JVC Releases Diamond Supply Chain Protection Kit
Monday, November 11, 2019
By the JVC Team
The specter of undisclosed laboratory-grown diamonds in the diamond supply chain has long been discussed in the jewelry industry. For many years, those at the end of the supply chain (such as retailers) have felt like they didn’t have the tools or resources to speak with their suppliers and ask for assurances that the products they were purchasing were actually what the suppliers held them out to be. Based on some of these conversations with retailers, Jewelers Vigilance Committee (JVC) has been hard at work creating a new product that would help retailers protect their natural and laboratory-grown diamond supply chains.
JVC’s new Diamond Supply Chain Protection Kit, generously sponsored by SGL Labs and the 2019 JCK Industry Fund, provides clarity to retailers about natural and laboratory-grown diamonds. In the kit are: a handout that breaks down the exact wording you can and can’t use when advertising natural and laboratory-grown diamond advertising in print and online, and two Supplier Code of Conduct and Disclosure Agreement templates—one for companies that use natural diamonds only and another for companies that use natural and laboratory-grown diamonds. Retailers can use these agreements as a tool during negotiations with new vendors or can personalize them to use with existing suppliers to ensure they secure solid assurances that the goods accepted into the supply chain are as represented.
JVC intends that retailers use the handout to educate sales and marketing staff and help them understand the complex guidance regarding natural and laboratory-grown diamond marketing in the Federal Trade Commission Jewelry Guides. Retailers can use the templates to begin the conversation with their suppliers about the frequency of testing, the machinery suppliers are using to test, and what assurances they can expect to receive.
The Diamond Supply Chain Protection Kit is FREE to all. Anyone can download this industry resource at: https://jvclegal.org/protecting-your-jewelry-supply-chain/.