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Article: Lazare Kaplan International

Lazare Kaplan International

Business Activities and Operations

  • LKI's main business activity is cutting and polishing ideal-cut and fine make diamonds.
  • It sells its diamonds to upscale retail jewelers worldwide.
  • LKI distributes its products through over 1,500 retail partners and customers in 29 countries.
  • The company has sales offices in Belgium, Japan, China, and Hong Kong.
  • LKI has manufacturing operations in various locations, including Puerto Rico, Moscow, Barnaul, China, Thailand, Botswana, and Namibia.

Company History and Achievements

  • LKI was founded in 1903 by Mr. Lazare Kaplan.
  • The Tempelsman Group acquired a controlling interest in LKI in 1984.
  • LKI has been publicly listed since 1972 and is the only diamond manufacturing company publicly listed on a US stock exchange.
  • It has been a Diamond Trading Company (DTC) Sightholder since 1946.
  • LKI was the first company to launch a branded diamond called the 'Lazare Diamond.'
  • In 1919, Marcel Tolkowsky published the mathematical formula for diamonds cut to ideal proportions.
  • LKI became the first commercial-scale operation to cut diamonds to ideal proportions.
  • LKI developed the modern oval cut in 1957.
  • In 1983, LKI developed and patented the laser inscription process for diamonds.
  • LKI was awarded a patent in 2002, jointly with General Electric, for the HPHT process to improve diamond color.

Missing Diamonds and Litigation

  • Lazare Kaplan sued insurers for $640 million in damages due to the disappearance of diamonds.
  • In 2011, Lazare filed a $1.5 billion RICO complaint against KBC Bank.
  • Litigation between Lazare and KBC Bank is ongoing in Belgium.
  • LKI has been suspended from trading on the American Stock Exchange since September 2009.
  • LKI has not filed quarterly or annual reports with the US Securities and Exchange Commission since early 2009.

Ethical Standards and Industry Involvement

  • LKI supports policies that prohibit the trade in conflict diamonds.
  • It also works to prevent money laundering, combat terrorism financing, and promote transparency and fair dealing in the diamond industry.
  • LKI actively participated in the Kimberley Process Certification Scheme to combat the trade in conflict diamonds.
  • LKI follows the World Diamond Council Industry Self-Regulation system, which includes buyer-seller warranties and audits.
  • The company has a zero tolerance policy for conflict diamonds and requires ethical diamond trading conduct from its rough diamond buyers.

Corporate Citizenship and Sustainability

  • LKI implements core values in the areas of human rights, development, labor standards, and environmental sustainability.
  • The company supports social accountability.
  • LKI is a member of various diamond and jewelry industry associations.
  • It subscribes to the Best Practice Principles Assurance Program, demonstrating ethical and sustainable practices.
  • LKI promotes a neutral and encyclopedic approach to content and communication.

Lazare Kaplan International Data Sources

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