Ethos Limited, which is a renowned luxury watch retailing company in India, published its Business Responsibility and Sustainability Report for the financial year 2023-24. The report enfolds the commitment made by the company towards responsible business practices, coupled with the themes of sustainability and promotion of efforts regarding the minimization of its environmental footprint. Ethos focuses more on aligning operations with national as well as global standards to ensure ethical governance and sustainable growth within a very competitive market.
Body: Ethos Limited leads at the vanguard of the Indian high-end watch market, which deals with a range of luxury brands. Even though it is traditionally a luxury retail store, the company has continued to expand its focus on sustainability. In the 2023-24 BRSR, Ethos reflects pro-active efforts to build more sustainable business practices across operations-division management to supply chain-level sustainability.
One of the core themes identified in this year’s report is the company’s efforts at minimizing its environmental footprint. Ethos has registered several efficiencies based on energy-efficient practices, most notably at retail outlets. It became necessary to standardize LED lighting systems and rationalize energy management of consumption, reducing electricity consumption with resultant massive carbon footprint minimization for the company. The firm has also transformed to accommodate digital transactions and marketing, thus opting for fewer paper products for waste and improving its eco-friendly efforts.
Water conservation is yet another core pillar in Ethos’ sustainability agenda. On its part, the company conserves the minimal use of water from offices and stores by investing in water-efficient technologies wherever they can be used. In addition to that, protocols of waste management have been established to take care of waste and recycling to foster a circular economy further within its operational framework.
Such values are committed through ethos in terms of social responsibility. The report explained how the corporation of 1,000 employees was responding to the well-being issues in employees, especially those related to diversity, inclusion, and safety. Ethos ensures fair treatment and makes health benefits, professional development opportunities, and healthy work cultures possible for women amongst its employees substantially high, thus giving testimony to the fact that the company holds out gender equality as a priority for the organization.
On governance, Ethos adheres to the National Guidelines on Responsible Business Conduct (NGRBC), one of which is strictly following practices to ensure transparency with stakeholders and a clear communication chain. Ethos also ensures that its supply chain partners toe the line of sustainable sourcing and fair labor practices, for as such, the brands it represents have to uphold the same values as Ethos regarding responsibility towards the environment and ethics.
The company report also mentions community engagement. Ethos has been trying to move back to society through giving back in the form of CSR initiatives. The CSR initiatives provided by it have been for education, health, and projects related to the conservation of local environmental spaces. Thus, catering to the basic issues of the environment as well as society keeps Ethos at the forefront of responsible luxury retailing.
Conclusion: The business responsibility and sustainability report 2023-24 of Ethos Limited portrays the undiminished commitment of the organization toward sustainability and good governance. In the wake of booming energy-saving initiatives, waste management, employees’ welfare, and community engagement, Ethos sets a new benchmark for a responsible business in the domain of luxury watch manufacturers. The company, therefore, does not only ensure business growth but also contributes to a better and more responsible global economy as it works and aligns with global standards and takes proactive measures towards sustainability in the future.
Source: BRSR
Credit: Ethos Limited