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De Beers, Tiffany & Co. donate to COVID-19 causes

The jewellery industry has rallied behind efforts to fight the COVID-19 pandemic, with jeweller Tiffany & Co. and diamond producer De Beers among the companies offering significant financial contributions.

De Beers has pledged $US2.5 million ($AU4.08 million) to support governments and communities in Botswana and Namibia – in which it operates large-scale mining operations in partnership with governments – as they work to contain the spread of the virus.

According to a statement from the company, the funds will assist in securing medical supplies, food and water, promoting COVID-19 awareness and education, and supporting local clinics.

Bruce Cleaver, De Beers Group
Bruce Cleaver, De Beers Group
"De Beers is supporting the unprecedented efforts of healthcare professionals, community leaders and all those confronting COVID-19 in the countries and communities in which we live and work"
Bruce Cleaver, De Beers Group

Bruce Cleaver, CEO De Beers Group, said, “De Beers is supporting the unprecedented efforts of healthcare professionals, community leaders and all those confronting COVID-19 in the countries and communities in which we live and work.

“We have refocused our business in our host communities to support the response to the pandemic and our priorities are clear: prepare communities for the crisis, support the emergency response and be a partner in economic recovery.”

Meanwhile, Sergey Ivanov, CEO Alrosa, the world’s largest diamond producer by volume, has sold 50 per cent of his personal shares in the company to fund COVID-19 relief efforts in Yakutia, Russia, where it operates several mines.

The proceeds of the sale totalled RUB18.5 million ($AU397,895).

“All proceeds from the sale will be used to pay for medicines, [and] medical and personal protection equipment for the Mirny district of Yakutia,” Ivanov said. “I understand that today is not an ideal moment for selling shares. However, under [the] current circumstances, the speed of procurement of scarce medical supplies becomes crucial. Paying from [my] personal account makes purchasing easier and faster.”

In the US, Tiffany & Co. – which is in the process of being acquired by French luxury conglomerate Moët-Hennessy Louis Vuitton SE (LVMH) – has pledged $US750,000 ($AU1.22 million) to the COVID-19 Solidarity Response Fund for the World Health Organization and $US250,000 ($AU408,000) The New York Community Trust NYC Covid-19 Response & Impact Fund, through its corporate giving entity The Tiffany & Co. Foundation.

Jean-Christophe Babin, Bulgari
Jean-Christophe Babin, Bulgari
"At Bulgari, we are proud to do our part in the continued fight against the spread of this deadly virus"
Jean-Christophe Babin, Bulgari

Anisa Kamadoli Costa, chairman and president The Tiffany & Co. Foundation, said, “We are proud to support organisations providing immediate relief for communities impacted by COVID-19, including our hometown of New York.”

The company will also match any employee donations as part of its existing corporate policy.

In France, LVMH has converted perfume and cosmetics factories to produce hand sanitiser, as well as financing and distributing 40 million face masks from a Chinese supplier. Italian jewellery, watch and accessories brand Bulgari, which is owned by LVMH, has also begun producing hand sanitiser for Italian hospitals. 

Meanwhile, Chinese jewellery company Chow Tai Fook has begun manufacturing face masks for the public, at a rate of 200,000 per day, while French luxury conglomerate Kering - which owns Gucci, Pomellato, and Boucheron, among other brands - will supply 3 million surgical masks to French hospitals.

 

support during the COVID-19 pandemic

Financial contributions: 

  • De Beers Group: $US2.5 million to organisations in Botswana and Namibia 
  • Tiffany & Co.: $US750,000 to the World Health Organization (WHO) and $US250,000 to The New York Community Trust
  • LVMH: RMB16 million to the Red Cross Society of China
  • Kering€2 million to Italian hospitals; $US1.1 million to Red Cross Society of China; $US1 million to CDC Foundation, a US health charity
  • Bulgari: €100,000 to Lazzaro Spallanzani Hospital, Rome
  • Graff: $US1 million to the United Nations Foundation COVID-19 Solidarity Response Fund

Non-financial contributions: 

  • LVMH: 40 million face masks and 12 tonnes hand sanitiser per week to French hospitals
  • Bulgari: 12,000 bottles per day hand sanitiser to Italian hospitals, and Swiss hospitals from 10 April
  • Kering: 3 million surgical masks to French hospitals 
  • Chow Tai Fook200,000 face masks per day to the public in China


More reading:
De Beers cancels March sight; Gemfields auctions uncertain
Coronavirus forces drastic measures in watch and jewellery industry

 

 











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Saturday, 30 May, 2020 03:43pm
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