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Consumers Stress Importance of Independent 3rd Party Verification of Diamond Social and Environmental Impact Claims

67% of respondents said they would be more loyal to a retailer or brand that sells diamonds verified by an independent 3rd party company.

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(PRESS RELEASE) AUSTIN, TX — A large majority of consumers consider independent 3rd party verification of diamond retailer, brands and manufacturer claims about social and environmental impact to be important, according to a research study by MVI Marketing LLC. Key findings from the research include:

• Over 85% of jewelry purchasers responded that independent 3rd party verification of chain of custody and social and environmental impact claims is Very or Somewhat Important for any diamond they want to purchase
Consumers of both mined diamonds and lab-grown diamonds in the study cited higher credibility, transparency to all parties and independent quality control as the top three reasons for this preference.

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“Retailers and brands should take notice of this growing trend among jewelry consumers and get on board early to establish credibility for any claims they make to position their brand above the competition,” stated Liz Chatelain, president of MVI.

Asked whether they would be more loyal to a retailer or brand that sells diamonds verified by an independent 3rd party company, 67% of respondent said Yes.

“We know from other studies that diamond consumers are becoming increasingly concerned and interested in the country of origin of the diamonds they purchase,” Chatelain continued. “This new study further confirms the need for claims of origin, as well as claims of social and environmental impact, to be independently verified. This is particularly important for claims related to sustainable production and responsible mining,” she added.

Asked how much confidence they would have if a company created its own standards for claims of social and environmental responsibility and then self-reports, consumers were not impressed. However, when asked if those same claims were also backed up by an independent 3rd party verification, consumers were much more confident.

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“Independent 3rd party verification of origin, safety, environmental and quality claims is standard practice in industries from food to cosmetics to automobiles. This research confirms that it’s time for the diamond industry, both mined and lab-grown, to give consumers what they want. At a time when the diamond industry is struggling to reassure the next generation of consumers, independent 3rd party verification will reinforce that trust,” notes Chatelain.

This MVI research study was completed in July 2019 by 1,506 fine jewelry consumers (77% from the U.S. and 23% from Canada) with household incomes over US$50K, and between the ages of 23 and 55.

The complete report can be downloaded here.

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Diamond Empowerment Fund Now Doing Business As Diamonds Do Good

The change will be celebrated at DDG’s signature event June 1 in Las Vegas.

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(PRESS RELEASE) NEW YORK – Seizing on the simplicity, significance and resonance of its “Diamonds Do Good” tagline, the Diamond Empowerment Fund announced that it will evolve its business name to Diamonds Do Good. In keeping with the change, the non-profit organization has reimagined its logo and will be doing the same to its signature Las Vegas event held on the eve of the opening of the JCK Show.

Inspired by Nelson Mandela in 2007, over the past 12+ years the Diamond Empowerment Fund’s mission has supported programs that develop and empower people in diamond communities around the world. In recent years, its mission expanded to exemplify and tell the stories of the good that natural diamonds do for people in the communities where they’re mined, cut, polished, and sold. Those stories have resonated with consumers and the trade alike: consumers have a better image of the natural diamond industry, and are more interested in purchasing a natural diamond after reading the ‘do good’ stories hosted on diamondsdogood.com. Likewise, members of the industry now identify their own sustainability programs under the ‘do good’ banner and use #diamondsdogood in their social media outreach, further building on the message and ensuring that diamonds continue to be a source of sustained economic development around the world.

Having created and trademarked the Diamonds Do Good name in 2014, the organization will now identify itself under this moniker moving forward, and has rebranded itself with a fresh, new look to mark this evolution. It will be celebrated at DDG’s signature event June 1 in Las Vegas, as a reimagined evening and experience that draws the industry’s top global leaders.

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Bangkok Gems & Jewelry Fair to Be back in February 2020

Respond by February 14th, 2019 to get special free privilege for Trade Missions.

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(PRESS RELEASE) Apart from showcasing extravagant collections of jewelry and offering an international trading platform twice a year, the Bangkok Gems & Jewelry Fair has become a place where trust is established, and where business partners have turned into friends from long years of trading.

With quality products from manufacturers, traders and designers, lasting relations could be enhanced at the 65th edition of the Bangkok Gems and Jewelry Fair from February 25 to 29, 2020 in Bangkok, Thailand.

For the pre-registration form, click here. Email the form back at ttclausa@att.net or FAX: 323 466 1559.

Respond by February 14th, 2019 to get special free privilege for Trade Missions.

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Jewelers Mutual Donates $500,000 to Three Organizations in Charitable Campaign for 2019

The amounts donated to these organizations were based on votes by the company’s personal jewelry policyholders.

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(PRESS RELEASE) NEENAH, WI — In honor of Giving Tuesday, Jewelers Mutual Group announced the culmination of its charitable campaign for 2019, resulting in $500,000 in donations to three deserving organizations. Funds were distributed this week to Feeding America, the Kids In Need Foundation and Special Olympics. The amounts donated to these organizations were based on votes by the company’s personal jewelry policyholders.

“It is important to have our policyholders be a part of our give back efforts because we share a mutual passion to help others in need. By encouraging them to vote, they made their voices heard, and were able to support the causes they are passionate about,” said Scott Murphy, Jewelers Mutual president and CEO. “Together, we really can do more, and we’re thrilled with the interest, engagement and the results this campaign has received both locally and on a national level.”

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More than 40,000 votes were made by Jewelers Mutual policyholders during the five-month voting period. Based on policyholder votes, Feeding America received $178,300, Kids In Need Foundation received $169,500, and Special Olympics received $147,200. Donations will also be made to Canadian organizations with similar missions.

How policyholders’ votes and corresponding Jewelers Mutual donations impacted the three organizations:

  • Feeding America
    The donation of $178,300 helps provide at least 1,783,000 meals.*
  • Kids In Need Foundation
    The donation of $169,395 supplies over 820 classrooms and 21,000 under-served students with supplies and resources. Additionally, Jewelers Mutual became the first national sponsor of GiftATeacher.org, a program which funds and provides enough school supplies to supply an entire classroom for a full semester.
  • Special Olympics
    The donation of $147,200 by Jewelers Mutual helped train approximately 2,450 Special Olympics athletes and provide a significant and life changing impact for individuals with intellectual disabilities.

Jewelers Mutual encourages and supports its employees to be socially responsible and involved in their community. In addition to the dollars being donated, employees volunteered their time to assist all three organizations in 2019– sorting meals and stocking food for Feeding America Eastern Wisconsin, a member of the Feeding America network; taking part in the Polar Plunge for Special Olympics; and, packing and distributing 2,000 backpacks for the Kids In Need Foundation.

Jewelers Mutual looks forward to continuing its philanthropic pursuits in 2020 to support charitable organizations important to its employees and policyholders. For more information on how Jewelers Mutual gives back, visit JewelersMutual.com/social-responsibility and check out this video and infographic highlighting the past year.

*$1 helps provide at least 10 meals secured by Feeding America on behalf of local member food banks.

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