Cartier and other Richemont group brands, such as Montblanc, Ralph Lauren or Chloé, withdrew from the Responsible Jewelery Council (RJC) after the industry body failed to cut ties with Russia, group executives told reporters at the fair. of the watch industry Watches and Wonders.
“It is not part of Richemont’s values to be part of an organization in which some members support conflicts and wars,” said Cyrille Vigneron, president and CEO of Cartier, at the media meeting.
Jewelry maker Pandora also said Wednesday it was cutting ties with the RJC, which sets ethical standards for the jewelry and watch industry.
The Russian state-owned company Alrosa’s membership in the RJC has sparked great interest, despite the fact that it voluntarily withdrew from the RJC board earlier this month.
The Russian diamond producer – the world’s largest – was placed on a UK sanctions list last week and the United States has targeted both the company and its CEO, Sergei Ivanov, who, according to the US Treasury, is one of President Vladimir Putin’s closest allies.
In an emailed statement, RJC President David A. Bouffard said a third-party legal evaluation of Alrosa’s membership status, begun at the start of the war, will be concluded “imminently,” noting that the organization “recognizes that the pace of this process can be frustrating.”
“We’re not trying to make a statement per se, we’re trying to uphold the very high standards that we’ve been setting over the last 15 years. If the RJC can’t uphold the highest standards, then we can’t be a part of it. That’s why we’re pulling out,” said Richemont’s chief financial officer, Burkhart Grund.
He also added that the luxury group will study how to certify its labels to reassure consumers.
Richemont, which has suspended its activities in Russia, including e-commerce, also said it has stopped sourcing diamonds from the country since February 24.
