The second edition of the Watch & Jewellery Initiative 2030 (WJI 2030) CEO Forum convened in Paris recently gathering more than 70 C-suite leaders from across the watch and jewellery industry including Danat’s CEO Noora Jamsheer.
Jamsheer joined the forum themed “The Value of Principles and Transparency in an Era of Disruption and Polarisation”, which highlighted innovative strategies for businesses to future-proof through enhanced transparency and disclosure.
The forum, which included sessions by global strategy experts, such as Martin Reeves, the Chairman of the BCG Henderson Institute that boasts a think tank dedicated to exploring and developing new insights from business, technology, economics and scient, underscored WJI 2030’s continued commitment to driving sustainability and transparency within the luxury sector, affirming that collaboration and collective action are indispensable for navigating this era of unprecedented disruption.
Vital role
Jamsheer stated that in the realm of personal luxury goods, the jewellery industry plays a vital role. “As a leader within this sector, the jewellery industry bears a responsibility to embody the essence of luxury by conducting business with integrity, responsibility and prestige. Upholding these values today requires that businesses in the jewellery industry actively engage in addressing the climate challenge,” she says, reiterating the maxim that both people and planet matters, with the conscious consumer now starting to ask more critical questions.
“To appeal to Millennials and Gen Z – who are predicted to make up for 70% of the luxury market by 2025, it is becoming more and more apparent that the jewellery industry, and luxury brands in general, need to shift their mindset, towards sustainability. Even though the essential pillars of luxury, including beauty, comfort, and elegance, are still retained, there is a new crop of lifestyle goals and aspirations currently at play, which is causing a major revaluing of priorities. True luxury cannot exist without embracing real ecological principles and the consumers of today seem to resonate with this,” she adds.
WJI 2030 is the jewellery industry’s leading body, steering the industry towards sustainability, and seeing itself as an accelerator working with its members, key strategic partners and the industry at large to develop impactful innovative solutions and guide its members in delivering meaningful impact on its three pillars of climate resilience, biodiversity and nature (preserving resources) and inclusiveness, with Jamsheer the chairperson for the Nature and Biodiversity pillar.
Founded by Kering Group and Cartier, WJI 2030 is driven by the common conviction that the UN Sustainable Development Goals (SDGs) and aspirations for a sustainable industry can only be achieved through strategic collaborative initiatives. Today, leading brands make up the initiative members, including Chanel, Pandora, Boucheron, Cartier, Gucci, Bottega and many others.--TradeArabia News Service
