After 20 years of investment in sustainable sourcing, American jeweller Tiffany & Co. is leading the way in a ew era of transparency in the diamond industry — from a diamond’s provenance to its craftsmanship journey.
LAST YEAR, T Singapore did a full reportage on the challenges of a sustainable business model in the diamond industry. A brief back-story: Most of the established brands procure their rough diamonds from mining companies, who often do not disclose or have the ability to identify the mines of origin of the diamonds they sell. And as many as 40 million people work in these small-scale mines, which operate with little or no machinery, and sans safety procedures. Last year, a report by Human Rights Watch (a non-profit, non-governmental human rights organisation) listed Tiffany & Co. as the only brand to be awarded a “strong” rating for its efforts in responsible sourcing. We traced the American jeweller’s journey towards responsible mining and crafting, starting with its wholly owned subsidiary, Laurelton Diamonds, which manages its worldwide supply chain that sources for rough diamonds, then cuts, polishes and supplies the finished stones to Tiffany. Such a vertically integrated system bolsters responsible practice and contributes to accountability.
At the beginning of this year, Tiffany pushed the envelope further with the development of this initiative: The jeweller promises to provide specific regions or countries of origin for each of its individually registered diamonds. Reportedly, Tiffany is the only global luxury jeweller to provide such provenance to its individually registered diamonds. It is an important and significant step of transparency, especially in the industry where its origin of supply is often kept a secret. By next year, the craftsmanship journey of each of these diamonds will be disclosed as well.
How is this possible? T Singapore speaks to Tiffany’s chief sustainability officer, Anisa Kamadoli Costa, and senior vice president of diamond and jewellery supply, Andy Hart.
This story is from the April 2019 edition of T Singapore: The New York Times Style Magazine.
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This story is from the April 2019 edition of T Singapore: The New York Times Style Magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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