Tiffany & Co. is making good on its promise to offer consumers a complete lens into the origins of its diamonds.
For Tiffany chief executive officer Alessandro Bogliolo, "There couldn't be better timing than this to announce such an initiative, even though we started [the process] 20 years ago. It was just the decision of my predecessor to do the right thing and we are fortunate to give consumers visibility to the efforts the company has given in the last 20 years."
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.
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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get that out of your mouth, plz, colonizer 🤨
Good. I like my blood diamonds responsibly sourced.
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