
Sum of money the visitors are going to spend at the exhibition 10%
Less than $100
Less than $200 Less than $300
Less than $1000 Less than $2000 More than $2000
26 Statistics JUNWEX magazine
Trade visitors A
nnual surveys of all participants of the market demonstrates again and again that opinions of buyers and trade specialists on the same matters are quite different. According to the representatives of trade, the most popular goods are chains, jewellery with semiprecious stones and fianites; however, as it was mentioned before, the buyers preferred jewellery with diamonds and gemstones first of all. The reason is quite evident: wholesale traders came to the exhibition from different distant regions of Russia, and preferences vary from one place to another.
Groups of goods that are more popular with buyers this year than the last year (in opinion of buyers) 11% 4%
Groups of goods that are more actual presently than the last year (in opinion of buyers) 22%
with semiprecious stones
7% 5% 4%
with diamonds with gemstones
The goods that provide for the principal sales volume, according to representatives of trade, are plain jewellery (27%) and with fianites (21%) (diagram 9). And the group of goods which cashes up in terms of money is jewellery with diamonds (34%), just because of their high price. Thanks to the vast business experience wholesalers and retailers make forecasts of further development of the market. The greater part of them are optimistic about the future. So, 32% of respondents supposed that sales of the second half of 2010Â would increase compared to the analogous period of the past year (index of growth varies from 5% to 30%). 26% of the questioned experts believed that the sales volume would be the same as before. And 20% of trade representatives expressed
with semiprecious stones
pessimistic opinion that the sales would reduce at least by 5% (and according to the worst expectations, this number may reach 50%). There were also some respondents who found difficulty in answering this question (22%)
Groups of goods that presently cash up in terms of quantity 9% 6%
Besides, most of the respondents (65%) agreed that prices of jewellery would undoubtedly increase: experts supposed that the scope of price growth will be between 2% and 50% (diagram 11).
Groups of goods that presently cash up in terms of money 34%
with semiprecious stones
with semiprecious stones
Prices for jewellery in 2010 in comparison to 2009 (in opinion of buyers)
Increase Remain the same Reduce No answer
28 Statistics JUNWEX magazine
xponents agreed with trade representatives in their forecasts of the sales volume in the second half of 2010 and were quite optimistic: 40% of respondents supposed that the increase would be between 5% and 60%. Other respondents (28%) thought that the sales volume would be on the same level. The share of exponents who expected turning to the worse was somehow less than among trade representatives (14%), but their
forecasts were much gloomier: some of them supposed that index of recession would be 80%. The share of 18% of participants found difficulty in answering this question (diagram 12). Growth of prices is expected by 45% of exponents in this year. 36% of the respondents answered that the prices would be at the same level. Only 3% of participants of the exhibition supposed that the prices would reduce (diagram 13).
Sales volume forecast Increase Reduce
Remain the same
Remain the same No answer Reduce
Jewellery price forecast
Manufacturers preferences to cooperate on the market
With retail shops
With wholesale companies
The representatives of jewellery manufacturing firms were asked to indicate in the questionnaire what kind of cooperation is the most profitable and convenient for them (the respondents were offered multiple choice). Retail shops were preferred by 34% of the respondents, 31% and 29% pointed out affiliated chains and wholesale companies, and the work with dealers was appreciated by 6% only (diagram 14). As for the volume of wholesale purchases, according to 40% of the exponents, they increased compared to the past year, 27% of the respondents stated that the wholesale purchases reduced and almost the same number of respondents, or 26%, said that the volume of the products bought by wholesale traders was the same. The participants named the following groups of goods that enlarged the assortment in 2009â€“2010:
silver products, collections of jewellery with diamonds, different light-weight jewellery, objects for religious cult, palladium jewellery, hollow chains and bracelets, exclusive collections, sets of jewellery for children, jewellery with large synthetic and natural gems etc. The following categories left the assortment: heavy jewellery, expensive unsold collections and bijouterie. It goes without saying that any targeted survey cannot be considered as problem-solving. It is only aimed at indicating the principal problem areas of the market, and it is only an instrument of collecting necessary information for further thorough analysis. We hope that the results of annual researches of RJE help the companies involved in the jewellery business in Russia to effectively plan their work and be a success on the market.
