Ethics of doing business

While precious jewellery has long been a symbol of love and care, few consumers have pondered a deeper meaning in the pieces - social conscience.

Some Hong Kong-based jewellers have taken note of that. John Hardy has raised public awareness of deforestation through one of its collections and its large-scale bamboo-planting campaign in Bali, where the company's design studios and workshops are based.

'The financial crisis has left a big impact on the relationship between [luxury goods] brands and consumers,' notes Damien Dernoncourt, CEO of John Hardy. 'There is a growing trend that people feel the need for a reason before they purchase something. It is more complicated than just attractive items. I think it matters to the consumers for brands to show their care.'

His sentiment is shared by Ashwin Makhija, director of Platinum Heart, who thinks jewellery will mean a lot more when consumers know that throughout the entire process, from procurement of the precious materials to production, everyone involved is treated fairly. 'Consumers in their 20s and 30s have a higher awareness of the [gem trade-related] social issues compared to the older consumers.'

Platinum Heart has formulated its business strategies on sourcing gemstones from ethical sources and ensuring artisans in small workshops in Jaipur, India, where the company acquires some exclusive hand-made pieces, get a fair share of the profits.

When Canadian John Hardy first set foot on Bali in the mid-1970s, he fell in love with the place and developed a fascination with the intricate metalwork practised on the island. He built his compound of jewellery-making workshops dedicated to completely handcrafted pieces, design studios and homes based on eco-friendly architectural principles in the late 1980s. Dernoncourt bought the company in 2007 and has expanded the eco-sustainability ideas to include corporate social responsibility programmes.