Moscow: ALROSA is to rename its ARCOS foreign-based trading subsidiaries and affiliates.
The ARCOS sales network will be renamed and offices will bear a name of ALROSA and their region of location. ALROSA will also carry out relevant rebranding.
The decision was made to identify ALROSA with its own sales network and provide clients with the guarantee of origin and quality of rough and polished diamonds sold through the network.
Renaming the company's subsidiaries and affiliates is a part of common concept of creating ALROSA's single corporate brand. The renaming procedure will probably take four months, the miner said in a statement.
Since 1993, English trading company Arcos (Anglo-Russian Cooperative Society) Limited has been a trading company engaged in exports related to the supply of equipment for the diamond industry.
It gave its name to all ALROSA's subsequent regional trading and marketing offices (Arcos USA, Arcos Belgium NV, Arcos Hong Kong, Arcos East DMCC, Arcos Diamonds Israel). ALROSA sold Arcos Limited this year, following which its connection with the initial trademark was lost, the firm added.
