FORMICA GROUP: Industry Innovation of the Year.
Show Daily #1 | Hong Kong Jewellery & Gem Fair | 11 September 2013
Formica Group specializes in the manufacturing and sales of synthetic crystals and materials for jewellery industry – both in rough and faceted form. The company was founded in Moscow, Russia in 1992 by a group of researchers from the Geological Institute of the Russian Academy of Sciences.
Currently, Formica Group comprises nine companies in different countries and cities, with a total staff of over 120 people. It has a diverse product portfolio and a wide-reaching client base. “Our buyers are jewellery factories producing silver and gold jewellery. Most of these factories are located in India, China, Thailand, Vietnam, Turkey, Italy and Russia, hence these countries are our main markets. At the moment, the biggest and steadly growing sales are coming from Thailand and China”, said company CEO Dr. Karen Avakyan.
Originality, creativity and initiative are highly valued and cultivated at Formica Group. “I started the business when I was already 35 years old. By that time, I was already holding a PhD in Geology and Mineralogy, and worked as Chief of the Laboratory in the Geological Institute of the Russian Academy of Sciences,” said Dr. Avakyan. “In science, you always need to implement the same innovative approach in business in order to extend our range and create new and exciting products”.
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