Twelve global companies whose annual combined sales exceed US$147 billion say they will not cooperate with Chinese factories that use children labor or ask employees to work excessive hours.
The 12 companies include Brookstone, one of the largest retailers in the United States; Circuit City, the second largest electronic retailer in America; and Kesa Electricals, the third largest electronics retailer in Europe. They say that price will not be the top priority they consider in their negotiations with the goods suppliers, and they will immediately terminate cooperation with any factories that are found to employee children or ask employees to work too much overtime.
The companies made the commitments at the Global Sources Private Sourcing Event held in Shenzhen.
"In a year, we might meet a single buyer at this level. Today, we met privately with four of the world's largest buyers," said Iposky Electronics Vice General Manager, Power Lee. "This is an excellent chance for us to enter new markets and learn from working with top buyers."
Craig Pepples, Chief Operating Officer of Global Sources, says that compared with the past, the minimum price is losing its appeal to the top international buyers who are actively promoting corporate social responsibilities. Instead, the quality of the suppliers is what value most to these international buyers.
