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Tag Archives: Fine Jewelry

Marketing Tidbit: Do Fine Jewelry Customers Care about Sustainability? Prada Thinks So

19 Thursday Jan 2023

Posted by grewallevymarketingnews in Chapter 04: Conscious Marketing, Corporate Social Responsibility, and Ethics, Chapter 16: Supply Chain Management

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Fine Jewelry, Prada, sustainability

Sustainable fashion is all the rage, and now fine jewelry may be getting in on the trend. Prada—the ultra-fancy, trend-setting Italian luxury clothing brand—has just launched a brand new jewelry line, featuring 48 pieces made entirely of recycled gold and ethically sourced pavé diamonds. Prada spent three years sourcing materials to meet its environmental and ethical standards before the launch. Some of the gold comes from discarded electronics, some from old jewelry. The diamonds are mined, which doesn’t sound very green, but Prada says they meet the Responsible Jewelry Council’s Chain of Custody environmental and humanitarian Code of Practices. Prada also says that its suppliers have been subjected to audits by the company itself, as well as by third-party inspectors from the Responsible Jewelry Council. What’s behind Prada’s venture into jewelry that doesn’t just look pretty, but is also better for the Earth? This choice to go green appears spurred in part by consumer demand—and in part by a mission to lead the way in the jewelry industry. Whether others will follow suit is an open question. The success of this collection is not. According to Timothy Iwata, Prada’s jewelry director, portions of the collection have sold out, and “we can’t keep up with the demand for the moment.”

Sources: Laura Rysman, “Prada Focuses on Sustainability in ‘Disruptive’ Fine Jewelry Debut,” The New York Times, November 21, 2022

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