Choron Diamond CEO’s view on 2010 & expectations in 2011

The Russian economy in 2010 has proved to be much better than in 2009. Since this crisis erupted in 2008, the economy has been improving slowly but, nevertheless, steadily. As per today I can name the shortage of liquidity as one of the basic characteristics of the economy.  Speaking about our industry, the current market trend that resulted from the global crisis is that consumers have switched their interest to lower-value goods, which is perfectly understandable. Still, the polished diamond export results are satisfactory.

Your assessment of your company's operations in 2010

This year has been rich in events for us. First off, it was marked by the Choron Diamond Cup project, which was the special prize for the 2010 Russian Football Championship. A lot of work has been done to attract people’s attention not only to the Cup, a unique masterpiece of jewelry art, but also to the scheme of its presentation, which implies an equal input from both the youth and senior teams to the club’s victory. 

“This year has been rich in events for us. For instance, in 2010, we received the news that we have been named the ‘Best Exporter in 2009,’ the ‘Best Taxpayer in 2010’ and the ‘Best Indian company.”

We also received the news that we have been named the ‘Best Exporter in 2009,’ the ‘Best Taxpayer in 2010’ and the ‘Best Indian company,’ according to the Indian Business Alliance. Such recognition from different and highly esteemed organizations is flattering indeed. In line with the above-listed tendencies, our sales of lower-value jewelry have increased. Similarly, the volume of our polished diamond export has being going very intensively. Altogether, the year has been positive for us and we are confident about closing it successfully.

Your business expectations, as a company CEO, in 2011

I see an optimistic trend emerging from my experience of 2010. There has been a steady rise in market activity since the beginning of the financial meltdown in 2008, but still I see what you can call a revival only in the second half of 2011.

Your company's plans for 2011, taking into account your expectations from next year 

Our first goal for 2011 is to open our own retail shops. This will be an important step that will contribute to our further growth, and we are working hard on that now. Meanwhile, we are looking forward to continuing our football project. Indeed, we have so many projects in pipeline and we cannot wait to bring them all to life.