30 Statistics JUNWEX magazine
Only half of all Russians make savings. According to the survey of ROMIR (the biggest Russian research holding), their preferable currency is rouble, in cash.
he number of people who make savings has diminished: from 55% in 2009 to 49% in 2010. “Russians have begun to spend more again as it was before the crisis of 2008”, said Dmitry Bobrov, the professor of the Institute of Stock Market and Management. As he stated, before the crisis the banks had trained us to spend funds. Since the most active citizens, let’s say in Moscow, as a rule have at least two loans (e.g., loans for a car and a computer). Moreover, often they face the necessity to rent an apartment and, therefore, to pay rental fee. “And if they repay loans, what money can they save?” mentioned the Professor. “We may say that the current trends are correctly reflected. In the crisis time people tried to save money, and now, when the situation has become
stable, they begin to spend more”, guessed Dmitry Orlov, Vice-President of the First Republican Bank. As for the choice of currency for the savings our country fellows are unanimous — 90% of them prefer to keep their savings in roubles. They trust USD less — 8% of the respondents only. The share of those people who are adherents to keep their savings in Euro has reduced twice in 2009 — now it is 5% of the polled people only. “Those of our citizens who travel abroad two-three times a year keep their funds in foreign currency. Most often, they spend these funds abroad, that is why these savings may be considered as short-term”, said Dmitry Bobrov. For citizens of Russia the safest and therefore the most popular form of keeping savings is in cash (Russian idioms for that is the money kept “in stockings” or “under the pillow”). More than a half of the population (55% of the respondents) choose such way for savings. Deposits with Russian banks as a safe and proved way for keeping savings are preferred by the third of the population — 32% of the respondents. 6% more reasonably keep money they have saved on accounts with the foreign banks. Meanwhile the share of the depositors among women is higher and equals to 34%. And 39% of the respondents at sixtysomething are also in favour of keeping their savings on savings account in banks. “For the vast majority of people the deposits are still the single instrument for savings. And owing to the stabilization of the rate they prefer rouble more and more, moreover the rates on rouble deposits are considerably higher than on foreign currency deposits», added Dmitriy Orlov.
To invest savings in the produce of precious metals, gold and jewelries is preferred by 10% of our country fellows. Nowadays only 4% of the people make their investments in business. Few people (approximately 3% of Russians) invest their savings in the antiques, artworks. The same percent of citizens make their investments in securities (shares, bonds) of private companies or in the government securities. Not more than 2% of the people use various types of saving insurance. And investments in the investment trusts and managing companies as a way of keeping their savings are considered only by 1% of Russians. “Indeed, the financial culture of the Russian people is awfully low, moreover the crisis has lessened the trust to our stock-market”, resumed Dmitriy Bobrov. “As for the more well-to-do people, they, as a rule, do investments not savings, and now it’s even more obvious. Thanks to cutting the rates on the deposits, high activity of the financial market, stabilization of the economy — big investors convert part of their funds in more hazardous and less liquid assets. But this is true for the big and confident investors only”, believes the Professor. It is interesting to mention that if people had extra money, nearly a half of the respondents (47%) would make investments in the real estate. Almost third of the country fellows (27%) would continue to trust the bank and would deposit their free money on account. Only 6% of the polled people would purchase shares of the companies, and only 3% of the people would try various ways of the insurance. And 14% of Russians would not invest in anything, and, therefore, would save money in cash.
RUSSIAN JEWELLERY TRADE Club RUSSIAN JEWELLERY TRADE Club
is the biggest business association at the Russian jewellery market uniting more than 6500 wholesalers and retailers from 806 cities of Russian Federation.
Business activity Buy at the stores of RUSSIAN JEWELLERY TRADE Club — Integrated corporative action for strengthening Club members’ competitive ability. Business Contacts Exchange — Establishment of business links between manufacturers and trade companies to arrange active supplies to the jewellery stores of Russian Jewellery Trade Club. Regional project — Russian Jewellery Trade Club supports regional shows within the framework of Jewellery Russia Exhibitions in Ekaterinburg, Kazan, Kalinigrad, Kostroma, Makhachkala, Perm, Samara, Yaroslavl. The main purpose is to represent the interests of the Club members in regions by developing and maintaining customers loyalty.
