Sunlight (jewelry company)

Sunlight is a Russian jewelry company.

History
In 1995, Novocherkassk entrepreneurs Sergey Gribnyakov and Mikhail Maslovsky (later joined by Alexey Konovalov) founded a distribution firm "Onyx". In mid-2005, the partners introduced their own brand Sunlight, which was offered in branded zones at other retailers. In 2009, the first Sunlight store opened in Moscow. In the following years, the focus on the low-cost segment allowed the company to grow despite the 2007—2008 global financial crisis and the 2014 financial crisis in Russia.

Through the company's wide distribution network, Sunlight jewelry was sold in roughly 1,000 jewelry stores nationwide. From 2011 to 2015, the company offered a low-cost and low-risk franchise without lump-sum fees and royalty payments. It helped the company to expand its own chain: in 2014, 258 stores totaled 6 billion rubles in revenue, making it the 6th largest jewelry retailer in Russia.

By 2020, the company operated 350 stores and an online marketplace that offered Sunlight along with other jewelry brands, such as Sokolov, Aethet, Bronnitsky Jeweller, and more. In 2023 the company announced the launch of its dating service integrated into the retail chain's app.

Company
Sunlight focuses on low-cost segment and produces compact (thus requiring a lower volume of precious metals) jewelry with small jewels or diamond chips instead of full diamonds to reduce price. The company's facilities are located in Kostroma, Novosibirsk, Ekaterinburg, Krasnoyarsk, Izhevsk, Moscow, and Saint Petersburg.

The company is headed by Maksim Khivintsev as CEO and Sergey Gribnyakov as the chairman of the board. In 2020, the company reported 34 billion rubles in revenue and 2.8 billion rubles in net income. According to Infoline Analytics, by mid-2022, the company had a market share of 13.7%.

Controversy
Sunlight became widely known for aggressive marketing, including fake clearance sales "due to store closure", which even became an internet meme. In 2019 and 2020, the company was fined by the Federal Antimonopoly Service for misleading ads.

Financial indicators
The Sunlight jewelry store chain increased its total sales in 2023 by 49% compared to the previous year, to 78 billion rubles, including VAT.

Owners and directors
The Sunlight store chain belongs to LLC "Sunlight" ("Солнечный свет"). Owners is Sergey Gribnyakov.

CEO:


 * from August 2022 to March 2023 — Dmitry Lazarev
 * from March 2023 to present — Igor Danilov