TIFFANY & CO.: a Diamond in the Industry

Surely Tiffany's is one of the biggest names in the jewelry business. This high profile jeweler boasts a rich history of extraordinary jewels sold to an extraordinary list of clientele. In order to maintain this clear-cut image, Tiffany's has had to recently spend a lot of time and money insuring their future. In the late 90's, world-wide concern about conflict diamonds and the destruction they reap (including funding armed conflicts in places like Angola and Sierra Leone) put deserved pressure on diamond companies. While Tiffany's never knowingly sold these conflict diamonds, they were now thrown into the hot seat of the debate, and they needed to show their commitment to ethical business practices. Tiffany & Co. has been working to be conflict free ever since. They helped set up a system followed by both trading countries and jewelers to make sure that the legitimacy of the diamond industry was protected. In April, Global Witness applauded Tiffany's for having the best policy against illegally mined diamonds. Tiffany's is now relying more on diamond mines in Canada, a recent and untapped source of high quality stones, to help keep their business safe. While contracting with Canada will cost Tiffany's more in mining wages, the price is worth it to consumers who don't want to feel like their most precious stones come at the cost of blood.