Business Forum • 9 April, 2024 at 12:42 PM
Teilor Holding, a group of companies that includes the luxury jewelry chain Teilor, the financial lending company Invest Intermed GF IFN, and Teilor Invest Exchange, has published its 2022 Sustainability Report, marking the group's first such reporting. As part of Teilor Holding's commitment to ESG initiatives, the group has launched DAAR, a luxury brand of sustainable jewelry. The DAAR portfolio utilizes lab-created diamonds and recycled precious metals to minimize environmental impact.
"Over the past 25 years, we have built a niche of excellence in luxury, and the publication of Teilor Holding's first Sustainability Report proves our solid commitment to Environmental, Social, and Governance (ESG) principles. From Teilor's position in the jewelry industry, we redefine standards and launch new trends and traits that have characterized this brand since its launch. Thus, a natural continuation of our responsible journey is the creation and launch of DAAR, a new sustainable jewelry brand in the Romanian market. This effort illustrates our dedication to providing customers with the highest quality jewelry and our determination to ensure that our products are created sustainably," stated Florin Enache, founder of Teilor Holding.
The DAAR jewelry brand is part of the Teilor group, with the first dedicated store opened in 2023 in Promenada Craiova. In 2024, the company targets the expansion of the DAAR network by opening approximately ten stores in malls in Bucharest and across the country, with plans to launch an e-commerce channel in Q2 2024. DAAR's portfolio is centered around lab-created diamond pieces and offers a wide variety of sustainable jewelry, including 14K gold jewelry with lab-created diamonds and other precious stones or natural diamonds, 10K gold jewelry with or without zirconia crystals, and pieces made of silver or stainless steel.
Teilor Holding's Environmental Strategy focuses on reducing its environmental footprint, responsible sourcing raw materials, and the circular economy. The companies within the group have undergone a digitalization process by integrating digital platforms into their daily operations to streamline operations and significantly reduce paper consumption. At Teilor, 58% of all suppliers are members of the RJC (Responsible Jewellery Council), the world's leading organization for setting sustainability standards in the jewelry and watch industry. Regarding the circular economy, Teilor recycled 62.1 kg of gold in 2022, with 35.1 kg of gold used to create new products. Additionally, jewelry sold by MoneyGold, the brand encompassing Invest Intermed GF IFN and Teilor Invest Exchange, is made from 100% recycled gold.
Regarding the social dimension, Teilor Holding focuses on developing a fair work environment, reflected by gender equality, education, and fair wages promoted within the group companies. Thus, the wage ratio between women and men is generally equal or even favorable to female employees, with exceptions targeting certain seniority levels. Moreover, Teilor Holding invests in talent development within the companies, establishing the Teilor Talent Academy. Its aim is the professional development of Teilor employees, with 281 participating in courses in 2022, averaging 98 hours of training per employee for that year. Furthermore, Invest Intermed GF IFN employees and Teilor Invest Exchange benefited from an average of 19 hours and 14 hours of training in 2022, respectively.
Regarding governance, Teilor Holding maintains its commitment to ethical business conduct, including towards suppliers and employees of the group's companies. Policies included in the Employee Code of Conduct, dedicated to the 445 employees of Teilor and 265 employees of MoneyGold, cover a wide range of aspects, such as preventing corruption, harassment at work, or gender discrimination. In 2022, no such cases were reported at the level of the three companies comprising Teilor Holding.
"The Teilor Holding Sustainability Report is a formal embodiment of our values, highlighting the promotion of a fair work environment and dedication to transparency and integrity in our relationship with our stakeholders. ESG initiatives are an essential pillar of our strategy on the Bucharest Stock Exchange, aligned with our business objectives and the expectations and needs of our investors. Through corporate governance implemented across the group and its companies, we ensure that our decisions are made following the highest ethical standards, from the board of directors to the sales team in stores. All these demonstrate that we prioritize financial success and responsibility towards employees, investors, community, and the environment," added Mircea Varga, Chairman of the Board of Directors at Teilor Holding.