A New Era of Leadership: Tiffany & Co. Veteran Jeffrey Bennett Takes the Helm at IGI North America
In a strategic move poised to reshape the landscape of gemological services in North America, the International Gemological Institute (IGI) has appointed Jeffrey Bennett, a seasoned executive with over two decades of experience at the iconic luxury brand Tiffany & Co., as the new President of its North American division. This pivotal appointment signals a new chapter for IGI, an institution at the forefront of a rapidly evolving jewelry industry. Bennett’s extensive background in luxury retail, strategic partnerships, and brand development arrives at a time when the gemological world is navigating the burgeoning market of lab-grown diamonds, a heightened consumer focus on sustainability, and the ever-present demand for unwavering accuracy and integrity in gemstone certification.
Based in IGI’s New York City office, Bennett will report directly to Tehmasp Printer, the global CEO of IGI, and will be instrumental in steering the organization’s growth and strategic initiatives across the vital North American market. His predecessor, Tiffany Stevens, who brought a wealth of experience from her time as President and CEO of the Jewelers Vigilance Committee, has passed the torch after her own impactful tenure at the head of IGI’s North American operations.
From the Luster of Tiffany’s to the Science of Gemology: A Look at Jeffrey Bennett’s Illustrious Career
Jeffrey Bennett’s journey to the presidency of IGI North America is paved with a remarkable track record of success at one of the world’s most revered luxury houses. His impressive 22-year tenure at Tiffany & Co., from 2002 to early 2024, culminated in his role as Vice President of Business Development and Strategic Partnerships. In this capacity, he was the driving force behind landmark global agreements with some of the most prestigious names in the sporting world, including the National Football League (NFL), the National Basketball Association (NBA), and Formula 1. These partnerships not only elevated Tiffany’s brand visibility but also demonstrated Bennett’s acumen in forging powerful connections and creating innovative business opportunities.
Prior to his role in business development, Bennett honed his leadership skills as the general manager of Tiffany & Co.’s legendary New York City flagship store. This position placed him at the heart of the luxury retail world, where he was responsible for overseeing the operations of a global icon and ensuring an unparalleled client experience for a discerning international clientele. His deep understanding of the intricacies of the luxury market, coupled with his proven ability to lead high-performing teams, provides him with a unique perspective as he transitions to the gemological sector. This background in a client-first philosophy is expected to be a significant asset to IGI’s operations.
IGI: A Global Authority in a Transforming Industry
Founded in Antwerp, Belgium, in 1975, the International Gemological Institute has grown into a global powerhouse in the world of gemstone certification and education. With a network of laboratories and schools spanning the globe, IGI has established itself as a trusted authority for diamonds, colored stones, and fine jewelry. The institute’s commitment to accuracy, consistency, and transparency has made it a go-to resource for jewelers, manufacturers, and consumers alike.
In a significant development, IGI was acquired by the private equity giant Blackstone Group in 2023, a move that underscored the institute’s immense value and potential for future growth. This acquisition has infused IGI with new resources and strategic expertise, positioning it to further expand its global footprint and enhance its technological capabilities. Following the Blackstone acquisition, IGI went public in India in 2024, achieving a remarkable valuation of $2.4 billion, a testament to its commanding position in the lab-grown diamond grading market.
Navigating the Future: The Rise of Lab-Grown Diamonds and the Imperative of Sustainability
Jeffrey Bennett steps into his new role at a transformative moment for the jewelry industry. The increasing popularity of lab-grown diamonds has created both unprecedented opportunities and complex challenges for gemological laboratories. IGI has been a pioneer in the certification of lab-grown diamonds, recognizing their growing importance and the need for clear and consistent grading standards. The institute has been at the forefront of providing detailed and reliable reports for lab-grown diamonds, ensuring that consumers have the information they need to make informed purchasing decisions.
Furthermore, the modern consumer is more attuned than ever to the ethical and environmental impact of their purchases. Sustainability is no longer a niche concern but a mainstream expectation. IGI has embraced this shift, implementing a range of initiatives to promote responsible sourcing and environmental stewardship within the industry. The institute has made a commitment to carbon neutrality and actively encourages sustainable practices throughout the jewelry supply chain. Bennett’s experience at Tiffany & Co., a brand that has long emphasized its commitment to corporate social responsibility, will undoubtedly inform and strengthen IGI’s sustainability efforts.
A Vision for the Future: Bennett’s Mandate at IGI North America
As President of IGI North America, Jeffrey Bennett is tasked with a clear and ambitious mandate: to build upon the institute’s legacy of excellence and to drive its continued growth and innovation. He will focus on several key areas to achieve this vision.
First and foremost, he will uphold and enhance IGI’s reputation for accuracy and consistency in gemstone grading. In an industry where trust is paramount, the integrity of a grading report is non-negotiable. Bennett’s leadership will be crucial in ensuring that IGI remains the benchmark for quality and reliability.
Secondly, he will spearhead the development of new and innovative services that cater to the evolving needs of the jewelry industry. This includes leveraging technology to enhance the grading process, providing more comprehensive and accessible educational resources, and developing new tools to support jewelers and manufacturers.
Finally, Bennett will focus on strengthening IGI’s relationships with its clients and partners across North America. His expertise in building strategic alliances will be invaluable in fostering a collaborative and supportive ecosystem within the jewelry trade.
A New Chapter of Brilliance
The appointment of Jeffrey Bennett as the new President of IGI North America marks a significant milestone for the organization. His arrival brings a wealth of experience, a deep understanding of the luxury market, and a proven track record of leadership and innovation. As the jewelry industry continues to evolve, Bennett’s strategic vision and client-centric approach are poised to guide IGI to new heights of success. His leadership promises to not only strengthen IGI’s position as a global authority in gemology but also to champion the values of integrity, transparency, and sustainability that are so vital to the future of the industry. The gemological world will be watching with keen interest as this new chapter of brilliance unfolds at IGI North America.
