Tiffany & Co has revealed plans to enter a new era if diamond transparency.
From today, the American jewellery brand will begin sharing the provenance of its newly sourced, individually registered diamonds with its consumers, and by 2020 the business aims to share the entire craftsmanship journey.
With its new provenance programme, dubbed the Diamond Source Initiative, Tiffany is tracing each of its individually registered diamonds (0.18 carats and larger) by a unique ‘T&Co’ serial number etched by laser and invisible to the naked eye, and providing consumers with geographic sourcing information specific to their diamond.
Tiffany & Co chief executive officer, Alessandro Bogliolo, comments: “Diamonds, formed up to 3 billion years ago and brought to the earth’s surface by a miracle of nature, are symbols of the most important moments in our lives. There should be nothing opaque about Tiffany diamonds.
“Our clients want and deserve to know where their most valuable, most cherished diamond jewellery is from, and how it came to be.”
In a report (published last year, investigating the ethical practices of 13 of the industry’s top jewellers Tiffany & Co received the highest ranking. Now the business is looking to taking its commitment to ethical practices to the next level.
Effective immediately, the brand’s provenance information will be merchandised in Love & Engagement caselines in Tiffany stores around the world, alongside a selection of diamond rings with their individual provenance clearly displayed. In addition, geographic sourcing information for all individually registered diamonds will be made available to consumers via sales professionals and customer service.
During the first quarter of 2019, Tiffany will begin including provenance on its certificates for individually registered diamonds, and in 2020 the brand has vowed to share the entire craftsmanship journey, such as the cutting and polishing workshop location, in addition to provenance.
In cases where provenance is unknown – such as heritage stones that predate this new policy – Tiffany will provide confirmation that the diamond was sourced with industry leading practices.
“Tiffany & Co. has long been committed to diamond traceability and going above and beyond industry norms to promote the protection of the environment and human rights,” adds Tiffany & Co chief sustainability officer, Anisa Kamadoli Costa. “A transparent journey of responsible sourcing reflects the many positive and far reaching benefits along every step of the diamond supply chain.”