Pandora Exits RJC over Boycott Dispute

RAPAPORT... Pandora is bowing out of the Responsible Jewellery Council (RJC) because the trade group has failed to suspend Russian companies.The Danish jeweler had urged the RJC to suspend memberships and responsible-business certificates for all Russian businesses in its association following the country's February 24 invasion of Ukraine, it said Wednesday. It also requested it ask other members to stop doing business with Russia.On the day of the attack, Pandora suspended all of its business with Russia and Belarus, it noted. In addition, the company instructed its suppliers and business partners that it would not accept any raw materials, products or services that came directly or indirectly from Russia."We are shocked and saddened by the unprovoked attack on Ukraine, and our thoughts go to the people of Ukraine, who are victims of this senseless act of military aggression," said Pandora CEO Alexander Lacik. "The war requires all businesses to act with the utmost responsibility regarding any interactions or business dealings with Russia or Belarus. Pandora cannot, in good faith, be a member of an association that does not share our values."Image: A Pandora store in Harrogate, UK. (Pandora)