iTraceiT, an Antwerp-based leading provider of diamond traceability solutions, is pleased to announce that it has witnessed growing success at all stages of the diamond pipeline. The company’s innovative technology allows customers to track the movement of diamonds from mine to retailer, ensuring transparency and accountability throughout the supply chain.
“We are thrilled to see such a positive response from partners at all stages of the diamond pipeline,” said iTraceiT CEO Frederik Degryse. “Our customers are seeing the benefits of our technology firsthand, and it encourages our whole team to hear the success stories of these partnerships.”
Customers of iTraceiT have also expressed their satisfaction with the technology. “iTraceiT’s goal of supporting an ethical and transparent supply chain for all diamonds, is a perfect fit with the way we do business,” said Jackie Morsel, Vice President at Dali Diamond, an established DTC Sightholder which has recently secured additional De Beers supply in Botswana and South Africa. “The ability to trace diamonds from mine to retailer gives our customers increased confidence in the authenticity of our product and helps build stronger relationships with them.
Stephan Wolzok, President of Paris-based luxury supplier Rubel et Ménasché, also commented on the value of iTraceiT’s technology. “Our retail customers have some of the strictest traceability requirements in the industry. We are pleased to see that iTraceiT offers us the opportunity to demonstrate our transparent supply chain and provide the required datapoints and supporting documentation to our customers in a secure, easy and automated way.”
Derek Palmer, Global Marketing Director at Pluczenik, a DTC Sightholder, also praised the solution. “We have always been committed to providing ethically-sourced diamonds to our customers and iTraceiT has made it easy for us to show that the diamonds we sell are conflict-free and obtained in a responsible manner. We are happy to work with an independently owned technology that offers a solution for all diamonds, regardless of size and quality.”
Since the launch of their traceability solution in May 2023, iTraceiT’s technology is becoming increasingly important as consumers place greater emphasis on the value of known origin and an ethical supply chain. A trend echoed by Philippe Barsamian, Founder of Antwerp-based Barsamian diamonds and President of the Federation of Belgian Diamond Bourses, “Our customers’ feedback is unanimous. The consumer of today wants to know all about the social, ethical and environmental claims of the product they buy. The ability to make those positive claims starts with a clear and transparent understanding of the journey that each product went through, so we are happy that iTraceiT has given us a platform to demonstrate the journey of our diamonds.”
iTraceiT plans to continue expanding its services and furthering its mission of building a more sustainable and responsible diamond industry. One of the new services the company is piloting with several jewelry manufacturing and brand partners in 2023, is the creation of a jewelry traceability report. Darshit Shah, Director of Arhaan Diam, a supplier of both calibrated loose and certified diamonds comments: “Our company is happy to contribute to the development of iTraceiT’s jewelry report. In addition to offering our customers a clear traceability report on the loose diamonds that we sell, I feel that our retail customers will benefit greatly from having the traceability information for all components that go into a jewelry piece combined in one report”.
“Continuing traceability of loose diamonds into jewelry pieces is a logical next step” agrees Eyal Atzmon, Founder and CEO of EL-RAN Diamonds, “Our firm highly appreciates the blockchain integration iTraceiT provides, enabling us to give our customers access to direct transparency and supply chain integrity. We are proud to have had the opportunity to collaborate and further develop with iTraceiT a unique method to track melee and smaller sized stones from rough diamond origin till polished diamond delivery in a unified and secure platform.”
