The Jewellery and Watch Trade Fair in Hong Kong served as a platform to voice the concerns of organizations dedicated to ethics and responsible business practices,  and emphasized the need to make reputation the core focus of their business houses.

Sponsored by CIBJO, (the World Jewellery Confederation), the Council for Responsible Jewellery Practices (CRPJ), the De Beers Group, and Jewellery News Asia, a seminar on “The Importance of Reputation” was held to highlight the need for maintaining a good reputation over the risk of compromising future success.

Customers need to have faith in the company they are buying from. Jewelers were urged to make sure that they were taking their social, technical and ethical responsibilities seriously. Chairman and CEO, Aber Diamond Corporation - Bob Gannicott, emphasized that “a key component of retail margin is based entirely on the level of trust- in diamond jewelry sales, lower trust equals lower margins”. Dr. Gaetano Cavalieri, President of CIBJO, pointed out that “We are witnessing the rise of the conscious consumer. The industry is addressing this shift with guiding principles for retailers around the world. Retailers need to respond – sit up, listen, and take action”.

In order to be updated and aware of the guidelines for responsible business practices, retailers were encouraged to join the CRPJ, get the new CIBJO quick reference guide, and to download a copy of the CIBJO Blue Book.

The CRPJ launched its Code of Practices in 2006, and will bring out its Responsible Practices system in early 2008. The aim is to “define, promote and monitor responsible practices of our members throughout the gold and diamond jewelry supply chain” said CRPJ CEO, Michael Rae.

“Believe in me: a jewelry retailers guide to consumer trust”, offers simple solutions to implement trust. The CIBJO Blue Book is the accepted world standard for disclosure and terminology.