Estet was founded in 1991 by Gagik Gurgenovich Gevorkyan, who started with a small family workshop and built it into a manufacturing and retail jewellery house selling under the Estet and GEVORKYAN names. The company covers its own production as well as retail, which is unusual at this scale in Russia. Gevorkyan also chairs the Russian Jewellers Guild. The Vetkina Street address is the production and head office site.