Consumer demand for authenticity, transparency and sustainability is driving the adoption of diamond traceability innovations, some of the jewellery industry’s most influential voices in diamond track-and-trace technologies said in a recent webinar.

Powered by Informa Markets Jewellery and JNA, in partnership with Sarine, the webinar, “From the Mine to the Store: Why Diamond Traceability Matters,” featured an expert panel consisting of David Block of Sarine Technology Group, Lee Tin-Hei, Jade of Chow Tai Fook Jewellery Group, Rahul Jauhari of Star Rays and Eira Thomas, president and CEO of Lucara Diamond Corporation. Dr. Miro Fei-Yeung Ng of the Centre for Gemmological Research served as the session’s moderator.

The webinar recording is now available online in English and Chinese.

The consumer’s growing interest in diamond provenance is compelling retailers and other sellers to integrate from mine-to-market traceability solutions into their operations, said Block of Sarine. The company is known for its proprietary Sarine Diamond Journey™ programme, which traces a diamond’s provenance from its rough form to a beautiful polished gem.

“There are certain segments of consumers that we see growing today who care where products come from. They want to understand how these products were manufactured and how they impacted the world – whether socially or environmentally,” he said. “That segment of consumers is an important and a growing segment in today’s world, especially with the younger consumer. They are demanding this information.”

Viewed as the ultimate luxury gemstone, diamonds are held against even higher standards because of their unique status. Unlike other coveted luxuries, diamonds are prized for their beauty and the emotional value attached to them.

“I think consumers today really want to understand where their products are coming from – diamonds in particular. They want to know that they are supporting responsible businesses that care about the environment and have strong commitments to their local communities and social goals, and that these companies are well governed. Certainly, as producers of diamonds right at the mine side, we want to ensure that we are supporting that traceability right from Day 1 when that diamond is actually unearthed and recovered out of the ground at its source,” said Thomas of Lucara, the driving force behind CLARA – a secure web-based digital marketplace for the transaction of rough diamonds.

Lee of Chow Tai Fook underscored the market’s positive response to the jewellery retail giant’s traceable diamond programme, T MARK, which is committed to the full disclosure of a diamond’s life journey, from the mine to the store. The brand is anchored in the 4Ts concept – “Traceable, Transparent, Truthful and Thoughtful.”

“When customers come to our shops, we share with them the 4Ts concept. It’s a good selling point for us, in addition to the beauty and the art of the diamonds we create,” said Lee. “Right now T MARK diamonds contribute one-fourth of our whole diamond sales. We see it’s still accelerating; it is growing every year. Customers are aware this is important and they are willing to spend more on T MARK diamonds.”

Demand for diamond traceability will only further gain momentum in the coming years, Jauhari of diamond manufacturer Star Rays said. Star Rays uses the Sarine Diamond Journey™ to give buyers the complete story behind its diamonds.

“Compared with other industries, the awareness has rather been a little slow in our industry but that doesn’t mean that it would remain an option. We will see more and more diamonds coming onto the traceability platform,” he said.

Leading luxury brands have made diamond provenance and traceability one of their pre-requisites when it comes to diamond sourcing, and are even prepared to pay premium prices for such goods, Jauhari continued.  

“It is just a matter of time before this concept becomes mainstream, and that it is no longer an option for people,” he added.

Did you miss this webinar? You may watch the English and Chinese recording of “From the Mine to the Store: Why Diamond Traceability Matters” at your convenience. You may also view Informa Markets Jewellery’s other exclusive content at its Jewellery & Gem Knowledge Community page.