Connect with us

Press Releases

WFDB Welcomes the GIA’s Changes to Reports for Lab-Grown Diamonds

The GIA said its reports will be changed to come into line with revisions to the U.S. FTC Jewelry Guides.

mm

Published

on

(PRESS RELEASE) ANTWERP, BELGIUM – The World Federation of Diamond Bourses (WFDB) has welcomed overall the changes by the Gemological Institute of America (GIA) to its reports for lab-grown diamonds. The GIA said its reports will be changed to come into line with revisions to the U.S. Federal Trade Commission (FTC) Jewelry Guides announced last year.

As of July 1, the GIA will discontinue the GIA Synthetic Diamond Grading Report and introduce, instead, the GIA Laboratory-Grown Diamond Report. WFDB President Ernie Blom said he was pleased that although the reports will include the standard GIA color, clarity and cut grading scales for reference purposes, they will continue to use Colorless, Near Colorless, Faint, Very Faint and Faint to report the color grades for laboratory-grown diamonds, rather than the letters used to report the color grades used for diamonds.

Podcast: Hear Secrets of Cool From the Only Full-Time Employee of America’s Coolest Small Jewelry Store
America's Coolest 2019 Entries

Podcast: Hear Secrets of Cool From the Only Full-Time Employee of America’s Coolest Small Jewelry Store

Podcast: A Flash of Cash and Other Meditations on the Value of Jewelry
Over the Counter

Podcast: A Flash of Cash and Other Meditations on the Value of Jewelry

Podcast: Craig Husar Discusses His Career, and His Spectacular New Store, on ‘The Barb Wire’
The Barb Wire

Podcast: Craig Husar Discusses His Career, and His Spectacular New Store, on ‘The Barb Wire’

“In addition, we are happy to see that the reports will continue to use Flawless, Internally Flawless, Very Very Slightly Included, Very Slightly Included, Slightly Included and Included to report clarity grades, rather than VVS1 and VVS2; VS1 and VS2; SI1 and SI2; and I1, I2 and I3 used to report the clarity grades for diamonds.

“Although ‘synthetic’ will not be used in the reports and will be replaced by ‘laboratory grown’ in the identification line, we welcome the fact that the reports will also include the statement: ‘This is a man-made diamond produced by CVD (Chemical Vapor Deposition) or HPHT (High Pressure High Temperature) growth processes and may include post-growth treatments to change the color. In addition, all detected clarity treatments will be disclosed.’

“As I have often said in the past, we have nothing against the lab-grown diamond sector. We only ask that such stones be fully disclosed so that consumers are aware of what they are being offered. These are different products with their own niche market and there is no need for ill-feeling or for dubious claims and advertising to be used against diamonds, such as the claims that lab-growns are eco-friendly and that diamonds are not. We must have fair marketing that does not denigrate other products.

“The global diamond industry made its views known to the GIA during its decision making process, and I am pleased that this very important global institution gave weight to the industry’s concerns. I call on the other labs to follow suit to ensure that their reports are clearly differentiated for lab-grown stones because this is a vital issue for the diamond trade,” Blom added.

Advertisement

Advertisement

SPONSORED VIDEO

Gene the Jeweler

Gene the Jeweler Gets Kicked Out of the Studio

In the latest episode (#42) of Gene the Jeweler, Gene is going about his business, recording a new episode. But that doesn’t last long. Four-time NFL Pro Bowl leading rusher Ahman Green walks in, and Gene finds that his time in the studio is over — whether he likes it or not. (See more Gene the Jeweler episodes at instoremag.com/gene.)

Promoted Headlines

Press Releases

Jewelers Mutual named to 2019 Ward’s 50

The award recognizes outstanding financial results in the areas of safety, consistency, and performance over a five-year period from 2014-18.

mm

Published

on

(PRESS RELEASE) NEENAH, WI – Jewelers Mutual Insurance Company has been named to the 2019 list of Ward’s 50 top performing insurance companies, marking the ninth consecutive year for this recognition. The award recognizes outstanding financial results in the areas of safety, consistency, and performance over a five-year period from 2014-18.

“Our team at Jewelers Mutual continues to look for ways to strengthen and evolve our business,” said Scott Murphy, Jewelers Mutual president and CEO. “Being among those recognized to Ward’s 50 for another year is an honor.”

