Bermudian-based Signet Jewelers Limited has announced that the Signet Love Inspires Foundation will donate $1 million to the Red Cross Ukraine humanitarian relief efforts, through its global network.

Signet, the world’s largest retailer of diamond jewellery, said it 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 organisation's critical mission to provide life-saving help where it is so desperately needed."

Through this donation, Signet said, the organisation will help provide much needed food, medical supplies, shelter and ongoing crisis relief.

To maximise individual giving, Signet said, 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 organisations to assist with the humanitarian relief efforts.

The Signet Love Inspires Foundation was established in 2021 as a 501(c)3 non-profit organisation.