Kay Jewelers To Test Gems After Scandal

(RTTNews) - Jewelry company Signet Jewelers Ltd., has announced that it will test a new technology at some of its Kay Jewelers outlets to confirm the authenticity of diamonds.

Signet Jewelers, which owns the Kay, Zales and Jared jewelry chains, announced this decision in order to regain the trust of its customers after allegations arose that the company swapped diamonds for low-quality stones when customers brought it in for service.

"Every customer's diamond is like a thumbprint, they have all unique marks to it," said Signet Chief Executive Mark Light during earnings call. "And we will mark those on a digital screen and then we'll have the ability to digitally send over that picture to our customers via email and keep it in our own files."

"So we believe by putting this type of new technology in place in our stores that we are enhancing and creating even more transparency for our customers and it will be a huge competitive advantage for us into the future," Light said.