Luxury conglomerates Prada, Kering, and LVMH are taking significant steps to demonstrate their commitment to social and environmental responsibility. In a series of recent announcements, these industry leaders have showcased their dedication to sustainability and their efforts to make a positive impact on the world.
At the IUCN World Congress, LVMH has partnered with UNESCO to promote the “Man and Biosphere” project. As the only corporate partner of MAB, LVMH has been collaborating with UNESCO since 2019 to preserve and enhance biodiversity. Through innovative solutions and sustainable practices, they aim to reconcile biodiversity preservation with the responsible exploitation of natural resources.
Kering has introduced the Regenerative Fund for Nature in partnership with Conservation International. The fund aims to implement regenerative agriculture practices across one million hectares of land over the next five years. This initiative will focus on the supply chain for cotton, wool, cashmere, and leather – materials used in the fashion and luxury industries. Kering and Conservation International will provide direct support to farmers through project financing in various countries.
Additionally, Kering has joined forces with Prospect 100, a platform dedicated to nurturing young talent in fashion, design, music, and innovation. They are supporting Prospect 100’s Global Design Competition, which focuses on sustainable fashion and is open to participants under the age of 25. The winner of the competition will receive a $4,000 scholarship and the opportunity to attend a masterclass at Kering.
Prada has also made significant strides towards social responsibility by partnering with Dorchester Industries, founded by artist Theaster Gates. Together, they are launching the Dorchester Industries Experimental Design Lab, a three-year program that supports emerging and established artists of color in various design industries. Prada will provide financial support and connect these artists with international organizations interested in collaborating with diverse talent. The first beneficiaries of this program will be announced in October.
These initiatives illustrate the growing focus on sustainability and social responsibility within the luxury industry. Prada, Kering, and LVMH recognize the importance of addressing environmental and social issues, and they are actively seeking ways to create a more sustainable and inclusive future. By championing biodiversity, regenerative agriculture, and supporting emerging talent, these luxury conglomerates are shaping a brighter future for the industry.
For more information on LVMH’s partnership with UNESCO for the “Man and Biosphere” project, see here.
For additional details on Kering’s partnership with Conservation International for the Regenerative Fund for Nature, visit here.
