Tiffany & Co. shared a big resolution to kick off 2019. The iconic jewelry company made a vow of transparency on Wednesday, January 9, to reveal the origin behind its diamonds used in engagement rings and other pieces.
By 2020, all Tiffany customers will have access to information regarding each diamond, including the region or country from where the stone is sourced, under the “Diamond Source Initiative.” The way it works is simple. Each diamond greater than 0.18 carats will be accompanied by a serial number–invisible to the naked eye–that will allow clients to see the journey behind the stone.
Starting Wednesday, the company also refreshed its display properties in stores to reveal the provenance of certain diamonds. Currently, most of the brand’s diamonds are mined in Botswana, along with South Africa, Namibia, Canada and more.
“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,” Tiffany & Co. CEO Alessandro Bogliolo said in the release. “There should be nothing opaque about Tiffany diamonds. Our clients want and deserve to know where their most valuable, most cherished diamond jewelry is from, and how it came to be.”
According to The Knot’s 2017 Jewelry & Engagement Study, the average engagement ring spend is up at $6,351. The most popular cut is a round center stone with 1 in every 2 couples seeking this particular shape, while the average carat of the overall ring is 1.8 carats.
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