Promising idea looks as valuable as precious metal

First jewellery holding planned for Belarus

By Olga Belova

The holding’s formation has already begun, with Gomel’s Kristall Production Association uniting with Belgran JSC; Belyuvelirtorg is also to join, allowing jointly co-ordinated production, with shared marketing schemes and logistics. This should lead to expanded sales — primarily domestically.

Kristall’s General Director, Ruslan Sorokovoy, notes that such unions are likely to become more common now that Belarus has joined the Single Economic Space. “The Belarusian market is more systematised, lacking illegal imports. Meanwhile, many products from South-East Asia are being offered in Russia under Russian brands,” he says. He expects these to penetrate the Belarusian market, so local manufacturers must be ready for such competition. “We aim to strengthen our position on the domestic market by using better design and quality, alongside certain marketing strategies,” he explains.
Analysing the results of Kristall’s work, Mr. Sorokovoy notes that the company has raised its share on the Belarusian market from 14 to 20 percent; in turn, Belgran’s share has risen to 2 percent from just 1. “Our joint increase has reached 22 percent (from 15),” he asserts. “We’ve significantly strengthened our market position within a single year, while the profitability of our products now exceeds 20 percent.”

Besides expanding its presence on the Belarusian market, Kristall has been increasing its exports, selling 8 percent more abroad last year (against 2010); its foreign economic turnover exceeded $80m. At present, the company sells its jewellery and precious stones to Russia, Belgium, Israel and the USA.

Not long ago, PM Mikhail Myasnikovich visited the company, viewing its development, and learning more about the jewellery holding.

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