Interview with

Estelle de Caneva

Group CSR Director

“The roll-out of our WeTHOM plan and its results have helped significantly transform the Group and create sustainable value for all stakeholders.”

At a time when sustainability issues have never been more important, 2025 was a very constructive year for the Group’s transition towards increased responsibility. The roll-out of WeTHOM and the progress made in many projects are proof that we have embarked on a positive dynamic. Estelle de Caneva, Group CSR Director, looks back on the highlights of 2025.

What were the CSR highlights of 2025?

2025 was a particularly busy year for our CSR trajectory, actively helping transform the Group. THOM began to reap the rewards of various action plans undertaken in recent years. The results are tangible, adding sustainable value to our entire ecosystem. Among our most noteworthy areas of progress, I’d like to highlight:

the launch of the Group’s RJC Certification. In 2025, the Group embarked on a major step in the WeTHOM plan by launching its RJC certification process (Responsible Jewellery Council). This challenging structural project consisted of several objectives: fulfill the WeTHOM plan’s commitments, consolidate our market leadership position, boost stakeholder confidence (customers, partners, investors), and manage our reputational, social, and regulatory risks.
The certification process is progressing rapidly and provides the Group with opportunities for continuous improvement and harmonisation in its practices and sustainable compliance.
the increased strength of our responsible purchasing strategy. 2025 marked a major advancement in the roll-out of our responsible purchasing strategy. Most of our suppliers joined in by signing our new Responsible Charter. Our goal is to achieve 100% engagement during FY26. At the same time, the percentage of our certified suppliers (RJC or SMETA 4) has continued to grow, and the share of our non-branded purchases made from certified suppliers reached 87.3% this year. The implementation a supplier-by-supplier risk evaluation
a very significant improvement in our carbon footprint. In 2025, the Group recorded a major reduction in its greenhouse gas emissions – the result of effective actions and sound environmental initiatives. With a 11% reduction in greenhouse gas emissions, at constant scope, on a like-for-like basis, compared to 2023 (the reference year for the SLB target), the Group is making tangible progress towards reaching its climate goal (30% decrease by 2030). This is the result of including more and more climate concerns in our operational decisions.
the use of CSRD as a value creation lever. While the Group will be subject to CSRD requirements only starting from FY28, it has already initiated a structured and progressive approach toward CSR compliance. As part of this approach, THOM conducted a double materiality assessment in 2025, using it as an opportunity to challenge and strenghten its WeTHOM responsible development plan and marking an important step in the Group’s progressive alignment with CSRD principles. At the same time, THOM started restructuring its non-financial reporting system to make it more reliable and consistent throughout the Group.

In a particularly challenging economic context, how can financial and non-financial performance be reconciled?

Firstly, we have an integrated, collective approach to social responsibility. From the very beginning, THOM has considered CSR as being fully integrated into the Group’s business functions. WeTHOM’s different projects are being steered by project managers from different company positions, which ensures solid operational grounding. The Group’s CSR Committee and Department set a goal, frame the changes to be made, and help promote a culture of corporate responsibility, while the business side implements action plans on a day-to-day basis.

We do everything we can to raise awareness among the Group’s team members and get them on board. We paid particular attention to internal awareness-raising and communication, using an approach based on opting in rather than obligation. Giving meaning to challenges, helping teams in true business partner fashion, using existing processes and communication channels, and prioritising simplicity – these are our core principles in boosting the impact and implementation of our CSR approach.

We rely on an ecosystem of internal contributors. For the success of our transformation, we depend on committed teams. Project managers are essential relay points who share CSR issues and best practices within their functions. COMEX members play a key part as sponsors, while Finance teams help measure the results of our actions. CSR makes up a cornerstone of the Group’s strategy and is borne with conviction and commitment by every single governing body.

How far along has the WeTHOM plan been rolled out in the Group’s countries and entities?

The action plans that make up the three pillars of WeTHOM have been efficiently implemented throughout the Group’s countries and main entities, despite some differing maturity levels here and there. RJC certification was a major factor in making practices more consistent across the Group.

“Bringing out the best in our employees” pillar

In early 2025, THOM and Great Place To Work® rolled out a social barometer aimed at a better understanding of employee needs and expectations. All of our entities obtained the Great Place To Work® certificate. The results showed that 86% of our employees were proud to work at THOM.

This barometer allows the Group to prioritise actions and measure their impact. With these results in mind, we set up workshops in every entity and country to standardise action plans that meet employee expectations. The initiatives we implemented enabled us to:

simplify operating processes and save time for in-store teams;
adjust store schedules as much as possible, making them more flexible to improve work-life balance without compromising on customer service;
boost equal opportunity policies with awareness raising initiatives around the employment of people with disabilities;
progressively implement the THOM for Me programme providing psychological support and various types of help (administrative, legal, social, family, and health problems) for all employees;
gradually expand THOM Academy internationally to share new skills and support professional development for our teams in every country.

These initiatives testify to the Group’s willingness to turn employee development and well-being at work into a performance booster and a key pillar in THOM’s culture.

“Developing a responsible business model” pillar

The Group made major progress in responsible purchasing, particularly with regard to non-branded purchases, which account for the majority of its purchasing volumes. All suppliers must now observe our Responsible Purchasing charter, which provides a common foundation of social, environmental, and ethical requirements. Today, most of our precious metal jewellery is produced by certified suppliers. We have also set up a more comprehensive supplier risk evaluation mechanism, which uses a scoring system enabling us to ensure that our requirements are adhered to, adapt our decisions, and tailor our assistance actions.

On the environmental front, we carried out a far-reaching initiative aimed at reducing energy usage. The Group entered into decarbonised energy contracts and launched energy conservation plans aimed at sustainably reducing its consumption. These decisions led to an 8% decrease in energy consumption across the entire Group and a 23% decrease in France compared to our reference year of 2023.

We also launched several initiatives for reducing our environmental impact: streamlining the purchase of packaging within the Group, gradually rolling out recyclable packaging, launching mini-grip bags recycling, and implementing a structured waste management system – first at our head offices before progressively covering more stores.

“Offering sustainable products” pillar

THOM has made recycled gold a key lever for reducing the carbon footprint of its value chain, relying on a definition and protocol aligned with international standards (RJC CoC 2024), validated by its auditors. This approach also includes gold flows repurchased from customers, which are melted and recycled in refineries. Several pilot suppliers have been engaged with quantified targets and traceability requirements, enabling the achievement of 15.3% recycled gold in purchases in FY25. This momentum will be gradually expanded to accelerate the decarbonization of the value chain. By expanding its use of recycled gold, the Group is taking concrete steps to reduce the major environmental impact linked to extracting precious materials.

What are the Group’s CSR priorities in FY26?

Our objective is to keep transforming the Group to boost its positive impact, prioritising projects that promote well-being at work, developing responsible purchasing, and reducing greenhouse gas emissions. These priorities can only be turned into action if we strengthen internal and external communication. THOM will keep encouraging team and partner commitment across the entire value chain, fostering a sense of pride and confidence in our products. The Group will continue incorporating RJC and CSRD requirements into its sustainable performance approach, turning compliance into a lever for continuous progress.