LGD must be fully and clearly disclosed: IDMA

International Diamond Manufacturers Association (IDMA) said, for the first time in 22 years and after a six-year consultation and editing process, last week, the Federal Trade Commission (FTC) published its revised FTC Jewelry Guidelines. This is important for our international colleagues to understand, most USA industry organizations submitted their comments during this long review period.

 

The Jewelers Vigilance Committee (JVC), the Diamond Manufacturers & Importers Association of America (DMA); the Diamond Dealers Club of New York (DDC) and the Indian Diamond & Color Stone Association (IDCA) sent in their final comments together.

 

“Fact is that the changes to the Guidelines for Diamonds aren't very different from what they were and I certainly don't believe we have much at all to be concerned about. While the revisions are final, we will continue to communicate and engage with the FTC.

 

When referencing or talking about a diamond, it better be one born from mother-nature and nowhere else! When you are discussing laboratory-grown, created etc...the "descriptors or qualification must be clear, prominent and understandable" said Ronnie VanderLinden, President-IDMA. This is all explained clearly by the JVC team within the document.

 

To be clear, the FTC's principal mission is the promotion of consumer protection and the elimination and prevention of anti-competitive business practices.  With that said, not only do they engage with our industry during the review period but with the consumer as well. Fact is that the consumer opinion carries the bulk of the weight when it comes to making the final revisions.

 

Fact is also that to the consumer, a diamond is still a natural diamond and a lab-grown diamond (LGD) must be fully and clearly disclosed.

•