RAPAPORT... Tiffany & Co. has launched a new engagement-ringcollection that debuts a new cut and setting."Tiffany has symbolized the ultimate in love and commitmentsince 1886 with the invention of the original Tiffany Setting," chiefartistic director Reed Krakoff said earlier this week. "Now, with the launch of Tiffany True with itsunique setting and expert cut, we are introducing a supreme expression ofmodern love."At the center of the Tiffany True line is a simple gold banddiscreetly inscribed with a T. The four prongs encasing the diamond create abasket that allows the piece to sit lower on the finger than other engagementrings do.The new diamond cut, meanwhile, exposesmore surface area on the stone's main facet, heightening light dispersion andcontrast.Tiffany is selling the new line in a platinum setting with a white diamond, or in 18-karat yellow gold with a yellow diamond. The collection also comprises a line of rings and braceletsdesigned with interlocking Ts that form squares. The launch is part of Tiffany'songoing effort to revamp its image and appeal to younger consumers, which alsoincludes new campaigns featuring popular young stars.Image: The new Tiffany True engagement-ring designs. (TIffany & Co.)