Responsible Sourcing

We continually strive to build a more sustainable business by integrating human rights and environmental considerations into every commercial decision we make, with the aim of safeguarding against risk and growing our product range from more ethically aware and responsible supply chains.

In a world that needs as all to buy less - but buy well- we are proud that the watches and jewellery we sell are produced using techniques that are designed to be enjoyed for generations optimising precious materials.

FY23 PERFORMANCE HIGHLIGHTS

• Our Vendor Code of Conduct was updated and we developed new ESG Partner Standards
• We partnered with the international non-profit organisation, the Slave-Free Alliance and undertook an independent review of our response to the risk of modern slavery and human rights contraventions
• We advanced our Modern Slavery Transparency Statement to ensure we respect and promote human rights in all our interactions and relationships
• We mapped supply chain logistics, conducted a climate risk assessment and identified key climate-related supply chain risks and opportunities
• Our independent watch and jewellery supplier factory audit programme continued
• We welcomed a new Executive Director, Global Buying and Merchandising

FY24 AREAS OF FOCUS

• Continuing to engage supplier partners with our ESG Partner Standards
• Requiring supplier partners to align with relevant, well recognised sustainability standards or certifications
• Progressing our supplier partner factory audit programme
• Continuing to map supplier partners onto our Supply Chain Management System, EcoVadis
• Further strengthening our response to Modern Slavery and Human Rights risks
• Equipping colleagues with training and resources to help clients make more informed purchasing decisions

human rights and modern slavery 

We take great pride in operating with integrity and transparency and would never knowingly engage with a supplier that is in any way involved in human trafficking, servitude, forced labour or any other aspect of modern slavery. The Group supports the principles set out in the UN Universal Declaration of Human Rights and has measures in place to identify, assess and mitigate potential labour and human rights abuses across our value chain.  More information can be found in our Modern Slavery Statement.

SUSTAINABLE PROCUREMENT

Our goal is to achieve full traceability of products, in order to evaluate their environmental and social impact. We also seek to ensure all precious metals and gemstones are ethically sourced from non-conflict countries. All Supplier Partners must provide written guarantees that they comply with international regulations and do not do business with terrorist organisations, international narcotics traffickers, or entities that threaten national security, foreign policy, or the economy of the countries they operate in.

KIMBERLEY PROCESS CERTIFICATION SCHEME AND THE WORLD DIAMOND COUNCIL SYSTEM OF WARRANTIES

All suppliers of diamonds, or jewellery incorporating diamonds, must comply with the Kimberley Process Certification Scheme, as well as all laws in relation to this scheme and the World Diamond Council System of Warranties Assurance (WDC SoW). Any diamonds supplied to us must be conflict free and accompanied by written guarantees in line with WDC SoW Assurance.

GOLD AND OTHER PRECIOUS METALS

All precious metals supplied to us must demonstrate legal compliance according to all the provisions of the financial market supervisory authority and be sourced from refineries on the London Bullion Market Association Good Delivery List or the UAE Gold Good Delivery Scheme.

ANIMAL WELFARE

We will not tolerate any harsh or inhumane treatment of animals and only buy watches through the most reputable manufacturers. All suppliers must provide written confirmation that any animal skins used to make watch straps are sourced from sustainably managed sources and conform to relevant international laws, including the Convention on International Trade in Endangered Species.

We continue to grow our range of more socially and environmentally preferable product options, including straps made from materials such as recycled plastic, rubber and cloth to provide clients with more choice in line with changing lifestyle preferences and values.

Payment practices 

The Group understands the importance of maintaining good relationships with suppliers and it is Group policy to agree appropriate terms and conditions for its transactions with suppliers (ranging from standard written terms to individually negotiated contracts) and for payment to be made in accordance with these terms, provided the supplier has complied with its obligations. Find out more about The Group’s payment practices report.

Anti-corruption and bribery

The Anti-Bribery and Corruption Policy is regularly reviewed by the Audit Committee and reinforces that the Board is committed to conducting the Group's business affairs to ensure that it does not engage in or facilitate any form of corruption.  The aim of the Policy is to ensure compliance with applicable anti-bribery and corruption legislation and regulation and to ensure that colleagues act responsibly and ethically at all times when conducting business. It also sets out the Group's protocols in relation to hospitality and gifts.  The Board has overall responsibility for this Policy.  The Group's Company Secretary & General Counsel has day-to-day responsibility for the Policy and will report to the Chair of the Audit Committee and to the Board as required.  Colleagues are required to complete mandatory e-learning annually.

Tax Strategy

The Group manages its tax affairs responsibly and proactively to comply with tax legislation. The Group pays corporation tax on its operations in the UK and in the US and does not operate in any tax havens or use any tax avoidance schemes. We seek to build solid and constructive working relationships with all tax authorities.