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Editor's pick product sustainability technology

Tiffany introduces diamond provenance tool

Tiffany & Co. is introducing a new provenance tool as it strives to meet its 2020 goal of making the entire journey of its stones transparent. The Diamond Source Initiative will share the origin of all of its mined diamonds which are larger than 0.18 carats.

“We are ushering in a new era of transparency for diamonds,” said Tiffany’s chief sustainability officer Anisa Kamadoli Costa. “This is something we have long been working on — the sustainable, vertical integration of our supply chain.”

The provenance of each stone will be proven by the engraving of a unique serial number, which will not be visible to the human eye. When customers purchase a piece of jewelry featuring the stone, they will receive a certificate that verifies its origin.

The new tool is part of a sustainability goal wherein by 2020, the brand hopes to be able to track and share the entire craftsmanship journey of all of its stones, from where they are mined to where they are cut and polished.

By launching this tool, Tiffany is aiming to attract younger consumers who are keen to better understand where their purchases come from, and whether they meet their sustainable standards. Millennial consumers are also showing a growing interest towards lab-grown diamond stones, which have a lower carbon footprint than their mined counterparts, while also historically not being linked to conflict.

Tiffany is not the first jewelry brand to initiate a diamond provenance tool, however. In January 2018, DeBeers partnered with IBM to pilot a blockchain tool that could trace the entire journey of its diamonds, ensuring they are conflict-free and natural.

How are you thinking about sustainability? We’re all about finding you the perfect partners to do so. TheCurrent is a consultancy transforming how fashion, beauty and consumer retail brands intersect with technology. We deliver innovative integrations and experiences, powered by a network of top technologies and startups. Get in touch to learn more.

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Events technology

Vote for us at SXSW: Blockchain for radical transparency

Blockchain for radical transparency
Blockchain for radical transparency

In 2019, we’re returning to SXSW in Austin, Texas, in a big way… but we need your help! In addition to insight-gathering and producing exclusive events like live podcast recordings, our aim is to host three panels. But we need your vote to get us on the official schedule. Could you support us?

Our first panel is all about blockchain for radical transparency. In the post-truth era, consumers are increasingly skeptical about their relationship with brands and as a result, demanding an unprecedented level of information and access.

Beyond the buzz, blockchain is set to become one of the most important technologies required for meeting such expectations; bonding customers and brands together in the process.

But what does that really mean? We’ll be unpacking it with a group of experts, including Nina Shariati, who leads transparency and innovation at H&M Group; Feriel Zerouki, who is head of international relations and ethical initiatives at DeBeers, and Laurence Haziot, global managing director of IBM. The conversation will be led by our chief innovation officer, Rachel Arthur.

We’ll discuss how blockchain is allowing brands to future-proof their supply chains and what it takes to prepare for a landscape where transparency is the new norm.

Click to vote
Click to vote

So if you want to see this panel in Austin, please vote for us! Doing so is easy, just login or create a quick PanelPicker® account via panelpicker.sxsw.com. Then find our Blockchain for radical transparency panel here and all you have to do is click on the “Vote Up” button in the top lefthand column.

Blockchain is of growing relevance to the consumer retail industries, and one we’re following extremely closely. To get a headstart on what it’s all about, be sure to also listen to our podcast with Haziot of IBM, recorded in London recently.

Our other panels at SXSW include How streetwear turns hype into $$$ and The future of connected beauty. Please vote for them too!