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JA roundtable discusses corporate compliance

Jewelers share responsible business practices to ensure consumer confidence

June 04, 2008

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Las Vegas—Industry leaders participating in a roundtable discussion hosted by Jewelers of America (JA) at the JCK jewelry show in Las Vegas on May 31, discussed how the needs of socially conscious consumers are affecting their supply-chain relationships.

John Hayes, owner of Goodman Jewelers in Madison, Wisc., discussed how his store, which is located within blocks of the University of Wisconsin, has felt the influence of younger consumers, who ask questions about where jewelry originates.

Hayes said he's been able to address these concerns with guidance materials provided by JA, which in turn has increased consumer confidence.

He also noted the importance of staying aware and informed as a retailer, and added that his store's commitment to responsible business practices—and its membership in the Council for Responsible Jewellery Practices—has set it apart.

"When you do the right things people will notice and it will build your business," he said.

Kathe Mai, a partner in Trios' Studios in Lake Oswego, Ore., spoke about how her store sells responsibly produced gemstones sourced from Columbia Gem House and its jewelry manufacturing division, Trigem Designs in Vancouver, Wash.

"It's not just a marketing tool. It's a commitment to living and doing business by the fair trade model," she said.

Cecilia Gardner, president, chief executive officer and general counsel of the Jewelers Vigilance Committee, addressed the most important legal and regulatory questions to ask suppliers. She said that being in compliance can have a positive impact on relationships throughout the supply chain.

"We need to build a corporate culture of compliance so that compliance becomes part of your regular activities of running a store," she said.

Gardner emphasized how this is especially important today with increased scrutiny from the government, heightened consumer awareness, criminal investigations and prosecutions, and human rights campaigns.

Michael Rae, chief executive officer of the Council for Responsible Jewellery Practices (CRJP), spoke about consumers' new expectations for the products they buy. He noted that in CRJP's upcoming Responsible Jewelry Practices System, members will be audited on a range of ethical, social and environmental practices. CRJP members who have volunteered for this kind of third-party scrutiny acknowledge the fact that consumers are increasingly skeptical of a business's individual claims that it is operating responsibly.

John Hall, general manager of external relations for Rio Tinto Diamonds, spoke about how heightened business responsibility is now a required part of a modern miner's "license to operate." From the communities that live around mines to civil society groups, there are new demands that go beyond the demands of government.

Hall also spoke about the Business Excellence System that Rio Tinto requires of the Indian firms that cut and polish its rough diamonds.

"We need to demonstrate that the integrity of our supply chain is beyond reproach," Hall said.
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