Cooperation with RUSSIAN JEWELLERY TRADE Club Buyer’s Programme — delegations of trade visitors; Direct-marketing — a program specifically designed to build the booth traffic; Match-making service — Business Contacts Exchange — assistance in scheduling the business meetings. Tel./fax: (812) 235 83 83 E-mail: email@example.com | www.eng.rjexpert.ru
32 Experience JUNWEX magazine
MISAKI in Russia
Interview with Cedric Bobe, Sales Director and Partner of MISAKI Company Cedric, when did you visit Russia for the first time? — For the first time I visited a jewellery exhibition in Moscow about 5-6 years ago. Comparing my impressions from the first visit and the mo dern state of the Russian market, I may say that a considerable progress is observed. The market is rapidly growing and, as a consequence, industry exhibitions develop. But in Russia they have their specific character. Exhibitions in Italy, Hong Kong, Great Britain tend to draw a wide international response. Despite the fact that all countries have their own brands, they are interested in attracting global foreign players. And in Russia it’s is vice versa — the number of the present global brands are rather limited. I guess that the reason is in Russian mentality, so to say, in attachment to habitual standards. Russian buyers purchase articles of certain design and prefer red and pink gold. At the same time, well-off clients tend to buy products of world-renowned brands, e.g. Cartier or Сhоpard. In the jewellery industry of Russia two segments are widely developed - exclusive and mass, and the average niche, in which Misaki works, is not filled. We dare to hope that with Misaki coming into the Russian market, Russian jewellery business will acquire more international scales.
French company MISAKI was founded in 1987. In a quite short period of time thanks to stylish modern jewellery with Japanese natural and cultured pearls of various shades the company managed to achieve global recognition. Nowadays Misaki jewellery is a combination of natural beauty and perfection of pearls, innovative technologies and talent of designers creating these splendid works of jewellery art. The company patented a unique SHL (Super High Lustre) technology, which helps achieve X-treme Lustre pearls.
Have you experienced difficulties while building your business in Russia? — Yes, certainly. After I had decided to come into the Russian market I realized that I would have to face with a lot of difficulties. But at the same time I understood that it was possible. It is a place where benefits and implications alternate and interlace. Everything is very complicated, but solvable. Misaki brand is presented in Russia by LeCadeau boutiques chain and duty free stores. New collections of the company can also be seen at the annual pearl defile Misaki Night, organized in cooperation with Le Cadeau in Discoteque club in Moscow. Thanks to operational distribution the brand is actively developing, and the company is gaining more experience of work in Russia. Two years ago,
when we planned network expansion, we had certain complexities with opening new outlets, especially in regions. Today we cooperate with LeCadeau on franchise basis: our partnership led to mutually beneficial results. LeCadeau chain has a possibility to join regional shopping centers. And if to ground in the regions, the financial risks considerably decrease. Further we plan to open a chain of monobrand Misaki boutiques in Russia. What is the share of products presented to Russia, in total amount to company sales? — The share is about 7%. But the Russian market occupies a special place in the activity of sales sector and in my heart. Since my first visit to your country, I have had different experiences — both good and bad. But having overcome all the adversities I can say that all efforts were worth it and if we draw correct conclusions from mistakes, everything will pay off twofold. Russia is a market with a huge potential. Who is the basic customer of your jewellery? — If we talk of duty free stores, they are mostly men, they travel by planes more often and buy gifts for their nearest and dearest on the way back. In city stores they are basically women who buy jewellery for themselves. The spirit of Misaki jew-
Ruben Zenyan, Cedric Bobe, Tatyana Noskova, Vadim Revelisov-Krumer
ellery renders the latest fashionable trends, and at the same time they are refined and elegant. Our produce can be funny and formal, touching and insolent: no one has ever experimented with pearls like we do. And if earlier pearls were mostly preferred by elderly ladies, today it as a popular youth trend. Products are presented in different price range — in silver or gold, but always of the highest standard. As for me, I traditionally give Misaki jewellery as Christmas presents to my cousins and my mom. Despite the age difference, they are all very pleased. Russian women are very beautiful, and I hope that each product of ours will help them underline their beauty.
