Cartier and other Richemont labels leave Responsible Jewellery Council

The symbol of luxury goods group Richemont’s flagship manufacturer Cartier is seen at a department in Zurich, Switzerland, January 12, 2017. REUTERS/Arnd Wiegmann/

GENEVA, March 30 (Reuters) – Cartier and other labels of the Richemont (CFR.S) group have stepped down from the Liable Jewellery Council (RJC) immediately after the sector human body failed to cut ties with Russia, executives from the group told reporters at the Watches and Miracles watchmakers business fair on Wednesday.

“It is not aspect of our Richemont values to be portion of an business in which some associates are supporting conflicts and wars,” mentioned Cyrille Vigneron, president and main executive officer of Cartier.

Jewellery maker Pandora PNDORA.CO also reported on Wednesday it was reducing ties with the RJC, which sets moral benchmarks for the jewellery and enjoy marketplace.

The membership of Russia’s condition-owned Alrosa (ALRS.MM) in the RJC has drawn scrutiny, even nevertheless the firm stepped down voluntarily from the RJC’s board earlier this month.

The Russian diamond producer — the world’s biggest — was added to a British isles sanctions listing very last 7 days and Washington has targeted both equally the organization and its CEO Sergei Ivanov, who, the U.S. Treasury explained, is reportedly a single of Russian President Vladimir Putin’s closest allies.

In an emailed assertion to Reuters Wednesday, RJC chair David A. Bouffard, reported a 3rd-get together authorized assessment of Alrosa’s membership standing, kicked off at the get started of the war, would be concluded “imminently”, noting the firm “appreciates that the speed of this process may be disheartening.”

“We’re not attempting to make a assertion for every se, we are seeking to uphold the very superior requirements we have been shaping over final 15 a long time. If RJC are not able to uphold maximum of criteria, then we can not be portion of that. Which is why we stepped down,” Richemont main fiscal officer Burkhart Grund claimed of the luxurious group’s choice to leave the RJC.

Grund added that the luxury group would appear into how to certify its labels in purchase to reassure people.

Richemont, which has suspended actions like e-commerce in Russia, also mentioned it has stopped sourcing diamonds from the country considering that Feb. 24.

Reporting by Silke Koltrowitz and Mimosa Spencer, producing by Mimosa Spencer, Editing by Louise Heavens, William Maclean

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