NEW YORK — Tiffany & Co. announced that it will begin sharing with consumers the geographic origin of its newly sourced, individually registered diamonds.
The company said the decision is “a significant step for diamond transparency.” It stated that by 2020, it will begin sharing its diamonds’ craftsmanship journey.
With its 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 geographic sourcing information specific to their diamond.
“Beyond general assurances of ‘conflict free,’ Tiffany believes that knowing provenance is critical to ensuring its diamonds are among the most responsibly sourced in the world,” the company said in a press release.
“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,” said Alessandro Bogliolo, CEO of Tiffany. “Our clients want and deserve to know where their most valuable, most cherished diamond jewelry is from, and how it came to be.”
The company said that in cases where provenance is unknown, such as heritage stones that predate the policy, it will provide confirmation that the diamond was sourced with industry-leading practices.
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“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,” said Anisa Kamadoli Costa, chief sustainability officer for Tiffany. “A transparent journey of responsible sourcing reflects the many positive and far reaching benefits along every step of the diamond supply chain.”
The company stated:
Tiffany’s superlative standards exceed the Kimberley Process Certification requirements for rough diamonds and, for polished stones, mandate compliance with Tiffany’s Diamond Source Warranty Protocol. In the case of one trusted supplier with several responsibly managed operations, diamonds may be designated ‘Botswana sort.’ The majority of these diamonds were mined in Botswana, as well as in select mines in Namibia, South Africa, or Canada. For ‘Botswana sort” stones, provenance is the above grouping of countries, procured as an aggregated parcel of rough diamonds from a specific, limited group of mines in Southern Africa and Canada.
Tiffany & Co. is unique among global luxury jewelers in owning and operating its own diamond polishing workshops around the world – where 1,500+ Tiffany artisans ensure superlative diamond quality and craftsmanship. To highlight this competitive difference, by 2020, Tiffany will also share the craftsmanship journey of its diamonds along with its provenance.
Between 80 percent and 90 percent of Tiffany’s individually registered diamonds (by volume) have been supplied through Tiffany operations in Belgium, Botswana, Mauritius, Vietnam and Cambodia, where craftspeople plan, saw and/or cut and polish rough diamonds from known, responsibly managed mines, most of which are in Botswana, Canada, Namibia, Russia and South Africa, accordin to the release. For the remaining 10 percent to 20 percent, Tiffany’s trusted suppliers of polished diamonds have complied with Tiffany’s Diamond Source Warranty Protocol, which warrants the diamonds did not originate in countries with diamond-related human rights concerns, such as Zimbabwe and Angola, even though those diamonds are accepted under the Kimberley Process.
From now, those suppliers will be required to go beyond a warranty of “conflict-free” to affirmatively state the geographic source of any polished diamonds sold to Tiffany including region or countries of origin.
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