Wal-Mart launches responsibly mined jewelry
July 15, 2008
Bentonville, Ark.—Retail giant
Wal-Mart Stores Inc. has launched Love, Jewelry, a fine-jewelry collection composed of 100 percent traceable gold and silver that's been mined and manufactured according to top industry standards, the company announced today.
The line is Wal-Mart's first step toward having all the gold, silver and diamonds used in the jewelry sold in its Wal-Mart Stores and Sam's Club locations come from mines and manufacturers that meet the retailer's sustainability standards.
The retailer aims to have at least 10 percent of its jewelry offerings meet this standard by 2010.
To realize this initiative, Wal-Mart has partnered with a number of top industry suppliers including Rio Tinto and its Kennecott Utah Copper (KUC) Bingham Canyon Mine in Utah, Denver-based gold manufacturer Newmont Mining Corp. and Aurafin, a Tamarac, Fla.-based jewelry manufacturer.
Aurafin is a brand of the Richline Group Inc., a wholly owned subsidiary of Berkshire Hathaway Inc.
During the next phase of the partnership, Wal-Mart plans to expand the number of partners and to add diamonds to the Love, Earth line, according to a release from the company.
Love, Earth jewelry is available at Wal-Mart and Sam's Club stores, as well as online at
Walmart.com and
SamsClub.com.
The Wal-Mart Love, Earth collection is made from 10-karat gold and sterling silver; the Sam's Club collection from 14-karat gold and sterling silver. Each collection includes fashion pendants, hoop earrings, bangles and fashion beads.
Those who purchase the jewelry can go to
LoveEarthInfo.com to see on a map where the gold and silver in the jewelry was mined and manufactured, and to learn about the environmental practices of that mine.
Pam Mortensen, Wal-Mart vice president and divisional merchandise manager, said the company is in a unique position to influence sustainable practices in the jewelry industry, as the largest jewelry retailer in the world.
According to
National Jeweler's
The State of the Majors 2008 report, Wal-Mart topped the list of $100 Million Supersellers with about $374.5 billion in jewelry sales worldwide in 2007, and 4,009 jewelry departments in the United States.
Andrew Harding, president of Kennecott Utah Copper, said they are impressed with Wal-Mart's efforts to become more sustainable.
"Companies like Rio Tinto and Wal-Mart have an opportunity to change the way products are manufactured and used to reduce impacts on the environmental and local communities," he said.
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