Having overcome all the adversities I can say that all efforts were worth it and if we draw correct conclusions from mistakes, everything will pay off twofold.
34 Название раздела JUNWEX magazine
Customs «White Elephant» In 2000 the Chamber of Industry and Commerce of the Russian Federation became a member of the international network of associated states-guarantees of WFTU (the World Federation of Trade Unions) in the International Chamber of Commerce in Paris and issued the first Russian ATA carnet — international import goods certificate. Allover the world this system has been successfully operating for more than forty years, but in Russia it is still exotic.
The ATA carnet system operates in 66 countries of the world where more than 300 000 ATA carnets to the total amount of over $12 billion are issued every year. As for Russia, the ATA carnets issued every year are few dozens only.
ith the development of international trade Russian businessmen have faced an increased need in short-term export of goods for trade fairs, exhibitions, and other events in order to seek for orders and to expand outlet. For the purpose of simplifying the clearance procedure for exhibition cargos the ATA system was introduced. Its suggests duty free shortterm export of the goods for one year, if they are covered by unified international customs document. Those goods that have been exported under the ATA carnet are prohibited for sale, and they must be returned back before the allowed duration of short-term export has expired. In theory, this system allows the Russian businessmen to participate in the European and world cooperation wider and on more convenient conditions,
thereby making the procedure of customs clearance for the exported goods cheaper and as quick and accessible as possible. However, even ten years after the ATA carnets have been implemented in Russia, in practice they are still a wonder. Businessmen participating in foreign exhibitions continue to persuade the Customs to allow them using this instrument for clearance of the short-term imported goods, and, in response, hear about certain alleged difficulties and necessity to submit more extra documents. This acute question is regularly raised at the meetings of the Public Advising Council of the Russian Federal Customs Service, things, however, are still where they started. Such a sluggishness results in Russia occupying the last place over the world with respect to the number of the ATA carnets issued.
It is unnecessary to speak about the importance of exhibition activities for the development of the state economy and its role in the performance of the tasks for Russia in the foreign market. Moreover, in the near future such events of the world level as the Olympic Games, Football World Cup, etc., are in store for our country. Therefore, an ever growing flow of the shortterm imported cargos will be passing through the customs. Thus, for example, during the Olympic Games in Beijing more than a half of all cargos were imported under the ATA carnets. The reason lies in the fact that domestic and foreign businessmen do not see many advantages of implementation of the ATA carnets within Russia. Since, when they import the products under the ATA carnets in other countries they have to fill in only one document. In Russia they are requested, beside that document, to attach cargo customs declaration. Till today, the customs officials continue to pretend that all exhibition goods do not differ from all others, that is why the exhibition participants have to complete two declarations — to import and export the products, that also makes the clearance procedure more complicated. The Chamber of Industry and Commerce of the Russian Federation issues the ATA carnets based on the Decree of the Government of the Russian Federation under No. 1084 dd. November 2, 1995 «Concerning ratification by the Russian Federation of the ATA Carnet Customs Convention for shortterm import of goods dd. December 6, 1961 and the Convention of Short-Tem Import dd. June 26, 1990 with attachment of some schedules», and also in accordance with the Regulation of the Chamber of Industry and Commerce of the Russian Federation «Concerning the procedure for drawing, certification and issuing the ATA carnets» dd. March 18, 1999.
Initially, the Decree of the Government of the Russian Federation charged the Chamber of Industry and Commerce of the Russian Federation with the functions of organizing warranting and issuing the ATA carnets. In the beginning of 2000s four customs bodies were authorized to make customs clearance by using the ATA carnet, and thereafter their list was enlarged up to forty. By today this authority has been granted to 170 customs stations (the total number of customs in Russia is 700). Russia has not much time before it becomes a member of the World Trade Organization. And ones of those who will be first “subject to the attack”, will be customs officers who will have to work in accordance with the new international standards. It means that the active and wide implementation of the ATA Carnet System in our country is a necessary step for the preparation of Russia for the integration in the all-European procedure of customs clearance for the cargos. In this connection, we feel sure that the situation will change for the better. Because, according to the President of the Russian Federation D.A. Medvedev, “our common economic area with the European Union “will be based on the principles of united safety, liberty of people, capitals and goods to move under the unified technical standards».
