Luxury powerhouse companies such as Kering, Prada, and Capri Holdings are championing ethical practices in the fashion industry like never before. Their dedicated efforts towards sustainable development are setting the standard for a more responsible and inclusive approach to luxury fashion.
In response to the unique challenges brought about by the Covid-19 pandemic, these industry leaders have doubled down on their commitment to ethical practices. The recent initiatives introduced by Capri Holdings, Prada, and Kering underscore the industry’s collective shift towards fostering diversity, inclusivity, and social responsibility.
Capri Holdings, the renowned parent company of iconic brands like Versace, Michael Kors, and Jimmy Choo, made waves with the unveiling of the Capri Holdings Foundation for the Advancement of Diversity in Fashion. With a substantial pledge of $20 million, the foundation is dedicated to promoting equality, inclusion, and diversity within the fashion sector. CEO John D. Idol has reiterated the group’s determination to drive meaningful change through strategic investments.
Prada, on the other hand, made a significant impact by becoming a member of The Valuable 500, an initiative focused on empowering disabled individuals within large corporations. As the first luxury brand to join this groundbreaking movement, Prada is actively working on implementing concrete measures to establish a comprehensive inclusivity action plan. By welcoming individuals with Down’s syndrome into its Italian commercial team, Prada is leading by example and challenging industry norms.
Meanwhile, Kering has joined forces with Conservation International to launch the Regenerative Fund for Nature, a transformative sustainability project aimed at converting 1 million hectares of farmland into regenerative agriculture landscapes over the next five years. By providing support to farmers and financing projects on a global scale, the fund is focused on improving the quality and quantity of natural, regenerative raw materials for the luxury and fashion sectors.
Recognized as one of the top environmentally conscious companies by Corporate Knights, Kering is dedicated to driving positive change throughout the fashion supply chain. Marie-Claire Daveu, Kering’s chief sustainability officer, has stressed the importance of agricultural transformation in meeting climate targets and combating biodiversity decline. Together, these innovative initiatives signal a promising shift towards ethical luxury practices within the fashion industry.
To learn more about sustainable fashion practices and initiatives, check out Fashion Revolution and Eco-Age.
