CRJP Recognizes Richemont as ‘Supporter of the Council’

The Council for Responsible Jewellery Practices has recognized Compagnie Financière Richemont SA as a “Supporter of the Council” for its “significant in-kind and financial contribution to the Council’s work promoting responsible practices in the diamond and gold supply chain and to evidencing that commitment through independent third-party monitoring,” said CRJP chief executive officer Michael Rae.

Several Richemont brands, including Cartier, Piaget and Van Cleef & Arpels, are established CRJP members, Rae said. Through its association with CRJP, based in London, Richemont lends its support to those companies, by promoting responsible business practices. Based in Geneva, Richemont is one of the world’s leading luxury goods groups.

By joining the council’s coordinated, international approach to the challenges facing the diamond and gold industries, Richemont companies will work with CRJP’s 71 existing members in creating a worldwide supply chain initiative, due to debut in early 2008. All CRJP members will compare their business practices to the CRJP’s defined standards, articulated in its Responsible Practices Framework. Members also agree to continuous improvement in their business practices, as well as independent, third-party monitoring, to assure consumers that they are complying with the standards. The Council has developed a detailed Code of Practices, which is the foundation for the Responsible Practices Framework.

Richemont has been invited to attend the CRJP’s Annual General Meeting on May 14, at Arundel House in London.