Context

Adopting fair and ethical labour practices and promoting human rights is vital for society as well as for Richemont’s reputation and on-going success. We require our business partners to adhere to the high standards we set ourselves.

 

Our approach

In accordance with good practices, Richemont’s Supplier Code of Conduct includes an endorsement of International Labour Organisation Conventions, the Universal Declaration of Human Rights and other internationally recognised labour practice standards. It is also aligned with the UK Modern Slavery Act.

The Code covers the following areas:

  • Healthy and safe working conditions – providing a healthy and safe working environment in accordance with applicable laws and regulations;
  • Wages and working hours – complying with local legislation on minimum wages, working hours and employee benefits;
  • Freedom of association – allowing workers to associate with lawful and peaceful workers’ associations;
  • No discrimination – not subjecting people to discrimination based on factors including ethnicity, age, religion and sexual orientation, amongst others;
  • No child labour – not employing people under the age of 15 or younger than the age for completing compulsory education;
  • No forced employment – not using forced labour and not using employment where terms are not voluntary;
  • No disciplinary treatment – not subjecting people to harassment, violence or intimidation;
  • Responsible environmental management – fully complying with local legislation, industry regulations and the Richemont Environmental Code of Conduct.

The Maisons have developed their sourcing strategies to take into account the risks of suppliers, or their supplier’s supplier, failing to meet the Group’s expectations. This is particularly the case for child labour and forced labour risks, which are assessed as part of the supplier qualification process and during any subsequent inspections and audits. Supplier-screening data are not disclosed. The audit of suppliers is described elsewhere in this report.

Richemont is a participant in the UN Global Compact and supports its Ten Principles.

 

Slavery & human trafficking

The California Transparency in Supply Chains Act and the United Kingdom Modern Slavery Act require certain businesses to provide information regarding their efforts to address the issue of slavery and human trafficking, thereby allowing consumers to make better, more informed choices regarding the products they buy and the companies they choose to support.

Richemont is opposed to slavery and human trafficking and desires its supply chain to be free of these scourges. Our complete corporate disclosures regarding Slavery and human trafficking may be found here.