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Supply Chain Transparency Is ‘Our Duty,’ Tiffany CEO Says

January 11, 2019 / SupplyChainBrain

Tiffany & Co. is telling consumers where its diamonds come from as the jeweler tries to become more transparent in a notoriously opaque industry. Its top executive says the change was imperative.
“This is a topic that has become more and more relevant for new generations,” Chief Executive Officer Alessandro Bogliolo said in an interview with Bloomberg TV. “This is our duty, as a leader in diamonds, to provide customers with this information.” Tiffany is undergoing a revitalization effort under Bogliolo, seeking out younger shoppers with a refreshed image. It has enlisted celebrities like Zoe Kravitz, Elle Fanning and Maddie Ziegler and is undertaking a massive renovation of its New York flagship store. The comeback hit a snag last quarter, however, as tourist spending waned, even as Tiffany made inroads with the younger crowd. Bogliolo said that revealing the provenance of Tiffany diamonds isn’t a marketing gimmick, but a real effort to attract more customers who value transparency. He said while Tiffany was for years seen as a more conservative label, management has recently taken major strides to appeal to a broader clientele.