Vertical integration, a major competitive advantage at Tiffany, is entrenched for two reasons: a deeply held belief that great houses of luxury should craft their own designs, and an equally strong conviction that diamond traceability is the best means of ensuring social and environmental responsibility.
Tiffany’s focus on sustainability began about 25 years ago, in the context of growing awareness about the toxic chemicals used in extracting precious metals and about “conflict diamonds” from countries at war. Since then the company has been an industry leader in addressing environmental and human rights concerns. Its stones are laser-inscribed with microscopic codes indicating their provenance so that Tiffany can ensure its chain of diamond custody.
When I consider our competitive advantages at Tiffany, vertical integration stands out for two reasons: a deeply held business belief that great houses of luxury should craft their own designs, and an equally strong conviction that traceability is the best means of ensuring social and environmental responsibility.
