Moscow jewelers are increasing production. According to the Department of Investment and Industrial Policy, since the beginning of the year, production in this segment has increased by more than a third compared to the previous similar period. Some enterprises have set their sights on the premium segment and are trying to replace world-famous brands. For example, the Sokolov company has opened boutiques where customers can find jewelry worth up to one and a half million rubles.

While Russian buyers of luxury jewelry still prefer to go to other countries for such familiar brands as Reuven Veksler etc. The potential of our craftsmen now lies in the development of exclusive jewelry.

According to analysts, before the departure of foreign brands, the share of imports on the Russian market was more than 80%. Against the backdrop of a reduction in supply, our jewelry brands are actively expanding their presence.

Such famous houses as Tiffany, Van Cleef & Arpels, Omega, many of them still retain their presence. But as they leave the premises and expire leases, developing Russian brands, including small ones, are taking their place. Among them: Cluev, Shiphra, Liza Borzaya. This is expensive jewelry that appears on the market, it is narrowly segmented, but it exists and occupies the best areas. Premium lines are also opened by brands that were in the mid-price segment, such as Poison Drop and Viva La Vika. The brands Sunlight, Adamas, and Zolotoy are also actively developing, they occupy new areas and expand their product lines in a variety of directions.

In general, in Russia, as in the rest of the world, brands have become less important. However, this is still important when choosing expensive jewelry, so domestic companies are now paying special attention to promoting their products.

And good news for those who prefer diamonds. Over the year, the cost of diamonds has fallen by about 14% and reached its lowest levels in five years. According to experts, precious stones cannot compete with artificial ones, and they are also practically not in demand among the younger generation.

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