36 Events JUNWEX magazine
Breakthrough Decisions at the World Diamond Congress in Russia
From 11th to 15th of July, 2010, Russia gathered the whole elite of the world diamond market. Two main cities of the country - Moscow and St. Petersburg hosted participants of the World Diamond Congress and theVII session of the World Diamond Council.
Plenary session at PETROCONGRESS (St.Petersburg)
he decision on holding the regular thirtyfourth main diamond forum in Russia was made by the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) two years back in Shanghai. The Diamond Chamber of Russia and the Association of the Russian Diamond Manufacturers hosted the event. All sessions took place with organizational and information support of RESTEC JUNWEX Media-holding, which is an associated member of WFDB since 2008. The successful outcome of the World Diamond Congress and the VII session of the World Diamond Council once again proved that Russia, as one of major participants of the diamond market, has both pow-
erful public forces and the corresponding media congress infrastructure for holding events on the highest level. Heads of leading industry organizations, profile ministries and state departments from Australia, Austria, Belgium, China, Great Britain, Germany, Hong Kong, Israel, India, Italy, Malaysia, Namibia, Netherlands, United Arab Emirates, Russia, Singapore, Thailand, USA, Southern Africa and Japan participated in the Congress. On July 12th at the plenary session which was held in the congress hall of Moscow Ritz Carlton hotel in the Red Square, A.L. Kudrin spoke on behalf of the Russian Government. The Minister of Finance, and Chairman of supervisory board ALROSA, expressed his appreciation to organizers and representatives of the forum, marking out the level of preparation of the event and aspiration of participants to develop the world diamond business. “The Government of Russia, as the leading shareholder of “ALROSA”, national diamond manufacturer - hopes that aspiration to cooperation and understanding of responsibility, which were so convincingly demonstrated in crisis time, will characterize the market in future as well”, said A. Kudrin. “The World Diamond Congress is a magnificent platform for dialogue, and Russia will do its best to provide a road to the future”. Having thoroughly discussed the consequences of global economic recession and conclusions from the reasons which led to the crisis, participants of the world forum called for expansion of the partnership between all participants of diamond and jewellery markets. “No doubt, the last eighteen months were the hardest period for the industry, but at the same time we can be proud
that now the diamond sector is in a rather good state”, said Avi Paz, the president of WFDB. Having compared the experience of the World Diamond Council with an ice breaker laying the way to building responsible business Dr Gaetano Cavalieri, the president of the World Jewellery Confederation (CIBJO), underlined in his speech, “In no other industry have I seen such efficient cooperation of professional community. And I have never seen that bank structures, which actually instigated the crisis, would gather and plan ways of eliminating their previous mistakes with such scale and responsibility, as we can see it happening today at the Council “. Not all decisions of the Congress on diamond business issues were in accord with the views of Russian delegates. For example, the General Assembly of WFDB called upon the manufacturers of rough diamonds to forward considerable consignments of goods for sales beyond the system of tenders which, in the opinion of many speakers, infringed upon interests of small and medium businesses. ALROSA in this respect took the contrary position. Official reports at the World Diamond Congress were also given by M. Ganz, the president of IDMA, E. Aizakov, the president of the World Diamond Council, E. Blom, the president of Diamond Dealers club of South Africa, S.A. Ulin, the president of the Diamond Chamber of the Russian Federation and many other renowned officials of the world diamond market. Director General of RESTEC JUNWEX Mediaholding V.V. Budny, one of the participants of the Congress, noted that “The majority of speeches was recognized as alarming: the spokesmen noted unpredictability of the occurring changes in the field of formation of world prices for rough and cut diamonds, as a result affecting the end-product jewellery. Everybody, undoubtedly, names the crisis as the main reason for the current market situation. And the leading players have no confidence in its termination. However the growing concern of representatives of WFDB, IDMA and CIBJO is the backlog of diamond and jewellery sectors from other consumer markets”. One of the key issues on the agenda of the Congress was formation of consumers’ trust to diamonds and propagation of investment appeal of diamonds. Many spokesmen, including the well-known Italian jeweller R. Coin, put forward
