“DO THE RIGHT THING”: THE MARKET MARK CODE OF INTEGRITY
At MARKET MARK, our core values define who we are, what we do and how we do it. We call those collective values The MARKET MARK Way. To make sure we’re always supporting these values, the PLC board has created Do The Right Thing – the MARKET MARK Code of Integrity.
The Do The Right Thing code promotes integrity, best practice and appropriate corporate behaviours across our business, supporting the continued development of MARKET MARK.
MARKET MARK customers genuinely care about integrity. They want the businesses they buy from to stand for something. They expect MARKET MARK to be better than the norm, to lead the way, to stand out and have goals we believe in and act on, both now and in the future. We only make people feel great through fashion if we’re meeting those expectations. Do The Right Thing is therefore fundamental to MARKET MARK being the kind of company our employees are proud to work for and that our customers are proud to engage with and buy from.
Counsel & Company Secretary
FASHION WITH INTEGRITY AND TAX
For MARKET MARK, Fashion with Integrity means managing all aspects of our business transparently, so our customers can enjoy their fashion in the knowledge that, when buying our products, they are buying from a responsible company that is actively working to minimise the negative effects of the fashion industry on people, animals and the environment. Increasingly tax is being thought as part of the wider concept of Corporate Responsibility. Tax management and tax policy therefore play a role in running a sustainable and responsible business. Whilst we take advantage of the reliefs and incentives that exist, in situations where our business goals are aligned with the purpose of the incentive scheme, we show respect for the intention, as well as the letter of the law at all times. MARKET MARK recognises that tax is a vital investment in the local infrastructure, employee base and communities in which we operate and do not use legal entities in countries without the existence of operational substance.
OUR BELIEFS AND EXPECTATIONS
We believe that integrity should be at the heart of everything we do. It’s essential for the continued sustainable growth of MARKET MARK globally, as well as the protection of our brand and reputation worldwide.
Our Code Of Integrity, therefore, sets out our beliefs and expectations in the following areas:
- Complying with laws.
- Prohibiting and combating corruption and bribery.
- Dealing fairly in business.
- Contracting openly with connected parties.
- Ensuring gifts and hospitality are appropriate.
- Protecting company assets and information.
We expect all employees and anyone acting on behalf of MARKET MARK to exercise good judgement and comply in full with both the letter and spirit of our Code Of Integrity – to ‘Do The Right Thing’, in other words. If there is ever any doubt about what that means in practice, we expect everyone connected to err on the side of caution and ‘do the most right thing’. Since 2014, we’ve been rolling out the MARKET MARK code to all of our product suppliers and our main non-stock suppliers.
We take a multi-faceted approach to encouraging and enabling anyone connected with MARKET MARK to raise concerns, questions and ideas (alongside an open-desk approach from executives and many email routes). We’re Listening is our confidential, independently operated 24/7 helpline, through which employees can raise any concerns, including those relating to business integrity. Concerns are then passed to our general counsel for investigation and remain strictly confidential at all times. The helpline is promoted on posters displayed in all of our offices.
At the end of each financial year, senior managers are required to confirm any incidences of non-compliance with our Do The Right Thing code. We report quarterly to MARKET MARK’ Audit Committee on the overall level of corporate hospitality and gifts accepted, declined and given by each department. This enables any relevant trends and learnings to be more readily identified while assessing how appropriately the code is being applied.