HomeBusinessPandora and Cartier quit jewellers' trade body over Russia failings

Pandora and Cartier quit jewellers’ trade body over Russia failings

Pandora and Cartier quit jewellers’ trade body over its failure to ensure members cut ties with Russia

Trendsetter: Actress Millie Bobby Brown wears Pandora jewellery

The luxury jewellers’ trade body faced an exodus yesterday as Pandora and Cartier quit over its stance on Russia. 

It left the Responsible Jewellery Council over a failure to suspend Russian firms and ensure members cut ties with the country.  Danish firm Pandora, the world’s biggest jeweller, and worn by actress Millie Bobby Brown, has annual sales of £2.6billion, and suspended ties with Russia and Belarus in February. 

Boss Alexander Lacik said: ‘Pandora cannot in good faith be a member of an association that does not share our values.’ 

And founding member Cartier, part of Swiss conglomerate Richemont, said the council was not ‘upholding the highest of standards’. Russia produces almost a third of the world’s diamonds. 

Rivals such as Tiffany, owned by French giant LVMH, are still council members. Tiffany this month said it would no longer buy diamonds mined in Russia.

The council has refused to call for an end to sourcing diamonds from Russia. 


Source link

Must Read