Our raw materials
Responsible raw materials procurement is a priority at Piaget and for Groupe Richemont.
Promoting an ethical gold and diamond trade
November 2012: Piaget welcomed Mr Michael Rae, director of the Responsible Jewellery Council (RJC), to its premises. Representatives of the brands and companies of Groupe Richemont, as well as the Fédération de Haute Horlogerie, were present for the occasion.
Ethics and responsible sourcing are an important part of our company's commercial practices. Piaget therefore carries out Corporate Social Responsibility audits when dealing with suppliers considered relatively exposed in terms of corporate social responsibility.
Responsible Jewellery Council
As concerns gold, diamonds and platinum group metals, Piaget joined the Responsible Jewellery Council (RJC) in 2005. This non-profit association works to build consumer trust in jewelry and watch products through the establishment of an international standard. Piaget was issued RJC certification in September 2011, following a certification audit conducted by an independent auditor approved by the RJC. In 2012, Piaget, in coordination with the RJC, is working on building a responsible gold and platinum metals supply chain.
Kimberley Process Certification Scheme
Piaget requires that all its diamonds receive the Kimberley Process Certification Scheme (KPCS) certificate, and applies the rules of the World Diamond Council (WDC) guarantee system to the letter. Currently, 74 member countries apply KPCS international regulations, including Switzerland. The goal of these regulations is to guarantee to the buyer that the proceeds of the sale of a diamond are not being used by rebel movements to overthrow legitimate governments. In addition, given serious infractions in Zimbabwe, the brand stopped purchasing diamonds from the Marange region in 2009.
Certification of leather bands
For its leather bands, Piaget uses skins from exotic animals. These are regulated on the international level through the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). The goal of this Convention is to ensure that the international trade of wild animal and plant species does not threaten the survival of the species to which they belong. To do this, a system of permits has been put in place. For an exotic skin to be exported, imported and re-exported, it must have a permit issued by the appropriate authority of the country of origin. Piaget goes beyond this standard, and no longer uses the skins of skates (shagreen), nor several different species of monitor lizards, pythons, or crocodiles (such as the saltwater crocodile) for its watch bands, and requires that its suppliers and subcontractors respect the CITES treaty.
There are currently no international regulations for precious stones. However, in 2007, the international community strongly condemned Myanmar, asking the jewelry industry to boycott precious stones exported by this country, in particular rubies, sapphires and jade. Piaget joined this boycott and has purchased no stones from Myanmar since 2007.
Coral, too, has been banned. Through this choice we hope to help protect the ocean floor.