After the RJC failed to cut ties with Russia, Richemont-owned Cartier and other group companies said they had withdrawn from the Responsible Jewelry Council.
The Responsible Jewelry Council is an international association of jewellery and watch companies and their suppliers that aims to promote ethical, socially and environmentally sound and humane business practices. But yesterday, as the Watches and Wonders trade fair got underway in Geneva, Cartier and other Richemont group brands said they were withdrawing from the Responsible Jewellery Council for the simple reason that the industry body has not cut ties with Russia.
“It is not part of our Richemont values to be part of an organisation whose members support conflicts and wars,” explained Cyrille Vigneron, president and CEO of Cartier.
Jewellery maker Pandora also followed suit, saying on Wednesday that it was cutting ties with the RJC.
Russian diamond producer Alrosa‘s membership of the RJC had attracted attention, although the company voluntarily withdrew from the RJC board earlier this month for obvious reasons. Alrosa was added to a list of UK sanctions last week and Washington has targeted both the company and its CEO Sergei Ivanov, who the US Treasury says is one of Russian President Vladimir Putin‘s closest allies.
Richemont, which has suspended operations, including e-commerce, in Russia, also said it had stopped sourcing diamonds from the country since 24 February.
Featured photo : © Cartier