Alrosa to Sign Diamond Supply Deal With Signet – Report

(IDEX Online News) – Russian diamond mining monopoly Alrosa is close to signing a three-year supply contract with Signet Jewelers Ltd, one the largest jewelry retailers in the US and UK.

The London-based division of Signet will purchase $80 million worth of diamonds from Alrosa, according to the report in Russia Today.

In the US, The diamonds will be sold in jewelry in the United States at Kay and Jared jewelers, and in the UK at H. Samuel, Ernest Jones, and Leslie Davis outlets.

Alrosa currently supplies diamonds to Tiffany & Co., and at the end of last year also signed supply deals with Chow Tai Fook and Rosy Blue.

There was no immediate comment from Signet Jewelers.