IWC Schaffhausen announces it will become the most sustainable luxury watch brand
The luxury watch brand is leading the way in the socially responsible business stakes
Luxury Swiss watch brand IWC Schaffhausen has released its first ever responsibility target in its quest to become the most socially responsible timepiece brand. The series of sustainability objectives the brand hopes to achieve by 2020, include reducing its volume of primary packaging by 30% and increasing the number of women in management positions by 50%.
Presented at an exclusive conference held at the brand’s Mayfair boutique on Monday 16 April, IWC Schaffhausen’s Sustainability Report also detailed further important sustainability targets on training, reducing greenhouse-gas emissions by 10% and managing its supply chain in a responsible manner. Achieving Responsible Jewellery Council (RJC) Code of Practices recertification, which has been held since 2014, was also on the bill, cementing its commitment to the UN Sustainable Development Goals. The move marks a first for such a pledge to be revealed by a luxury Swiss company, in hope of other luxury brands following suit.
“We strive to create long-term value for both our business and society while preserving our heritage of quality, craftsmanship and innovation," said CEO Christoph Grainger-Herr. "By publishing our first sustainability report in accordance with the GRI’s global best-practice standards, we are taking a pioneering step in the Swiss luxury watch industry by closely measuring and actively managing our progress.
“We are committed to demonstrating transparency and accountability regarding the impact of our business on the economy, the environment and society. Together with our stakeholders, we want to steadily work towards achieving our own targets and supporting the UN Sustainable Development Goals.”
Franziska Gsell, the brand's Chief marketing officer and sustainability committee chair, added: “We believe that sustainable business practices help us to deliver top-line growth and bottom-line results, and mitigate risk. By reporting our progress biannually against measurable targets that are closely aligned with the priorities of our key stakeholders and the UN Sustainable Development Goals, we are delivering against our potential for improvement with a sharper and more informed focus on the issues that matter most.”
The swiss luxury watch brand was founded in 1868 – celebrating its 150th anniversary this year – and has upheld its reputation as innovators ever since – for example with the premiere of The IWC Jubilee 150th Anniversary Collection at this years Salon International de la Haute Horlogerie, (SIHH) a line of 27 watches which all featured either blue lacquer or white lacquer dials – a nod to the enamel used on the original Pallweber pocket watches.