Communities

Richemont is committed to the communities in which it operates. Our Maisons seek to contribute to promoting the health, welfare, and sustainable economic development of their wider communities. We encourage and support our employees in their efforts towards improving society.

Our Maisons and our employees have a long history of supporting a wide range of charitable causes. This is based on a variety of reasons:

Local citizenship - we depend on the local
communities around many of our manufacturing plants and some communities depend on us as a source of employment and tax revenue.
Global citizenship - customers increasingly expect and reward companies that support social and environmental causes in imaginative ways.
Cultural citizenship - our Maisons embody the essence of art and benefit from operating in societies that are culturally literate.
Ethical responsibility - we believe this is the right thing to do.

Our approach

Guidance on our community activities is set out in our Corporate Social Responsibility Guidelines, of which all Maisons receive a copy. The four broad areas in which we seek to contribute:

Charitable involvement - both financial involvement and non-financial support in the form of resources and staff volunteering time to charitable organisations.
Sponsorship activities - financial support of local or international initiatives. Maisons support initiatives which are suited to their own values, image and profile of their clientele.
Fostering new talent - Richemont acknowledges the strategic importance of developing technical skills and a spirit of excellence amongst both existing and potential future employees. Maisons operate apprenticeship programmes and the Group invests in education initiatives such as the Richemont Creative Academy.
Responsible citizen - Richemont recognises its obligations to its communities through the payment of all taxes in compliance with prevailing fiscal rules and regulations.

Our approach to corporate citizenship is not based on “one-size fits all”. Rather, we believe that our Maisons are best placed to select appropriate activities to support, ones which reflect their own communities, employees, customers and brands.

Measurement

Last year saw us measure our level of community spend for the first time. This year our community spend increased to €14m for the 12 months to 31 March 2008, compared to €12m last year. This is an increase of over 14% and equates to over 1% of our profit before tax.

Our commitment to supporting the art of fine watchmaking

The Fondation de la Haute Horlogerie (‘FHH’) was established in Geneva in 2005 to promote the art of fine watchmaking. Richemont Group, alongside Audemars Piguet and Girard-Perregaux, was a founding member, and Dr. Franco Cologni, Senior Executive Director of Richemont, serves currently as the Chairman of the Fondation.

Its mission is to promote and develop the art and expertise of technical and precious fine watchmaking around the world, through its technology, creativity and know-how.The FHH provides training and information for the different participants in the fine watchmaking sector and organises international trade fairs, exhibitions and events for professionals and retailers from around the world.

Fine watchmaking is now more popular than ever and originates from technical inventions and aesthetic creations dating back over 700 years. The legacy of its history and craftsmanship continues to be built upon using the skills of today’s craftsmen.

To ensure the international scope of its activities, the FHH has set up 15 local delegations worldwide. They are headed by mission delegates with a leading background in watchmaking, who organise events, training and communication on watchmaking and FHH. The Foundation also has around 100 Fine Watch Ambassadors worldwide, from retailers and collectors to experts in the watch industry. Their role is to:

Represent and promote FHH’s activities to the public, media, retailers and brands
Contribute to the fight against counterfeits
Participate in local exhibitions, training events and trade fairs
Locally implement the Foundation’s commitment to cultural development
Keep the Foundation informed of progress

Training, cultural evenings and exhibitions

FHH organises training programmes for employees at brands’ own boutiques and distributors of fine watches. The courses provide knowledge and expertise of fine watches, to provide participants with credibility and professionalism. International cultural evenings and events for fine watch aficionados and members of the public include lectures and workshops on history and technology and the opportunity to see some of the world’s finest historic timepieces. The Exhibitor Committee of the Salon International de la Haute Horlogerie (‘SIHH’) appointed FHH to organise the 2008 SIHH in Geneva. For full information on the SIHH, go to www.sihh.ch

HH Journal

HH Journal, the first online monthly magazine for fine watches, provides an international audience with information of the highest standard. HH Journal includes articles on news, history, technology and economics regarding watchmaking, to decipher the challenges facing the watch industry today and tomorrow.

Masters of Haute Horlogerie

Masters of Haute Horlogerie is a collection of documentary DVDs devoted to the people and techniques involved in fine watchmaking. The films showcase both centuries old and cutting-edge watchmaking expertise through the portrait of specialists and artisans in the field. They are specifically intended to spark young people’s interest in the different aspects of watchmaking and have been also been shown on television channels such as TV5 Monde and National Geographic, as well as partner websites.