Brilliant Earth expands leadership in blockchain diamonds through participation with Tracr
Global leader in ethically sourced fine jewelery continues product expansion by doubling down on transparency
SAN FRANCISCO, June 05, 2023 (GLOBE NEWSWIRE) — Brilliant Earth Group, Inc. (“Brilliant Earth” or the “Company”) (Nasdaq: BRLT ), an innovative, digital-first jewelry company and global leader in ethically sourced fine jewelry, announced today a new collaboration with Tracr, the world’s leading digital platform for tracking natural diamonds from their source. The partnership will further unlock Brilliant Earth’s blockchain-enabled natural diamond offering, meeting the company’s ESG targets six months ahead of schedule.
“At Brilliant Earth, we continue to create solutions and pursue partnerships that support our mission,” said Beth Gerstein, CEO and co-founder of Brilliant Earth. “Working with Tracr will allow us to drive an increased variety of blockchain-enabled natural diamonds into the market, while moving closer to our ESG goals and providing our customers with increased traceability in the lifecycle of their diamond.”
As a digitally native company, Brilliant Earth has been a leader in using emerging technology to achieve industry-leading standards of sustainability and transparency. Tracr’s technology further supports Brilliant Earth and customers’ expectations for transparency by using artificial intelligence (AI) and machine learning to identify a diamond’s provenance and analyze its unique characteristics.
Wes Tucker, Tracr’s CEO, said: “We are delighted to have Brilliant Earth join Tracr and look forward to helping them use our platform to continue their mission to cultivate a more transparent, sustainable, compassionate and inclusive jewelry industry As both of our organizations share a common focus on using technology to tell the story of natural diamonds, I am excited to see what we will be able to accomplish together toward this common goal.”
The technological advancements that come with the Tracr partnership will support Brilliant Earth’s mission and further enhance the customer experience. Further information on the company’s pillars of openness, sustainability, compassion and inclusion can be found in their 2022 mission report at https://investors.brilliantearth.com/mission-reports.
Victoria Del Rico
Communications Director, Brilliant Earth
About Brilliant Earth
Brilliant Earth is a digitally native, omnichannel jewelry company and a global leader in ethically sourced fine jewelry. Led by co-founders Beth Gerstein and Eric Grossberg, the company’s mission since its founding in 2005 has been to create a more transparent, sustainable and compassionate jewelry industry. Headquartered in San Francisco, CA and Denver, CO, Brilliant Earth now has 31 showrooms and service clients in over 50 countries worldwide.
Tracr is the world’s first fully distributed diamond traceability platform that starts at source and operates at scale, providing the opportunity to explore the provenance, authenticity and unique journey a natural diamond has taken along the diamond value chain. To date, Tracr has recorded more than 1 million rough diamonds at source and 110,000 producer level diamonds securely on their dedicated Tracr instances.