French luxury group Kering, along with Cartier and the Responsible Jewellery Council, have recently announced a groundbreaking environmental pact for the watches and jewellery industry. This initiative is focused on setting comprehensive targets for reducing carbon emissions, protecting biodiversity, and adopting responsible practices by the year 2030. The decision to form this pact comes in response to the growing demand for sustainability and environmental consciousness among consumers, particularly the younger generation.
Jean-Francois Palus, the managing director of Kering, emphasizes the importance of collaboration and collective action in achieving these ambitious goals. He believes that by joining forces and working together, companies can have a greater impact and reach. Kering, known for its ownership of renowned jewellery brands Boucheron and Pomellato, as well as watch labels Ulysse Nardin and Girard-Perregaux, has already established itself as a leader in environmental sustainability within the apparel industry. In fact, in 2019, Kering’s chairman, Francois-Henri Pinault, spearheaded the Fashion Pact, an initiative that brought together numerous international brands to commit to reducing emissions and plastic use.
The watch and jewellery initiative plans to initially enlist European labels, including well-known brands like Tiffany, before expanding its scope to include companies from around the world. Cyrille Vigneron, CEO of Cartier, predicts that a significant number of major brands, as well as smaller ones and key suppliers, will join the initiative. He also suggests that highly profitable labels may face increasing pressure to participate. Interestingly, LVMH, the conglomerate that recently acquired Tiffany, did not take part in the previous Fashion Pact, which saw the involvement of luxury and mass-market brands.
The formation of this partnership between Kering, Cartier, and the Responsible Jewellery Council underscores their commitment to addressing and tackling environmental concerns within the watches and jewellery industry. By establishing clear targets and actively encouraging other brands to join the initiative, they aim to lead the way in promoting sustainability and responsible practices for the future of luxury fashion.
Useful links:
1. Responsible Jewellery Council
2. Kering Sustainability
