Lorraine Schwartz is a highly recognizable name in the jewelry space. Her opulent designs steal the show at red carpet events, and the CFDA member counts Kim Kardashian, Angelina Jolie, and Beyonce as fans. Now, Schwartz is paving the way for the next generation of jewelry talent.

In collaboration with the Natural Diamond Council, she is launching the Emerging Designers Diamond Initiative, which grants $1 million dollars of diamond credit for BIPOC jewelry designers. The program aims to provide a more equitable future for the fine jewelry industry by providing more opportunities and access to resources.

“It is past time for our industry to be more supportive and share the magic of diamonds with a larger, more diverse group of jewelers,” Schwartz said. “Helping BIPOC designers, and more specifically the underrepresented Black designer community, gain entry to diamond vendors and credit financing as well as expand their businesses is a necessary step in the process towards a more equitable industry. This program is another opportunity for me to give back to those communities that have embraced me and have been a wonderful part of my journey as a designer over the last 20 years.”

The selection committee for the initiative includes Schwartz; NDC CEO David Kellie; Vanity Fair Fashion Director Nicole Chapoteau; and Celebrity Stylist and Designer Jason Rembert. Honorary advisors Pharrell, Kelly Rowland, and Tina Knowles will also lend their expert opinions at various stages of the program.

A veteran in the field, Schwartz knows how difficult it can be to purchase diamonds as an emerging designer with little resources, no history with suppliers, and no industry references. The Emerging Designers Diamond Initiative aims to help BIPOC designers establish credit in their own names and understand the process of diamond financing along with consignment and memo terms. The program will offer mentorship and $20,000 credit to each designer and stand as a guarantor with the diamond suppliers. Once credit and relationships are established, the designers will have access to the NDC and Lorraine Schwartz’s partners along with their wide networks and resources.

Designers will also participate in mentorship and education sessions, new marketing opportunities, and gain supply chain and production know-how and resources. Pricing strategy advice and diamond tutorials will also be provided. NDC will promote the designers and their stories on owned channels, a resource for many in the industry. They will be encouraged to utilize a variety of diamonds including those of differing colors and sizes, in order to celebrate the uniqueness of natural diamonds. Designers who do not presently work with diamonds are encouraged to apply.

Applications can be found here. The initiative will be on a first come, first serve basis, so apply now!