Students at Rosy Blue Diamonds
Lindner Students Meet with Companies Abroad
Written by: Professor Tony Salerno
March 22 2016 -- This year’s visit to Rosy Blue Diamonds was a success for students as we learned about one of the most prestigious diamond and jewelry companies in the world.
Rosy Blue Diamonds was founded in 1960 and throughout its history, its core values have been rooted in being more than diamonds by placing a heavy emphasis on industry transparency and corporate social responsibility. On our visit, we had the pleasure of being welcomed by Valerie Michel, who is Rosy Blue’s Corporate Social Responsibility Manager. Valerie gave us a presentation on the business philosophy at Rosy Blue.
During the talk, Valerie discussed how the company was exercising its founding principles of accountability, integrity, and diversity. One of the key initiatives undertaken by Rosy Blue in order to remain accountable as a company and an industry is to ensure that their diamonds are sourced in a way that allows for long-term sustainability:
"During our visit to Rosy Blue, Valerie talked about how sustainability was one of their core values because that is one of the best ways to build long-term build relationships with customers and suppliers." Grace Kays
Diamonds on display
In addition, Valerie talked about how Rosy Blue was one of the pioneering companies in upholding the integrity of the industry by setting the standard for labor human rights and suitable working conditions throughout their supply chain:
"Rosy Blue had the most impressive stance on corporate responsibility I have seen in regard to their treatment of their laborers in their manufacturing plants, humanely mined diamonds, and anti-child-labor campaigns. I was shocked that they did all of this in addition to tracking diamonds from sourcing to the customers’ hands to guarantee authenticity and quality." Josh Rivers
In an industry that is primarily male-dominated, Valerie noted how Rosy Blue embraces diversity in terms of their employee composition much more than other diamond companies. Students also noted how Rosy Blue was consistent with other business cultures in Belgium as far as valuing family time:
"In our talks with the representatives at P&G and Rosy Blue, I noticed a lot of talk about the family and time spent with the family. At P&G they allow an increased amount of time for both paternity and maternity leave to spend with the family. At Rosy Blue, well, it’s a family business so clearly family is important to them." Peter Wahl
After learning about the company as a whole, Valerie took us on a tour of the facilities. As we walked through the building, the students were in awe not only of the sheer quantity of diamonds the employees were handling but also in the amount of care that was given to each one.
Global diamond jewelry retail sales were roughly 70 billion US dollars last year. Despite the diamond industry being a massive source of consumer spending, consumers typically know very little about the diamonds they buy and the manner in which they are sourced. As we said our goodbyes to the folks at Rosy Blue, students remarked at how the company was a great example of what good CSR could look like.