Alexei Kudrin, Deputy Prime Minister of the Russian Federation and Finance Minister
convincing arguments that confirmed the fall of buyers’ trust. According to his words, jewellers found themselves in the critical sector of economy. Consumers are concerned about the quality of rough and cut diamonds. The survey, made in twenty-two countries, showed a high level of mistrust in customer environment, which is fatal for the jewellery market. In a number of social groups of population credibility crisis is stated by up to 83 % of respondents. The situation worsens constantly. So far major brands are in the most advantageous position. 91 % of consumers polled in Western Europe are confined only to specific trade marks, not recognizing other manufacturers. These changes became especially appreciable in the last four years, it is also a serious alarm for the whole diamond and jewellery community. “The world is stepping into the era of change of standard consumer priorities”, comments V.V. Budny. In his view, which is in accord with the opinion of many spokesmen, “the timeless material values, which at all times were rough and cut diamonds, gold and jewellery works of art, are now being replaced by other types of goods and services. The latter acquire the role of emotionally appealing, which has always been characteristic of jewellery sales. If earlier set expressions “jewelled sky”, “golden shower”, etc. were unequivocally connected in the mind of people with jewellery, embodying the richness,
The World Diamond Congress is a magnificent platform for dialogue, and Russia will do its best to provide a road to the future
38 Events JUNWEX magazine
The result of the forum was signing the agreement by the World Diamond Council and Kimberley Process which legalized certification of diamonds in Maranje of Zimbabwe.
luxury, well-being and even happiness, now the concepts of “diamond shimmering lips” are more familiar to the consumer, associating with a certain brand of lipstick, or “Gold Gramophone”, symbolizing show business. Other consumer markets successfully use emotional images which have been inherent to the market of jewellery, and they win! While representatives of the rough and cut diamond and jewellery industries do not do this at all or are doing it extremely inefficiently. As a result consumer accents have considerably shifted”, said Valery Budny. Participants of the Congress stated themselves the task of working out a complex of measures in order to increase the degree of trust of retail buyers. During the closed plenary sessions of WFDB the elections of executive committee were held, appointments of candidates to the positions of president, vice-president, secretary general and financial director were confirmed, and six new members were accepted in the World Association, including the Diamond Bourse of South Korea. On July 14th the participants of the World Diamond Council were welcomed in Saint-Petersburg. “In our work we deal with beautiful and expensive objects, the image of which needs to be supported and protected. For this reason St. Petersburg, one of the most beautiful cities in the world, was
chosen as one of the hosts for this meeting”, said the president of Diamond Chamber of Russia S.A. Ulin, opening the following stage of work of the World Diamond Council at PETROCONGRESS business centre. The plenary session, which was held at the new modern complex PETROCONGRESS, was attended by representatives of world diamond industry, government officials from the countries engaged in extraction and faceting of diamonds, as well as in diamond trade, members of bank community representatives of jewellery business of the Northern capital. The main intrigue of the VII session of the World Diamond Council in St. Petersburg was the issue of Zimbabwe – the country which on the insistence of the USA was held out for exclusion from the Kimberley process (KP). This step could have led to the collapse of prices in the world diamond market and uncontrollable political situation in the country. In anticipation of such decision, President of Zimbabwe R. Mugabe declared on the eve that the country would flood the world with diamonds, despite imposing embargo. According to his words, Zimbabwe can provide a quarter of world supply of diamonds to restore the economy of the state. Earlier the authorities of Zimbabwe had already declared the sale of huge stocks of diamonds with gross weight of 4,5 million carat, which makes 17% of annual sales in the world diamond market. The cost of this lot was over 1,7 bln dollars. The Diamond Commissioner of the Ministry of Mines and Energy of Namibia K.Hamutenya rather sharply opposed the negative tone, in which the problem of Zimbabwe was discussed. He declared that if the country would be ex-
