Signet CEO responds to Human Rights Watch criticisms
Fellows named leading Regional Auction House
Thieves attempt ram-raid robbery on Rolex store in Leeds
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ETHICS
Signet CEO responds to Human Rights Watch criticisms
The CEO of Signet Jewellers has responded to criticisms levied against the company and the jewellery industry on the whole in an open letter .
Virginia Drosos ’ s response came after a Human Rights Watch ( HRW ) report rated the company ’ s policies towards responsible sourcing as ‘ moderate ’.
In the letter Drosos labels criticisms from the HRW towards the RJC as “ incorrect ” and that the report “ contains language chosen more to criticise our industry rather than provide constructive recommendations ”.
Read the full letter from the Signet CEO below : jewellery , for me , like many customers , is all about a meaningful moment , about a relationship , about self-expression . At Signet Jewelers , we have the privilege of selling a product that inherently carries a strong emotional attachment and can be the conduit to a customer ’ s most memorable moments . It is also one of the key reasons that the responsible sourcing of the gold , diamonds and other precious metals and stones must be a priority for everyone along the global jewellery supply chain .
Signet believes that visibly leading in the area of responsible sourcing is essential for our success , and our industry ’ s growth . Customers want transparency . They respect integrity . They care about the story behind what they purchase . We must respect that , and work together to give it to them .
As part of our efforts to take the lead in ensuring the integrity of the global jewellery supply chain , Signet created the award-winning Signet Responsible Sourcing Protocols . Mandatory for all Signet suppliers , these Protocols incorporate best-in-class principles that ensure Signet is leading the continuous improvement in the integrity of the jewellery global supply chain with an emphasis on transparency and the
protection of human rights . Certified Responsible Jewellery Council ( RJC ) membership is also a requirement for all Signet jewellery suppliers . RJC membership reinforces Signet ’ s industry leadership position on responsible practices and requirements in the areas of human rights , health and safety , and labour practices throughout the global Signet supply chain .
Recently , Human Rights Watch ( HRW ), a non-profit organisation , released a report on ‘ The Hidden Cost of Jewelry .’
In the spirit of transparency and cooperation , Signet and other members of the jewellery industry engaged openly and extensively with HRW .
Unfortunately , the report contains language chosen more to criticise our industry rather than provide constructive recommendations . In particular , we believe HRW ’ s assessment of the RJC standards is incorrect . We would welcome HRW to engage more constructively with the RJC and other participants in the jewellery industry .
Unwavering product integrity is fundamental for Signet - and we believe it should be for the entire industry . Going forward , Signet urges everyone with a stake in our industry to join us in this diligent pursuit of excellence and transparency .
ACCOLADES
Fellows named leading Regional Auction House
Auction house Fellows has said that it the ‘ leading UK regional auctioneer ’ by hammer total , after recording overall sales of £ 17m in 2017 .
The group said it has been “ continuously growing ” as a company in recent decades , with increasingly popular watch and jewellery auctions “ thriving ” as each month goes by . It added : “ We are delighted to be leading the way for regional auction houses with exciting consignments and an already strong start to 2018 .”
A notable sale in 2017 was the
Fancy Intense Yellow Diamond Ring by Graff Diamonds , sold for £ 1,307,600 ( including buyer ’ s premium ). The sale of the Graff ring was the top price in the UK for a regional auction house in 2017 and the first seven-figure bid from a regional saleroom since 2012 .
Stephen Whittaker , managing director at Fellows , said : “ The past 12 months have been fantastic for Fellows , and we hope to continue growing . We simply couldn ’ t do it without our supportive clients and our excellent staff .
“ We ’ ve sold some incredible items over recent months , and the combined effort of everyone connected to the company is great to see .”
CRIME
Thieves attempt ram-raid robbery on Rolex store in Leeds
Would-be thieves attempted to rob a Rolex in Leeds city centre by ramming a car into the shop window , but were left emptyhanded .
West Yorkshire Police are now appealing for information the incident at the Rolex at Prestons store in Commercial Street .
The offenders , who were wearing balaclavas , arrived at the scene at 11:54 am on Sunday 18 February in two vehicles – a red Fiat Stilo and a blue Ford Focus ST .
The Fiat was reversed into the shop window and the robbers , who were armed with various tools , then attempted to remove the glass . They were unable to gain access and drove off empty-handed .
Detective inspector James Entwistle , of Leeds District CID , said : “ We are continuing to carry out extensive enquiries into this incident which was a frightening experience for staff in the shop and for the many members of the public who witnessed it .”
March 2018 | jewelleryfocus . co . uk JEWELLERY FOCUS 15