Our Group has a long-standing commitment to doing business responsibly. We know that there is always more to do regarding such corporate and industry-wide sustainability efforts and strive to improve each year.
Our ‘Movement for Better Luxury’ is supported by four focus areas: People, Sourcing, Environment and Communities - each of which has an owner at Group level and a series of commitments. These four areas are driven by strong governance, active engagement and continuous innovation in materials and processes.
The strategy development process included research of the external environment, current and future trends as well as expectations of key stakeholders. Our recent materiality update (see Materiality Matrix below) has also informed its development, highlighting key risks and opportunities across our value chain. We also engaged deeply with senior business leaders, functional and Maison representatives as well as the CSR Committee to develop appropriate priority areas and commitments. Our Transformational Strategy combines three levels of ambition over the short, medium and long term, providing our Maisons with greater flexibility on how to achieve their goals.
How we manage strategic and operational risks across the business, including sustainability, sourcing and supply chain
How we enhance the sustainability of our products and processes, and the skills and employability of our people
How we proactively engage with our stakeholders taking their interests into account to guide our strategy
Sustainability report 2020
Our Sustainability report 2020 demonstrates how we are meeting our commitments and describes how we manage our social, ethical and environmental impacts. As a responsible luxury goods company, we seek to improve lives across all points in the luxury value chain.
Highlights from the year include the development of our Transformational Strategy, an updated materiality review and significant developments within the Responsible Jewellery Council.
In addition, our Maisons engaged proactively with WWF, the world's leading independent conservation organisation, in its review of leading Swiss watch and jewellery companies.