Pallinghurst Resources has approached Alrosa to combine efforts in developing a ‘powerful Russian brand’ for the diamond industry, as reported by Reuters. This comes at a time when Alrosa was denied the right to supply diamonds to De Beers after 2009, according to the EU anti-trust deal. The association between the two entities will help leverage Alrosa’s marketing scope, while strengthening the deliverables of Pallinghurts’s Faberge brand; a perfect combination to make a powerful Russian brand.

Faberge has been delivering luxury goods since 1842, when it was created by Russian jeweller Gustav Faberge. Now, it would also sell Alrosa diamonds as Faberge Russian diamonds, and as per Pallinghurst’s strategy, sell coloured gemstones with the same strength that De Beers gave to diamonds. For its coloured gemstones endeavour, Pallinghurst is undertaking a reverse takeover of Gemfields Resources Plc, which owned a stake in the Kagem emerald mine.