Millennials and Gen Zers Seek Sustainability and Ethical Sourcing in Fine Jewelry
Before 2005, online jewelry didn’t exist. It was a distant dream behind closed doors, evoking curious whispers from white collar execs and bright ideas of what could be. A UK-based fine jeweler, “77 Diamonds,” made an oath to change that, and the brand designed a compelling platform for selling jewelry online. The jeweler led with legend and artistry, appealing to consumers who were in search of “something more” from fine jewels—even though buyers themselves didn’t yet know what more was.
In 2013, eight years after the brand’s initial launch, the opening of the famed “Mayfair” showroom in London brought with it a great deal of recognition and a new era was unveiled. “We were no longer the jewelry industry’s best-kept secret,” said Tobias Kormind, co-founder of 77 Diamonds.
What was it about 77 Diamonds that created such a compelling story? It all came down to honesty—a key attribute that may have been lacking from other luxury brands at the time. The company successfully introduced jewelry online and shared the truth about sourcing in a refreshing new way. All of this, along with ethical transparency and genuine care, led the brand to a rich customer base—one that has only grown stronger with time.
Today, the competition is high for luxury jewelry brands like 77 Diamonds, as younger generations are increasingly shifting their buying habits to focus on companies who take an authentic stance in their marketing or uphold some level of transparency around social and economic issues.
Since the early 2000s, the diamond industry has faced remarkable backlash for conflict diamonds and the environmental impact of mining. As a result, jewelry brands fell under harsh scrutiny. The team at 77 Diamonds believes this societal pressure to be positive. Why? Because it encourages a swift new outlook from suppliers. “We embrace the fact that our customers value the provenance of their jewelry,” Kormind said. “As a company, it’s our responsibility to be a force for change, and, in turn, help and support the industry to change along with us.”
To appeal to the environmentally-conscious millennials and Gen Zers, luxury jewelry brands are moving towards sustainability even more and acting on issues they care about. The goal is to show younger buyers a genuine side that hasn’t always been prevalent in the pretentious air of high-end goods. It involves a level of transparency that isn’t flashy, but rather felt.
Research suggests that captivating a customer’s emotions is imperative to win in online luxury jewelry, especially when appealing to this younger crowd. The high-end experience is not about excess and abundance; it entices with an effortless portrayal of a fine lifestyle and requires weaving together genuine storytelling from start to finish. It’s truly an art. This is evident in the “quiet luxury” trend that has captivated the masses in recent years, where logos are less obvious, so a sense of opulence is derived from the customer’s imagination using a minimal aesthetic. Put simply, it’s less about material and more about value.
“Conscious consumerism” takes this a step further. It encourages shoppers to think about the life cycle of a product and consider any consequences of the purchase. This is quite popular among the younger generations right now, as the uncertainty around the origins of diamonds and gemstones continues to stir questions. Naturally, shoppers are becoming more aware of this, so they are focusing less on physical imperfections of the jewelry itself and more on ethical buying practices.
77 Diamonds believes jewelry selection is a deeply personal experience that requires extensive research and commitment before making the final decision, so they put a lot of value into jewelry education, which highlights size guides, metal advice and ring styles prior to purchasing. (All of these resources are filed on their website under the “Education” tab.)
One of the brand’s strongest values is centered around engagements. The name “77 Diamonds” alludes to the year 1477—the year of the first recorded diamond ring proposal in history, when a romance sparked between Archduke Maximilian of Austria and Mary of Burgundy. Sometime after their marriage, Mary had a tragic death. She was only 25 years old. The Archduke was devastated, but his love for her lived on. The story demonstrates the undeniable draw of devotion, but it also brings emotional depth to the 77 Diamonds legacy, paving a way for an even richer narrative to unfold.
Today, the story lives on, and the brand brings unforgettable engagement moments to life between couples. Their aim is to create an intimate shopping experience. To do so, they place attention on customized designs, bespoke services, virtual consultations and a true lifetime warranty. “We love being part of our customers’ most special moments,” Kormind said. “We take our role as their chosen jeweler incredibly seriously.”
“We know that it can take confidence to commit to a bespoke piece, but we guide and support our customers every step of the way,” – Tobias Kormind, Managing Director, 77 Diamonds
Kormind noted that there’s been a shift to collaboration between couples when it comes to choosing the special ring. Typically, that requires a stand-in ring at the actual proposal. “We recognize it’s a significant financial commitment and our couples are taking time post-proposal to choose something meaningful together,” he continued.
The brand has also recognized an increase in colored gemstones and lab-grown diamonds as a cost-efficient alternative to natural diamonds. These options propose a touch of the unexpected as trends transition to artisanal designs in recent years. Although natural diamonds continue to be chosen and have vast appeal, younger generations are recognizing them as a thing of the past. They are viewed as less sustainable, not to mention, mass-produced or even lacking in originality. Colored gemstones are undeniably more obscure and appreciated for their aesthetic, value and uniqueness.
Bespoke purchases have been another popular selection for engaged couples. Instead of customizing a preselected ring, the couple chooses to design it from scratch and have a truly unique style. This could even include pieces from their past. Inclusions like birthstones or hidden gems are popular in this demographic and could enhance the connection to the ring. “We know that it can take confidence to commit to a bespoke piece, but we guide and support our customers every step of the way,” Kormind said. “And the end result is always something incredibly special.”
As jewelry continues to thrive online and brands lean into the benefits of virtual reality and artificial intelligence, specially designed jewelry will increase in value as shoppers crave the intimacy of human connection. “Bespoke creations will be even more valued to really create that unique piece that tells a personal story,” Kormind said.
Although there is reluctance towards more technology, jewelry brands have recognized that AI has plenty of notable benefits. Kormind expressed that it’s a great way to optimize supply chain management, track materials and predict potential risks. Not to mention, he noted that blockchain technology can provide transparency and traceability in the sourcing process.
“The industry as a whole is likely to see more companies adopting ethical sourcing standards, such as the Responsible Jewellery Council’s Code of Practices, to ensure delivery of responsible business practices and promote sustainability across the market,” Kormind said. He added this includes tracking the journey of diamonds and gemstones, which is crucial to promoting transparency and accountability.
The jewelry industry has come a long way since the early 2000s. The world wide web was just beginning, leaving room for eager brands to swoop in and infiltrate a fresh new market. Trailblazers like 77 Diamonds paved the way for a new era of jewelry online where ethical standards and quality were high. Today, as customers continue to want more from their fine jewelry, brands are learning a lot about this younger generation of shoppers. Perhaps the “something more” these young buyers seek implies more about the sentiments they hold about the origin of their jewels, and less about the look of the jewel itself. Either way, the draw of the diamond never fades.
77diamonds.com