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Tiffany & Company to share with customers provenance of its diamonds
Author: New York Times, Published on: 9 January 2019
'You Know Your Diamond's Cut and Carat. But Does It Have Ethical Origins?' 8 January 2019
Beginning Wednesday, [Tiffany & Company] will start a program that will identify for customers the country where their diamond was mined, and, eventually, information on where it was cut, polished and set...
The issue of sourcing is especially acute with diamonds, which change hands many times from mine to showroom. More buyers are asking for specific evidence that their gems were not produced using child labor or to finance wars or terrorist activity — the concerns over so-called blood diamonds...
..Initially, [Tiffany & Company] will tell customers the country where the diamond came from. In 2020, it will share information about where each diamond was cut, polished and set. Mr. Bogliolo said he hoped to someday be able to provide the name of the mine where it was found, the artisan who shaped its contours and the jeweler who secured it in its setting...
...Although the company hopes its information-sharing campaign endears it to younger buyers, the initiative has its limits... the company buys its rough diamonds from suppliers who acquire the stones from various mines. The country-of-origin information comes from these middlemen and does not link diamonds to specific mines. So the company, which has guaranteed for years that its gems are conflict-free, is asking customers to trust its judgment that particular countries, such as Canada or Botswana, are ethical producers.
Related companies: Tiffany