CIBJO, the World Jewellery Confederation, has announced the public release of its Laboratory-Grown Diamond Guidance, which include a set of operating standards and principles for the laboratory-grown diamond sector that are designed to enhance consumer confidence both in the product and the jewellery industry.
A key principle of the Laboratory-Grown Diamond Guidance is that, to ensure confidence, consumers must receive complete and unambiguous information about what they are buying, so that they can make consciously informed purchasing decisions. This requires clear and accurate information that the laboratory-grown diamonds were created through industrial processes, and not geologically, as is the case with natural diamonds.
Divided into various sections, the guidance document outlines clear principles for describing laboratory-grown diamonds, well as due diligence measures that should be followed by companies handling laboratory-grown diamond merchandise and attending events at which they are displayed, like trade shows. It furthermore recommends the manner in which loose laboratory-grown diamonds or jewellery set with laboratory-grown diamonds should be disclosed on sales invoices and consignment documents. The document also addresses the subject of laboratory-grown diamond detection technology.
A key section of the document relates to the services provided by gem labs to the laboratory-grown diamond sector. It holds to the principle that the confidence of consumers will be served by their receiving an accurate and objective report of the characteristics of the laboratory-grown stone that they are buying, but, since such reports are unrelated to a laboratory-grown diamond’s rarity, care should be taken that the report itself does not infer a similarity between a laboratory-grown diamond and a natural diamond. The guidance recommends, therefore, that the report is referred to as a “Laboratory-Grown Diamond Product Specification,” and not a grading report.
The Laboratory-Grown Diamond Guidance document was developed by a special working group within CIBJO that was established in 2018, which included representatives of both the natural and laboratory grown diamond sectors. At the 2019 CIBJO Congress in Bahrain, the working group was provided the status of a full committee, the Laboratory Grown Diamond Committee, and it is affiliated to the CIBJO Diamond Commission, although it operates independently.
Before being released, the document was subject to both an internal and external review of industry experts. Like CIBJO’s Blue Books, it is considered a living document, meaning that is subject to change according to new information, technologies and market conditions.
“The public release of the Laboratory-Grown Diamond Guidance represents the culmination of three years of very delicate and complicated discussions, involving a great many experts from across the industry,” said CIBJO President Gaetano Cavalieri. “They all deserve our appreciation, but especially the members of the original working committee, headed by Wesley Hunt, and including Thierry Silber, Andrey Zharkov, Daniel Nyfeler and Raluca Anghel. They literally volunteered hundreds of hours of their precious time. Above everything else, they stayed true to the most important key principle, and that is that all that we do needs to serve the confidence of consumers in our products and our industry.”
CIBJO releases Laboratory-Grown Diamond Guidance to enhance consumer confidence in jewellery tradeSteven Benson2021-06-17T12:26:51+00:00
CIBJO, the World Jewellery Confederation, has announced that its Board of Directors has confirmed the membership of the Chow Tai Fook Jewellery Group.
Founded in 1929, the Hong Kong-headquartered group’s portfolio comprises the CHOW TAI FOOK flagship brand, and other individual brand names, including HEARTS ON FIRE, ENZO, SOINLOVE and MONOLOGUE. Its extensive retail network of more than 4,590 stores, covers Greater China, Japan, Korea, Southeast Asia and the United States, and it also operates a fast-growing e-commerce business. The group’s shares have been listed on the Main Board of the Stock Exchange of Hong Kong since December 2011.
“We would like to thank CIBJO President Gaetano Cavalieri and the Board of Directors for welcoming us,” said Kent Wong, Chow Tai Fook’s Managing Director, Corporate and HK, Macau & Overseas, “and we are grateful to be able to work closely with all members for the continuous development of the industry. CIBJO, whose mission it is to promote international cooperation, has embarked on a range of initiatives to elevate and bolster consumer confidence.”
“Being an industry pioneer with over 90 years of heritage, we understand the need to innovate and stay united to make a truly positive difference,” Mr Wong continued. “In order to fulfil these ideals and promises, it is important that we work collaboratively with our industry peers, bringing in innovative insights. Only when we do so can we herald a new era of growth and synergy.”
“Chow Tai Fook’s becoming part of the CIBJO community represents a giant milestone, and will provide our confederation with a considerably broader perspective, not only in what are several of the fastest growing markets in the global jewellery trade, but also in the online environment, which is consuming an ever larger share of sales,” said Dr. Cavalieri. “Just as the group has led the way in Asia and elsewhere, we expect it to take a leading role in CIBJO.”
Asia’s largest jewellery retailer, Chow Tai Fook, joins CIBJO, the World Jewellery Confederation, as new memberSteven Benson2021-06-15T07:35:02+00:00
CIBJO, the World Jewellery Confederation, has announced that its Board of Directors has confirmed as a new member ASSOROLOGI, Associazione Italiana Produttori e Distributori di Orologeria, the Italian watch industry association.
The organization is the second major watch industry national association to have joined CIBJO’s ranks this year, following the Federation of the Swiss Watch Industry FH in March, and according to CIBJO President Gaetano Cavalieri this indicates not only the growing collaboration between the watch and jewellery sectors, but also the need of both to create common benchmarks for standards, nomenclature, responsible sourcing and consumer confidence.
Representing manufacturers and importers of watches and supplies for watchmaking, ASSOROLOGI is the industry’s representative in CONFCOMMERCIO, the Italian General Confederation of Enterprises, Professions and Self-Employment, the country’s largest business association.
“I wish to thank President Gaetano Cavalieri and the Board of Directors for the decision to open the World Jewellery Confederation to the activities of the watch industry, and to welcome us in a spirit of mutual cooperation,” said Mario Peserico, President of ASSOROLOGI. “We are ready to contribute to the important work that CIBJO has been carrying out for many years, supporting and protecting the jewellery, gemstone and precious metal markets worldwide. For many years, ASSOROLOGI concentrated its efforts in Europe, but it is now time to broaden our vision to the world. Within CIBJO we will be able to stand united and strengthened in the international markets.”
“ASSOROLOGI’s becoming a CIBJO member is another important milestone in a process that cements the relationship between the watch and jewellery sectors,” Dr. Cavalieri said. “In so many respects we already operate as one united industry, using similar raw materials, supply chains and outlets to the wholesale and retail markets, as well as interacting with the same consumers. Our interests are aligned, as are our challenges. We welcome ASSOROLOGI into our family.”
Italian watch industry association ASSOROLOGI confirmed as new CIBJO memberSteven Benson2021-06-07T08:34:46+00:00