Tiffany & Co. Now Offers a Complete Lens Into Diamonds’ Origins

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Tiffany & Co. Now Offers a Complete Lens Into Diamonds’ Origins
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.TiffanyAndCo is making good on its promise to offer consumers a complete lens into the origins of its diamonds.

Tiffany & Co. is making good on its promise to offer consumers a complete lens into the origins of its diamonds.

Each initiative is an industry first for a jeweler of Tiffany’s size. The jewelry industry has for years battled with issues of opacity around its sourcing of stones, labor practices and sustainability even as it tries to increase demand among Millennials, the younger of whom are beginning to get engaged and buying engagement and wedding rings.

Bogliolo noted that Tiffany’s transparency efforts will have particular resonance with young consumers. “In the past, if you look at our parents, they bought a diamond ring [for engagement] because it was the rule. Now, it’s up to every individual to decide, there is an option to buy or not. The value [of our traceability initiative] is huge because it’s an incentive to buy. I believe it can convince many customers to purchase a diamond instead of stepping away from it,” Bogliolo said.

While earlier indications hinted that Tiffany may extend its traceability efforts to colored gemstones, Kamadoli Costa said: “Given our business, we have a great opportunity with diamonds today, so we are focusing on diamonds right now. To give more context, about 80 percent of color gemstones come from small mines, so it is difficult to source their origins.”

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