The Swiss watch industry aims to achieve the highest standards in its gemstone supply chain by gathering traceability information to improve accountability and secure consumer trust, the CIBJO Congress heard.

A presentation by Dominique Dubugnon and Yann Caloz of the Swiss watch federation, Fédération Horlogère, explained why watchmaking treats gemstones as precision components, where the industrial models of watchmaking and gemstones struggle to connect, and what the two sectors can do together to close the gap.

Swiss watches mainly use small, precision-cut melee diamonds, with verified information about their journey from mine to watchmaker, Mr Caloz said.

The characteristics of a Swiss watch define the quality of the gemstones incorporated into it. Swiss watches use only top-grade gems.

“Swiss brands place emphasis on reliability, transparency, accountability and consumer trust,” Mr Caloz said.

“More information about nomenclature and traceability gives confidence in the supply chain,” he added.

“Trust requires product assurance and transparency throughout the entire supply chain.”

Transparency means all participants in the supply chain are more accountable, Mr Caloz said.

Mr Dubugnon said action by the Swiss watch industry to raise standards in its gemstone supply chain was essential to building strong consumer trust.

Imports of diamonds for Swiss watch brands account for 300 million to 500 million Swiss francs per year, according to the Fédération Horlogère.