LVMH, the renowned luxury conglomerate known for its iconic brands like Louis Vuitton and Christian Dior, recently demonstrated its strong commitment to the environment. The company organized an exclusive event called the Life 360 Summit on December 14th, held at UNESCO, to highlight its progress in sustainability and shed light on its supply chain practices. Allowing executives, panel discussions, thematic conferences, immersive exhibitions, and a runway show by upcycling specialist and designer Kevin Germanier were just a few of the incredible features of this summit.
At the heart of the event was the unveiling of a support plan called ‘Life 360 Business Partners’, aimed at empowering LVMH’s suppliers. Through this initiative, targeted actions will be implemented to reduce the environmental impact of the supply chain. The objective is not only to curtail carbon emissions but also to tackle pressing issues such as water consumption and biodiversity. LVMH recognizes that addressing the supply chain can make a significant impact since scope 3 emissions currently account for a whopping 95% of the company’s carbon footprint.
Several brands within the LVMH family have already pledged their commitment to assist their suppliers in transitioning to more sustainable practices. By 2024, dedicated sessions will be held to understand the environmental goals and needs of these suppliers. Additionally, a knowledge-sharing portal will be created to facilitate the exchange of solutions, expertise, regulatory updates, and environmental training programs. To further enhance the suppliers’ knowledge and skills, access to the company’s Life Academy will also be granted.
Sustainability, for LVMH, encompasses regenerative agriculture. To encourage best practices, specialized working groups have been established to foster collaboration among breeders and farmers. Furthermore, the company’s purchasing department is actively working with partners to develop strategies aimed at reducing carbon footprints.
The Life 360 Summit attracted notable figures from the environmental community, including the French minister of ecological transition and territorial cohesion and the European commissioner for environment, oceans, and fisheries. LVMH’s CEO, Bernard Arnault, and his son, Antoine Arnault, who oversees image & environment at LVMH, were also in attendance. This event marked the three-year review of LVMH’s Life 360 plan, outlining objectives pertaining to circularity, traceability, biodiversity, and climate preservation for 2023, 2026, and 2030.
While LVMH remains confident in meeting its 2026 and 2030 goals, the company acknowledges the challenges it faces in achieving zero virgin fossil plastic by 2026. Nevertheless, it is determined to take decisive actions starting this year to work towards this ambitious objective.
LVMH takes great pride in highlighting commendable practices such as its annual repair of 600,000 Louis Vuitton products, the reuse of unsold materials, and its support for regenerative agriculture programs. These initiatives serve as a testament to the company’s resolute commitment to a more sustainable future within the luxury industry.
Overall, the Life 360 Summit exemplified LVMH’s unwavering dedication to environmental causes and its remarkable efforts to encourage sustainable supplier practices. Through its new support plan for suppliers and its unwavering focus on reducing environmental impact throughout the supply chain, LVMH is setting an exceptional example for the luxury industry and striving towards a greener and more sustainable future.
Useful links:
1. LVMH’s official article on the Life 360 Summit
2. LVMH’s Life 360 Plan