pulsed from KP, Namibia, as well as other states of the African continent, would have withdrawn from the organization. In fact, it would mean disintegration of KP structure, uncontrollable release of “blood” diamonds in the world market, burst of civil wars in a number of countries in South Africa. Despite the tough opposition of the USA, supported by representatives of Australia and Canada, the president of intergovernmental organization of KP B. Hirsh and the World Diamond Council insisted on compromise approach to solving the problem. An active position regarding the initiative of excluding Zimbabwe from KP was taken by the Russian participant of World Diamond Council session – well-known businessman L. Levaev, who quoted ancient sages on the given issue: “Darkness should be expelled by light, not by a stick”. He strongly recommended not resorting to blunt measures. His interest in positive resolution of the problem was based on deep understanding of conditions in this country. He urged the diamond world community to do everything in its power to maintain workplaces in Zimbabwe and not to let chaos to burst out in the world market. Peaceful resolution of this, according to his forecasts, could guarantee growth of demand in the next two-three years by 7–8 %. The compromise position was supported by the majority of participants of the session, including the president of the World Diamond Council Eli Izhakoff. “As a result of consistent policy of the Council and KP management in the previous years the quantity of the diamonds penetrating from conflict zones has fallen from the high level of 4 % to less than 0,2 %. More over, diamonds are no longer considered as violence generators but as sources of economic growth”, underlined Izhakoff. The result of the forum was signing the agreement by the World Diamond Council and Kimberley Process which legalized certification of diamonds in Maranje of Zimbabwe. The representatives of this country greeted this decision with tears of joy, not being shy to cry in public. The Minister of Natural Resources of Zimbabwe O. Moses, having thanked the participants of the Congress for fruitful work, said: “Our country will be observing the certification process without fail. In essence, this document signifies our progress, and we will not disappoint you”.
In addition to the key issue on Zimbabwe, the necessity to reform KP system after seven years since its formation was discussed at the meeting. Final protocols of the regular World Diamond Congress and VII session of the World Diamond Council determined the main results of changes that occurred in the world diamond market and outlined the basic vectors of development for the next years. The concluding event was a press-conference organized by RESTEC JUNWEX Mediaholding at which the chief executives answered questions of mass-media representatives and gave a number of exclusive interviews to business and industry media.
World Diamond Council and RESTEC JUNWEX give an impulse to the world diamond market. Photo (from right to left): A.Paz, the President of the world Federation of Diamond Bourses (WFDB) and V. Budny, the Head of RESTEC JUNWEX Media-holding.
40 Events JUNWEX magazine
Becomes the Official Representative of CIBJO in Russia In February the President of the World Jewellery Confederation CIBJO Dr G. Cavalieri visited St. Petersburg specifically for the XIX International Jewellery Forum “JUNWEX St. Petersburg 2011” Dr. G. Cavalieri handing a certificate over to Mr. V. Budny
The President of the World Jewellery Confederation CIBJO Dr G. Cavalieri
