UPDATE: CBG LAB GROWN DIAMOND POLICIES
Dear CBG Retailer Family,
We have received excellent feedback regarding our round table in Atlanta, especially the segment hosted by Tiffany Stevens of JVC and Debbie Azar of GSI regarding the growing concerns in the industry regarding undisclosed Lab-Grown Diamonds being found in jewelry that should only contain natural mined diamonds. The below email was sent to our suppliers from the CBG office so that they will all be aware of CBG policy and should expect requests for sealing from some of our retailers, especially if Lab-grown has been found in their product during the screening process.
If you have any questions, please contact the office.
Attention CBG Authorized Suppliers,
This is a MUST READ
Following our day of education, Continental Buying Group hosted a day of education for our retailers.
We brought in Tiffany Stevens from Jewelers Vigilance Committee and Debbie Azar from GSI to discuss the responsibility of retailers and suppliers regarding finding undisclosed Lab Grown Diamonds in jewelry items that are stated to be 100% natural mined diamonds.
This issue is a growing concern for our retailers. As you know our retailers have begun screening all jewelry prior to displaying it in their cases. One retailer brought GSI into his store to test his entire store and was shocked to learn that many of his suppliers had shipped items that contained Lab-Grown melee.
As a result of these concerns and findings, please be aware that more and more retailers will be requiring that their orders be sealed prior to shipping. GSI is the only authorized CBG vendor for testing and sealing and Debbie has agreed to extend the same pricing she offers to Signet and other big-box chain stores. Some suppliers have taken the initiative to offer this service to CBG retailers in order to provide their retailers peace of mind when accepting merchandise into their stores.
Continental Buying Group has set forth its own policy regarding undisclosed synthetics in naturally mined jewelry and will continue to have GSI conducting random testing of our suppliers at every CBG show. We have given our suppliers over two years to institute a testing protocol prior to shipping to CBG retailers.
We will be enforcing the fines stated on the binding 2020 compliance agreement as stated below that every CBG supplier has signed and acknowledged the penalty.
If you would like additional information on the testing and certification services GSI provides, please contact Debbie Azar at GSI 212-207-4140
Andie, Joe, and Estelle
IDENTIFICATION OF LABORATORY GROWN AND MANUFACTURED OR ARTIFICIALLY PRODUCED PRODUCTS
Any diamonds or gemstones not naturally grown within the earth, even where such item has essentially the same properties as a natural stone, shall be clearly identified on the invoice or memo by using one of the following terms immediately following any use of the word "diamond", "ruby" "sapphire", "emerald", "topaz" or other natural gemstone name:
Such term shall be used so as to clearly disclose that the item is not a natural diamond or gemstone. The word "faux" shall not be used. No manufactured or artificially produced diamond or gemstone, including, without limitation, any laboratory-grown diamond or gemstone, shall be referred to as "real", "genuine", "natural", "precious", or "semi-precious." It is the responsibility of the vendor-supplier to determine whether any merchandise sold to Members is synthetic, laboratory-grown, treated or otherwise subject to any disclosure requirements under this Agreement.
YOU WILL BE LIABLE FOR LIQUIDATED DAMAGES OF $2,000.00 (PER ITEM) EACH TIME A NON-DIAMOND STONE OR LAB-GROWN DIAMOND IS FOUND IN A NATURAL DIAMOND PRODUCT. THIS INCLUDES LAB-GROWN DIAMONDS (HPHT AND/OR CVD), CZ, MOISSANITE, GLASS, WHITE SAPPHIRE AND OTHER NON-DIAMOND MATERIALS INVOICED AFTER NOVEMBER 1, 2017. IF A NATURAL DIAMOND PRODUCT IS FOUND TO CONTAIN A NON-DISCLOSED LAB-GROWN DIAMOND OR NON-DIAMOND STONE, ALL OF YOUR DIAMOND PRODUCTS INVOICED AFTER NOVEMBER 1, 2017 SHALL BE SUBJECT TO RECALL, AND AT THE AFFECTED MEMBER'S OPTION, MAY BE RETURNED TO YOU FOR FULL CREDIT. SUCH RETURNS WOULD BE CONSIDERED DEFECTIVE PRODUCT RETURNS AND WOULD NOT BE APPLIED TO ANY OTHER RETURN PRIVILEGES OR LIMITS. IF AN ITEM IS FOUND CONTAINING LAB-GROWN DIAMONDS (HPHT AND/OR CVD), CZ, MOISSANITE, GLASS, WHITE SAPPHIRE AND OR OTHER NON-DIAMOND STONE THAT WAS INVOICED PRIOR TO NOVEMBER 1, 2017 MAY BE RETURNED FOR FULL CREDIT OR EXCHANGE.
Click the button below to download the 2020 agreement.