PANDORA CSR Report 2013 - page 10-11

At PANDORA, product is king. Our bracelets, charms,
rings, earrings and necklaces form the backbone of
PANDORA’s business and integrated value chain, allowing
us to design, produce and release asmany as seven
collections per year. In2013, we topped this off by also
introducing a newbracelet concept, the PANDORA
ESSENCECOLLECTION.The seven yearly releases
provide newness and freshness toour stores and contribute
considerably to PANDORA’s growth.The future success
of our companywill continue to rest onour value chain’s
ability to develop the right products, and to deliver them at
the right place, time and price.
PANDORA jewellery is composed of qualitymaterials
such as silver, gold, leather, stones, pearls, gemstones and
diamonds.These commodities, often debatedby influential
stakeholder groups, are increasingly targeted by regula-
tion. In addition to continuing our overall commitment to
responsible business practices, it is becoming evermore
pivotal for PANDORA to constantly strive towards a still
more sustainable supply chain.
Besides core jewellerymaterials, PANDORA purchase
a range of products for use in our stores, including fixtures,
furniture, in-store decoration, jewellery bags and gift boxes.
In 2013, we identifiedCSR compliance as one of the five
pillars that will drive the PANDORAGroup Procurement
strategy. As a result, the existingCSR expert teams in
Bangkok andCopenhagen have been supplemented by
a dedicatedquality andCSR unit embedded intoour
procurement team inHong Kong.
At the centre of PANDORA’s value chain are our
jewellery crafting facilities inThailand, where approxi­
mately 6,000 highly skilled craftspeople produce the
vast majority of our products.This setuphas allowed
us tooperatewith a relatively small number of suppliers
withwhomwe have established long-lasting relationships
characterisedby trust and interdependence. PANDORA
acknowledges that the advantageswe enjoy from this
setup are accompanied by a responsibility to strive to
ensure ethical practices among our partners.
We engagewith our suppliers throughour four-step
Responsible Supplier Programme, whichwe use to screen,
train and audit our suppliers aswell as to ensure swift
actionwhenever non-complianceswith PANDORA’s
Supplier’s Code of Conduct are identified.
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