Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Social Responsibility
• Corporate Governance

Environmental Achievements

• Achieved 100% renewable energy for manufacturing units in Jaipur.
• Developed two Miyawaki forests, planting approximately 26,000 saplings.
• Composting all biodegradable waste and safely disposing of plastic and e-waste in India units.

Social Achievements

• Served 13 million meals to schoolchildren through the 'Your Purchase Feeds...' initiative.
• India, US, and UK units are Great Place to Work certified.
• Launched 10 new female fashion apparel brands.

Governance Achievements

• 50% of board members are independent.
• Paid 41% of earnings as dividends.

Climate Goals & Targets

Environmental Challenges

• Global macro challenges of volatility, cost inflation, and pandemic-led aberrations.
• Freight cost increases and sea/air freight capacity constraints.
• Inflation-led economic headwinds and muted consumer sentiment.

Mitigation Strategies

• Diversified portfolio and focus on investing in future capabilities.
• Vertical model to reduce delivery time and control product quality.
• Prudent capital management and focus on profitability.

Supply Chain Management

Responsible Procurement

• Vertically integrated supply chain across 30+ countries.

Climate-Related Risks & Opportunities

Opportunities

• Renewable energy initiatives.

Environmental Metrics

ESG Focus Areas

• Environment
• Governance
• Stakeholder Relationships

Environmental Achievements

• Commissioned 1.55 MW solar projects, increasing total solar capacity to 3.23 MW, powering 100% of Jaipur manufacturing facilities with renewable energy.
• Installed rainwater harvesting structures, harvesting ~61 lacs litres of water.
• Recycled 48 KL of water per day (~17,500 KL annually).
• Planted ~1,600 trees, bringing cumulative plantation to over 5,600 trees.
• Planted 26,000 saplings in two acres using the Miyawaki forestation concept.
• LEED Platinum certified building in Jaipur SEZ.

Social Achievements

• Distributed 84 electric two-wheelers to employees.
• Provided over 63 million meals through the “Your Purchase Feeds…” program.
• Provided online consultation by medical experts to employees during the pandemic.
• Carried out vaccination drives and home delivery of medicines and oxygen concentrators for employees.
• 92.80% of permanent employees received safety & skill up-gradation training.

Governance Achievements

• Established a Whistle Blower Policy.
• Implemented an Anti Sexual Harassment Policy.
• Implemented an Anti Bribery and Corruption policy.
• Awarded ‘Best Governed Company’ by ICSI.
• Received ‘Commitment to Being a Great Place To Work’ award and GPTW certification.

Climate Goals & Targets

Environmental Challenges

• Quality defects resulting in customer rejections (reduced to 1.01% of total orders).

Mitigation Strategies

• Continuous efforts to reduce quality defects.

Supply Chain Management

Responsible Procurement

• Supplier code of conduct

Climate-Related Risks & Opportunities

Awards & Recognition

• Best Governed Company by ICSI
• Commitment to Being a Great Place To Work
• GPTW certification

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• SEZ unit in Jaipur is Net Zero Energy Building certified
• 2 manufacturing units in India, 2 premises in the US, and 1 premise each in the UK and Germany utilize 100% renewable energy
• Successfully conducted and passed SMETA-4 pillar audit for 2 units in India
• Generated nearly 47.67 lakh kWh of electricity from solar energy, equivalent to a reduction of 3,710 tonnes of CO2 emissions
• Planted 28,000 saplings in 2 Miyawaki forests and 7,000 more saplings at other locations
• Recycled 17,500 KL of water annually

Social Achievements

• Served approximately 75 million meals to underprivileged children through ‘Your Purchase Feeds…’ program
• All business units except Germany are Great Place to Work® certified
• Achieved excellent CSAT scores of 95%+ for US and UK

Governance Achievements

• Board comprises 38% Independent Directors, including one independent woman director
• Separate positions of Chairperson of the Board and Managing Director
• Annual performance evaluation of Board, Directors, and Board Committees

Climate Goals & Targets

Environmental Challenges

• Moderating consumer demand amidst an inflationary environment
• Geopolitical tensions
• Cyber-attacks temporarily disrupting operations in the US and UK
• Strikes at major delivery partners in the UK
• High inflation in western economies resulting in subdued consumer spending

Mitigation Strategies

• Judicious investment in strategic initiatives (expanding household reach, increasing marketing spend in OTT)
• Sustained efforts towards cost optimization and operational efficiency
• Expanding product portfolio (Gold and diamond products)
• Content improvement
• Accelerating household expansion through OTA, digital, and OTT medium
• Upgrading technology infrastructure (Salesforce Commerce Cloud, Shopify)
• Cost rationalization initiatives (leveraging in-house call center, renegotiating contracts, GEEK+ robotics automation)

Supply Chain Management

Supplier Audits: SMETA-4 pillar audit for 2 units in India

Responsible Procurement

• Responsible Sourcing Charter extended to major suppliers
• Frequent engagement and training programs with key suppliers

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: BRSR (Business Responsibility and Sustainability Report) in line with NGRBC (National Guidelines on Responsible Business Conduct)

Certifications: LEED Platinum (SEZ unit), Great Place to Work® (most units)

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 8 (Decent Work and Economic Growth)
• Goal 9 (Industry, Innovation and Infrastructure)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)
• Goal 2 (Zero Hunger)

Initiatives contribute to these goals through renewable energy use, job creation, sustainable manufacturing, responsible sourcing, carbon emission reduction, and mid-day meal program

Awards & Recognition

• ICSI CSR Excellence Awards
• India Risk Management Award
• Ethics in Business Award
• Business Leader of the Community
• Best Company to Work For 2022
• India’s Growth Champion 2022
• India’s Top 50 Best Workplaces™ in India 2023

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Generated 4.1 million kWh of solar energy annually, fulfilling 100% of energy requirements at 2 manufacturing facilities.
• Created two Miyawaki forests comprising approximately 28,000 trees.
• Harvested 6,100 KL of rainwater annually and recycled 4.8 KL of water daily.
• Converted 100% of biodegradable waste into compost and recycled plastic and electronic waste.
• Reduced carbon emissions by eliminating 12 buses from the fleet and using 184 electric two-wheelers and three electric cars.
• SEZ unit received Net Zero Energy Building certification by IGBC.

