Signet Love Inspires Foundation Helps Victims in Ukraine

Rhea-AI Summary

Signet Jewelers Limited (NYSE: SIG) announced a $1 million donation to the Red Cross for Ukraine humanitarian relief efforts. The company has halted business with Russian-owned entities in response to the invasion. Signet emphasizes its commitment to supporting impacted families through the Signet Love Inspires Foundation, which will also match employee donations by 2:1 up to $1,000 per person per year. This initiative aims to provide food, medical supplies, and shelter to those in need as the crisis in Ukraine intensifies.

Positive

• Donation of $1 million to the Red Cross for humanitarian relief in Ukraine.
• Suspension of business with Russian-owned entities indicates ethical stance.

Negative

• None.

HAMILTON, Bermuda, March 11, 2022 /PRNewswire/ -- Signet Jewelers Limited ("Signet") (NYSE:SIG) today announced the Signet Love Inspires Foundation will donate $1M to the Red Cross Ukraine humanitarian relief efforts, through its global network. Signet has suspended business interaction with Russian-owned entities since the beginning of the invasion, in unity with all those in the world calling for peace. 

"At Signet, our Purpose is Inspiring Love. We stand against this invasion and pray for all the innocent people impacted by war," said Signet CEO, Virginia C. Drosos. "We put our purpose into action through the Signet Love Inspires Foundation and the generous contributions from our Signet team members. We give with a grateful heart to support the Red Cross organization's critical mission to provide lifesaving help where it is so desperately needed."

The Signet Love Inspires Foundation is donating $1 million to the Red Cross Ukraine humanitarian relief efforts, through its global network. The Red Cross is actively on the ground in the region providing much needed Ukraine Refugee Relief. Through this donation we will help provide much needed food, medical supplies, shelter and ongoing crisis relief.

To maximize individual giving, the Signet Love Inspires Foundation will also match donations from Signet team members by 2:1 up to $1,000 per person per year, to the Red Cross and other qualifying organizations to assist with the humanitarian relief efforts.

"As the fighting intensifies in Ukraine, so does the dire situation for impacted families," said Gail McGovern, president and CEO of the American Red Cross. "We cannot thank Signet Love Inspires Foundation enough for their generous donation, enabling the global Red Cross network to provide humanitarian relief in response to the Ukraine crisis."

About the Signet Love Inspires Foundation
The Signet Love Inspires Foundation was established in 2021 as a 501(c)3 non-profit organization with the aim of providing grants to 501(c)3 non-profit organizations supporting underserved women and children, and social change advocacy. Additionally, the Foundation provides matching gifts to qualified 501(c)3 non-profit organizations personally supported by Signet team members. Learn more at www.signetjewelers.com/our-company/signet-love-inspires-foundation.

About Signet Jewelers
Signet Jewelers Limited is the world's largest retailer of diamond jewelry. As a purpose-driven and sustainability-focused company, Signet is a participant in the United Nations Global Compact and adheres to its principles-based approach to responsible business. Signet is a Great Place to Work –Certified™ company and has been named to the Bloomberg Gender-Equality Index for four consecutive years. Signet is a founding member of the Responsible Jewellery Council, an active member of the World Diamond Council, adheres to the Kimberley Process and created the award-winning and open-source Signet Responsible Sourcing Protocol. Further information on Signet is available at www.signetjewelers.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/signet-love-inspires-foundation-helps-victims-in-ukraine-301501066.html

SOURCE Signet Jewelers Ltd

FAQ

What is the recent donation by Signet Jewelers regarding Ukraine?

Signet Jewelers announced a $1 million donation to the Red Cross for Ukraine humanitarian relief efforts.

How is Signet Jewelers supporting the Red Cross?

Signet Jewelers is supporting the Red Cross by donating $1 million and matching employee donations by 2:1 up to $1,000.

What actions has Signet Jewelers taken regarding Russian entities?

Signet Jewelers has suspended all business interactions with Russian-owned entities since the start of the invasion.

What is the purpose of the Signet Love Inspires Foundation?

The Signet Love Inspires Foundation aims to provide grants and matching gifts to organizations supporting underserved women and children.

Why did Signet Jewelers make a donation to Ukraine?

The donation aims to provide critical aid such as food, medical supplies, and shelter to families affected by the war in Ukraine.