The company is the oldest surviving manufacturer of Russian crystal and was founded in 1756 on the Gus River.
In the summer of 1756, a merchant from Oryol region, Akim Maltsev founded a glass factory in the Vladimir Province of the Moscow Governorate, near the Gus River.
In the final years of the Russian Empire, the Maltsev heirs not only renovated the factory but also reconstructed much of the city, building red brick houses for workers that still stand today, as well as individual cottages for management and the St. George Cathedral.
[5] On January 19, 2012, the factory in its previous form ceased to exist, and the last hundred employees were laid off.
New equipment was installed in the old workshop, and instead of traditional vases and glasses, the production of handcrafted crystal art pieces by individual orders was established.