The Goldsmiths Signature Diamond introduces a fifth ‘C’, Conscience, alongside the traditional Four Cs. How do you anticipate this redefinition influencing consumer behaviour and expectations in the luxury jewellery market?
With Goldsmiths showrooms present in the UK, creating transparency and assurance in our products and sourcing is really important to us and sets us apart as a luxury brand and retailer.
More Goldsmiths clients are now taking an interest in the creation and origin of our product and pose the question ‘Where is my diamond is coming from?’. Our Goldsmiths Signature Diamond allows us to create rich and meaningful conversations with our clients about the origin of their diamond, adding additional value and reassurance to their diamond purchase.
Traceability and ethical sourcing are central to this launch. Could you walk us through the collaboration with Tracr and how the verification process works in practice from mine to showroom?
We opted to use Tracr as our traceability solution as we wanted to embark this journey using a platform that applies the strictest requirements. Tracr is a leading digital platform dedicated solely to natural diamonds, tracing them from source at scale.
Every diamond on Tracr is individually scanned and registered on the platform at the source. As the diamond progresses from its rough stage to its polished stage, its key characteristics are continuously uploaded to the platform, creating an immutable digital record using blockchain technology.
The diamond is sent to the GIA laboratory for grading, where another important validation step is performed on key parameters of the polished diamond. A polished diamond in our collection becomes visible on search.tracr.com only once it has been fully inscribed, giving consumers confidence in their diamonds journey, from mine to showroom.
You’ve highlighted that each diamond makes a tangible contribution to local communities. Can you share specific examples or measurable impacts seen in the sourcing countries as a result of this initiative?
The diamonds in the Goldsmiths Signature Diamond collection make real, measurable contributions to local communities. For example, in Botswana, one mining site funded the construction of five new houses in Lefhoko, as part of a project known as ‘Diamond Village’.
These homes accommodate government employees such as police officers and nurses, helping to ensure the continued delivery of vital public services. The project also engaged local contractors, creating jobs, boosting livelihoods, and supporting the regional economy.
In Namibia, revenues from diamonds have enabled the sponsorship of three Toyota Hilux vehicles for Save the Rhino Trust, which plays a critical role in anti-poaching efforts. These vehicles are used for patrolling and monitoring key conservation areas, as well as for conducting joint operations with law enforcement. These are just two examples of the incredible work across Botswana, Namibia, South Africa, and Canada – where diamond revenues are helping to strengthen communities, protect wildlife, and build lasting opportunities for local people.
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