In line with principles set in the Standards of Business Conduct, any situation that gives rise, or might give rise, to a conflict of interest must be declared as soon as it occurs, in line with Richemont’s core values, which include honesty, truthfulness and authenticity.

Richemont takes responsibility to comply with the laws, regulations and standards that help avoid bribery and corruption anywhere it does business. A dedicated online training programme is available on the subject. 

Richemont maintains open and constructive contact and communication with tax authorities and other stakeholders in the jurisdictions where it operates, to understand governments’ tax policy objectives and tax authorities’ processes. This ensures compliance with both the letter and the spirit of relevant domestic and international tax laws.

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Richemont’s policies and practices are aligned with the United Nations Guiding Principles on Business and Human Rights and the Principles of the United Nations Global Compact (UNGC), to which Richemont has been a participant since 2013.

In FY24, the Richemont Human Rights Statement was published, which highlights the focus areas, the impact of the Group’s value chains and the policies that include a focus on human rights. A dedicated human rights training module was launched this year to raise awareness on the focus areas in the statement.

The Group’s commitment to upholding human rights is reinforced by a skilled and dedicated Human Rights Taskforce, which is chaired by the Chief Sustainability Officer.

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The Richemont Speak Up Platform, launched in June 2022, forms an essential part of the Group’s ethical framework and allows employees and any affected third party to report concerns by telephone or an online form, with an option for anonymity. All procedures are documented using the Navex EthicsPoint platform, which ensures an audit trail that meets regulatory requirements.

Richemont launched a general employee awareness campaign and provided Group-wide training in order to promote the Speak Up Platform. The Group is constantly learning from the reporting of concerns and adapting its business practices accordingly. Richemont continues to raise internal awareness of the Speak Up Platform.

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The Richemont Sustainability Online Academy brings expertise inhouse and moves away from project-based interventions to one consistent approach across Maisons, functions and regions.

Richemont provides a range of tools and training, including but not limited to a global training programme on ‘Business & Human Rights at Richemont’ under the Richemont Sustainability Online Academy, a comprehensive training programme to promulgate the Group’s Standards of Business Conduct, compliance learning modules on ethical topics, global and regional awareness campaigns about Speaking up, a compliance Learning Series 2022/2023 and eLearning modules on ‘Modern Slavery & Human Trafficking’.

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