The list of Ward’s 50 top performing insurance companies was released on July 17 by Ward Group, an Aon Hewitt company and the leading provider of operational and compensation benchmarking and best practices services for insurance companies.

To develop its annual list of the top 50 performing insurance companies, Ward Group analyzes the financial performance of nearly 3,000 property-casualty insurance companies and 800 life-health insurance companies domiciled in the United States and identifies the top performers in each segment based on objective data and subjective quality measures. Each company has passed all safety and consistency screens and achieved superior performance over the five years analyzed.

A complete list of the 2019 Ward’s 50 companies for property-casualty is located at WardInc.com.

Continue Reading

Press Releases

Industry Executives Convene for GIA’s Global Leadership Program at Harvard Business School

It was held June 24 to 27.

mm

Published

on

(PRESS RELEASE) CARLSBAD, CA – GIA’s Global Leadership Program at Harvard Business School (HBS), held June 24 to 27, brought together senior gem and jewelry executives for a custom four-day curriculum led by world class professors and based on the renowned HBS case study method. This year’s class, the largest in the six-year history of the program, explored exciting case studies focused on innovation and discussed how to apply the lessons from those cases to the challenges facing the global gem and jewelry industry. The exceptional group of leaders represented the broad scope and diversity of the industry.

“This unique program creates an opportunity for thought-leaders to candidly discuss new ideas and approaches to their day-to-day work and long-term goals,” said Susan Jacques, GIA president and CEO. “This program, now in its sixth year, is a direct extension of our renowned education heritage.”

Video: Hand Out Specialty Items That Jewelry Buyers Actually Care About
Jim Ackerman

Video: Hand Out Specialty Items That Jewelry Buyers Actually Care About

Video: Stop Asking Jewelry Customers ‘What’s Your Budget?’
Jimmy Degroot

Video: Stop Asking Jewelry Customers ‘What’s Your Budget?’

Waiter Donates $200 to Jeweler’s Fundraiser, Wins Billionaire’s Heart, Gets Dream Job
Headlines

Waiter Donates $200 to Jeweler’s Fundraiser, Wins Billionaire’s Heart, Gets Dream Job

The GIA Global Leadership Program focuses on new research and best practices to deliver actionable insights. Upon successful completion of the program, participants were awarded a certificate from the Harvard Business School.

GIA, in conjunction with HBS, initiated the program in 2014. The goal of the four-day residential program is to bring together global leaders from different sectors of the gem and jewelry industry to examine issues faced by international businesses, and apply the lessons learned in other industries to their own businesses. The program also provides an unparalleled networking opportunity for senior executives, building bridges between different sectors of the global gem and jewelry supply chain.

GIA will hold its next Global Leadership Program at Harvard from June 22-25, 2020. Participation is limited and by invitation only.

For press inquiries, please contact Nellie Barnett at nbarnett@gia.edu or +1 760-603-4184.

Continue Reading

Press Releases

Frederick Goldman’s Jewelry Solutions Group Taps Two Industry Professionals

They bring extensive experience to the company.

mm

Published

on

John Badee and Donna DeLucia

(PRESS RELEASE) SECAUCUS, NJ – Frederick Goldman’s recently formed Jewelry Solutions Group has added Donna DeLucia, as senior director of technical sales, and John Badee as director of manufacturing and engineering.

Donna DeLucia, formerly of John C. Nordt and LeachGarner, brings extensive product knowledge and an ability to forge deep customer relationships for Frederick Goldman, Inc.

John Badee, formerly general manager at Riva Precision, a well-regarded high-end manufacturer of cast and machined products, will strengthen Goldman’s manufacturing capabilities as it continues to grow its On Demand and OEM business through the Jewelry Solutions Group.

“We are extremely fortunate to retain John and Donna as we expand our On Demand and OEM customer base and product offering,” commented Jonathan Goldman, chairman and CEO of Frederick Goldman, Inc. “This is a fast-growing segment of our business that has been universally, and enthusiastically, accepted by our customers. Quick-make, inventory light, high-quality, and on demand products satisfies the needs of all retailers today. We look forward to great things from Donna and John as the Jewelry Solutions Group scales under the leadership of our COO, John Orrico.”

For inquiries about the Jewelry Solutions Group, please email JSG@FGoldman.com.

Continue Reading

Advertisement

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Latest Comments

Most Popular