Social Achievements

• Provided 87 million meals to school children under the ‘Your Purchase Feeds…’ programme.
• Group subsidiaries received ‘Great Place To Work®’ certifications.
• Achieved 96%+ CSAT scores across locations.
• Integrated ‘Unreasonable Hospitality’ principles into operations.

Governance Achievements

• Separated the positions of Chairperson and Managing Director.
• Board includes independent directors and 2 women directors.
• Annual performance evaluations of the Board and individual directors are conducted.

Climate Goals & Targets

Environmental Challenges

• Moderating consumer demand in an inflationary environment.
• Cautious consumer behavior due to the cost of living crisis in the UK.
• Fluctuations in currency exchange rates.
• Frequent regulatory changes in key geographies.
• Geographic and channel concentration risk.
• Inventory management, including product obsolescence.
• Attracting and retaining talent.
• Supply chain disruptions.
• Corporate and brand reputation.
• Environmental, social, and governance (ESG) related risks.

Mitigation Strategies

• Recalibrated business strategies, focusing on customer satisfaction.
• Strategic acquisitions (Ideal World and Mindful Souls).
• Strengthened digital infrastructure (Salesforce Commerce Cloud, Marketing Cloud, Service Cloud).
• Optimized digital marketing campaigns.
• Leveraged AI for TV planning, demand forecasting, and content generation.
• Robust diversified portfolio as a hedge against currency fluctuations.
• Strong forex management controls and back-to-back arrangements.
• Consistent monitoring of regulatory changes and a competent legal team.
• Focus on expansion into new global markets and expanding product portfolio.
• Low-cost production methods, alternative sourcing strategies, and direct sourcing of gemstones.
• Diversified product portfolio, web-based auction mechanism, discounted pricing.
• ESOP schemes, RSUs, competitive remuneration, and HIPO programme.
• Business continuity plans, alternative vendors, insurance policies, and fire safety training.
• Prompt redressal of customer complaints, monitoring brand perception.
• Maintaining adequate policies and standards, engagement with Akshaya Patra.

Supply Chain Management

Responsible Procurement

• Sustainable sourcing practices
• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: NGRBC

Certifications: ISO 9001:2015, LEED v4 Platinum, IGBC Green Building, SMETA, Net Zero Energy

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 13 (Climate Action)
• Goal 2 (Zero Hunger)

Initiatives contribute to these goals through renewable energy adoption, carbon emission reduction, and mid-day meal programs.

Awards & Recognition

• India Risk Management Award
• Best Security Operations Center Implementation Award
• Net Zero Energy Building certification
• Great Place to Work®
• IGJ Award 2024

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Increased solar power capacity to 3.23 MW, addressing 100% of energy requirements in Jaipur manufacturing facility and 100% in two US buildings.
• LEED Platinum certification for Jaipur manufacturing unit.
• Planted 26,000 saplings for a Miyawaki forest.
• Recycled 17,500 KL of water per year.
• Deployed 84 electric two-wheelers and 3 four-wheelers for employee commute.

Social Achievements

• Provided 61 million meals to children through ‘Your Purchase Feeds’ program.
• Contributed to COVID-19 relief efforts (oxygen plants, concentrators, BiPAP machines, masks, meals).
• 23% women employees in total workforce.
• Conducted employee engagement activities and launched a new career development program for high-potential employees.
• Achieved Great Place to Work certification in India, US, UK, and China.

Governance Achievements

• Ranked 65th in India’s Next 500 list by Fortune India.
• 50% independent directors on the Board, including one woman.
• Robust compliance management with satisfactory checks and balances.

Climate Goals & Targets

Environmental Challenges

• Water scarcity in Rajasthan.
• Supply chain disruptions due to weather events.
• Increasing regulations and evolving public preferences.

Mitigation Strategies

• Water conservation initiatives (rainwater harvesting, recycling).
• Investing in electric vehicles.
• Hazard Identification and Risk Assessment (HIRA) conducted regularly.
• Implementing SMETA audit and Corrective Action Plan (CAP).

Supply Chain Management

Supplier Audits: Surprise online and physical visits; future plans for third-party audits.

Responsible Procurement

• Supplier Code of Conduct aligned with UN Guiding Principles on Business and Human Rights.

Climate-Related Risks & Opportunities

Physical Risks

• Floods, cyclones, hurricanes, water scarcity, droughts

Transition Risks

• Increasing regulations, evolving public preferences

Opportunities

• Product and sustainable innovation
• Water stewardship
• Waste management
• Renewable energy
• Energy efficiency measures
• New technologies
• Diversification and resource substitution

Reporting Standards

Frameworks Used: Null

Certifications: LEED Platinum (Jaipur unit), IGBC Gold (Jaipur unit), ISO 9001:2015

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 13 (Climate Action)
• Goal 2 (Zero Hunger)
• Goal 3 (Good Health and Well-being)
• Goal 6 (Clean Water and Sanitation)
• Goal 8 (Decent Work and Economic Growth)

Initiatives aligned with SDGs through environment, social, and governance programs.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Rajasthan State Best Employer Award - 2021
• GPTW Best Leaders in Times of Crisis 2021
• Best Governed Company Award by ICSI for 2020
• IGJA Award