Tiffany has temporarily closed stores in Russia and will provide affected employees with essential financial and operational assistance during this time. We will continue to closely monitor the crisis unfolding in Ukraine and will comply with applicable sanctions and legal restrictions concerning Russia.
“We aim to achieve 100% traceability of individually registered diamonds to mine of origin, or suppliers’ approved mines, by 2025.”
Our Social and Environmental Accountability Program
Before these suppliers are accepted into the Tiffany & Co. supply chain, they are expected to complete a self-assessment questionnaire and undergo a pre-sourcing audit as one of the many steps in our due diligence process. Suppliers are required to address any corrective actions and, if needed, undergo another audit before they are approved.
Through the SEA Program’s regular risk assessment cycle, each supplier completes a self-assessment questionnaire that is aligned to our Supplier Code of Conduct. Each supplier is evaluated using a third-party risk calculator to establish the supplier’s risk rating based on a variety of factors: external indices of political, material and country-specific risk factors, and an evaluation of supplier-specific factors such as prior audit scores and participation in capability-building activities. We use these risk ratings to determine how often we audit suppliers. We also audit all of our Tiffany jewelry manufacturing and diamond polishing facilities to ensure they are meeting the same rigorous standards that we are asking of external suppliers.
“Our Jewelry Design and Innovation Workshop provides nearly 17,000 square feet of open space and state-of-the-art technology for our expert designers, jewelers and engineers to collaborate.”
Learn More About Our Sustainability Efforts
Our Sustainability Pillars
Tiffany & Co. is fully compliant with President Biden’s executive order on the sourcing of non-industrial diamonds of Russian origin. As of March 21, 2022, Tiffany has paused the sourcing of all rough diamonds from Russia, as well as serialized diamonds of Russian origin regardless of where they are cut and polished.
For melee diamonds, Tiffany has taken the extra step of instructing our suppliers to stop buying Russian rough stones on our behalf and to separate Russian and non-Russian melee moving forward.
While approximately 30% of the world’s diamonds originate from Russia, at Tiffany, our transparent chain of custody process with our newly sourced, individually registered diamonds offers the client the opportunity to choose the country or region from which their engagement diamond originates—a first among global luxury jewelers.
Tiffany & Co. is the first global luxury jeweler to offer diamond traceability by sharing the full craftsmanship journey of its newly sourced, individually registered diamonds, which includes disclosing the countries or regions where these diamonds are crafted and set.