Lorraine Schwartz, NDC To Offer $1M in Diamond Credit to BIPOC Designers
A total of 50 brands will benefit from the program that aims to provide jewelry designers entry to the fine jewelry world through diamond financing.
Upon reflection, the Natural Diamond Council and designer Lorraine Schwartz have come up with a program they hope will provide equity for minority jewelry designers.
The Emerging Designers Diamond Initiative offers $1 million of diamond credit to BIPOC (Black, Indigenous and people of color) designers.
“Offering eligible designers the access to build relationships with diamantaires directly will help actualize longevity for their business and the whole of the diamond industry,” he said.
“We're committed to the advancement of equity in our industry. Not only is inclusion the right path to forge from a human standpoint, but also for business. More diverse perspectives open the doors to expanded innovation and deeper creativity, which is the driving force of our industry.”
The Emerging Designers Diamond Initiative will allow BIPOC jewelry designers to establish credit in their own names and learn the process of diamond financing, as well as consignment and memo terms.
Designers also will establish relationships with diamond dealers, which is difficult to do without references or a history in the industry.
“It is past time for our industry to be more supportive and share the magic of diamonds with a larger, more diverse group of jewelers,” she said.
“Helping BIPOC designers, and more specifically the underrepresented Black designer community, gain entry to diamond vendors and credit financing as well as expand their businesses is a necessary step in the process towards a more equitable industry.
“This program is another opportunity for me to give back to those communities that have embraced me and have been a wonderful part of my journey as a designer over the last 20 years.”
The program will offer $20,000 of credit to selected jewelry designers, as well as mentorship. It will also act as a guarantor with diamond suppliers.
In addition to Schwartz and NDC CEO Kellie, the selection committee will feature Vanity Fair Fashion Director Nicole Chapoteau, and celebrity stylist and designer Jason Rembert.
Celebrity friends of Schwartz like Pharrell, Kelly Rowland and Tina Knowles will act as honorary advisors, lending their insights during various phases of the initiative.
Kellie added, “Creativity and innovation are the forces that drive our industry forward and in order for that to happen, we need more diverse viewpoints. This initiative is designed to support emerging BIPOC designers by giving them access to the diamond jewelry industry, which has traditionally been limited, and fostering their ingenuity and successes. We know that more diversity is needed in our field, and that this will benefit the designers and the industry as a whole.”
Applications are available now at NaturalDiamonds.com/Eddi.
Credit will be awarded on a first-come, first-served basis, with the selection committee continuing to
review designer applications until the $1 million has been fully allocated.
The Latest
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.