t the official opening ceremony, on behalf of CIBJO, Dr. Gaetano Cavalieri has solemnly handed the Head of RESTEC JUNWEX Mediaholding V. Budny a certificate confirming the status of Official Representative of CIBJO in Russia with headquarters in St. Petersburg and offices in Moscow and Ekaterinburg. “On behalf of CIBJO, The World Jewellery Confederation , I welcome all participants of the JEWELLERY RUSSIA Exhibition Programme. I am glad that this programme is aimed not only at Russian jewellers, but also members of CIBJO and develop civilized and responsible exhibition services on the Russian jewellery market. Thanks to this forum, the exhibitions under the brand of JUNWEX form a link between Russian and international jewellery markets”, said Dr Cavalieri. “I invite all Russian jewellers to cooperation. After all, with the establishment of the Official CIBJO Representation in Russia based on RESTEC JUNWEX Media-holding our joint projects have become more feasible and profitable.“
R u s s i a n J e w e l l e r y Tr a d e C l u b
Russian jewellery retailers presented at Basel Show by Russian Jewellery Trade Club Russian Jewellery Trade Club is elite professional union of the most reliable and developed jewellery retailers and wholesalers of the Russian jewellery market. The biggest business association on the Russian jewellery market, which unites 6489 jewellery stores from 806 cities of the Russian Federation and trade partners from the CIS and Baltic countries. Russian Jewellery Trade Club organises the Buyers Group including leaders of Russian jewellery retailing. They are as follows: DEALER-YUVELIR General Director: Misrikhanov Alexander 43, M. Gorkii St., Mahachkala, Dagestan, 367000, Russia Tel.: +7 (8720) 267-43-93; +7 (872) 267-51-59 E-mail: firstname.lastname@example.org, email@example.com ALMAZ-NEVA (ALROSA) General Director: Israelyan Aram 10/12, 1-st Kazachy per., 119017, Russia Tel.: +7 (495) 620-92-50, +7 (495) 662-36-26 Fax: +7 (495) 411-75-15 Telex: 113258 “Almaz” RU Email: firstname.lastname@example.org
KAMAR General Director: Kazaryan Artashes 19/2, Lavochkina St., Moscow, 125502, Russia Tel.: +7 (495) 455-53-11, +7 (962) 922-75-39 Email: email@example.com K. MOZER Ltd. Moscow office General Director: Korzennikov Sergey 2/10, B. Cherkassky per., Office 512, Moscow, 109012, Russia Tel.: +7 (495) 661-09-85 Email: firstname.lastname@example.org
ENTREPRENEUR Piryutko Mihail 12, Komsomolskaya St., Bryansk region, Nozybkov, 243020, Russia Tel.: +7 (483) 435-13-84
ENTREPRENEUR Gerasimenko Valery 122, Zhukovskogo St., Arsenyev, Primorsky Kray, 692342, Russia Tel.: +7 (423) 614-66-08 Fax: +7 (423) 614-66-08 Email: email@example.com
RUSSKIYE SAMOTSVETY Corp. General Director: Dokuchaev Sergey 8, Carl Faberge Sq., St. Petersburg, 195112, Russia Tel.: +7 (812) 528-01-03 Fax: +7 (812) 528-09-18 Email: firstname.lastname@example.org
PERVII CHASOVOI ZAVOD “STIL” General Director: Timerbaeva Natalya 2/8, Malaia Krasnoselskia St., building 7, office 403, Moscow, 107140, Russia Tel.: +7 (495) 984-22-35. Fax: +7 (495) 984-22-35 Email: email@example.com
ENTREPRENEUR Slotin Serguey 21, Vorovskogo St., Kirov, 610002, Russia Tel.: +7 (833) 267-38-92, +7 (833) 237-13-22 Fax: +7 (833) 267-38-92 Email: firstname.lastname@example.org PREMIER General Director: O’Shennon Elena 11a/2, Seleznevskaya St., Moscow, 127473, Russia, Tel.: +7 (495) 739-33-25 Email: email@example.com GOLD MOUNTAIN (ENTREPRENEUR Goldenberg Oleg) 15, Lenin St., Pervouralsk, Sverdlovskaya oblast, 623100, Russia Tel.: +7 (343) 966-84-83 Fax: +7 (343) 966-84-82 Email: firstname.lastname@example.org
TECH Official Representative CIBJO in Russia – RESTEC JUNWEX – presents leading distributors of jewellery equipment and machinery on Russian market. They are well-established companies reputed as reliable partners. KLIO General Director: Vasilenko Yuri. 6, Leninsky Pr., Moscow, 119991, Russia Tel../Fax: +7 (495) 730-21-95, +7 (495) 237-39-96, +7 (495) 237-48-42, +7 (495) 237-67-66 www.kliogem.ru
RUTA General Director: Kondrashov Georgy 23, Posadskaya St., Ekaterinburg, 6 20086, Russia Tel.: +7 (343) 376-15-54 Email: email@example.com www.ruta.ru
LASSO General Director: Kazantsev Serguey 126, Electrolitny proezd, Moscow, 115230, Russia Tel.: +7 (495) 661-91-41 Fax: +7 (495) 661-91-41 Email: firstname.lastname@example.org www.lasso.ru
JMO General Director: Laishev Rashid 8/7, Vatutina, St. Petersburg, 195197, Russia Tel.: +7 (812) 540-56-39, +7 (812) 542-35-70 +7 (812) 542-30-07, +7 (812) 542-66-21 office@jmo www.jmo.ru
PROMYSHLENNYE TECHNOLOGUII General Director: Chartoriysky Vitaly 25, Tsvetochnaya St., office 508, St. Petersburg, 196084, Russia Tel./Fax: +7 (812) 718-76-02 e-mail: email@example.com • www.otecru.com
Russian Jewellery Trade Club Tel./fax: +7 (812) 235 83 83 • E-mail: firstname.lastname@example.org • Internet: www.rjexpert.ru
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