RAPAPORT… Pandora is bowing out of the Responsible Jewellery Council (RJC) because the trade group has failed to suspend Russian companies.
The Danish jeweler had urged the RJC to suspend memberships and responsible-business certificates for all Russian businesses in its association following the country’s February 24 invasion of Ukraine, it said Wednesday. It also requested it ask other members to stop doing business with Russia.
On the day of the attack, Pandora suspended all of its business with Russia and Belarus, it noted. In addition, the company instructed its suppliers and business partners that it would not accept any raw materials, products or services that came directly or indirectly from Russia.
“We are shocked and saddened by the unprovoked attack on Ukraine, and our thoughts go to the people of Ukraine, who are victims of this senseless act of military aggression,” said Pandora CEO Alexander Lacik. “The war requires all businesses to act with the utmost responsibility regarding any interactions or business dealings with Russia or Belarus. Pandora cannot, in good faith, be a member of an association that does not share our values.”
Image: A Pandora store in Harrogate, UK. (Pandora)
Pandora Exits RJC over Boycott Dispute
The Bottom Line
- Pandora urged the RJC to suspend Russian companies and halt business with Russia following the invasion of Ukraine.
- The jeweler ceased all operations with Russia and Belarus on February 24 and barred suppliers from sourcing materials linked to these countries.
- Pandora exited the RJC, citing a misalignment of values due to the council's inaction on Russian membership suspensions.
More Stories
AGTA Elects New Board Members
The four incoming directors will start their term in February 2027.
Signet Sales Slide in Second Quarter
Revenue down 0.5% year on year to $1.53 billion for the period.
Phillips Names New Jewelry Specialist in Italy
Gaia Maffioli brings 15 years of experience to the role.
