World leader in luxury group LVMH will invest more to improve its environmental credentials. The group is taking steps such as raising the share of leather goods sourced from strictly monitored tanneries to 70 per cent by 2020. LVMH owns the fashion house Louis Vuitton and champagne brand Moët & Chandon among its 70 businesses. Its companies contribute €30 to an in-house carbon fund for every ton of Co2 emissions they generate from 2018. Those funds are then earmarked for insulating buildings and other projects.
Fashion businesses are seeking to reassure shoppers who are increasingly drawn to eco-friendly brands. In an industry that has drawn flak for cruel or wasteful practices, including some companies embroiled in animal abuse scandals, many luxury houses are trying to improve their image. Beyond tightening standards on the way some materials are sourced, including the leather used for handbags, companies are also running the rule over everything from packaging to the type of energy-saving light bulbs used in their stores. Consumers have become more sensitive to how clothes and accessories are made, with some fast fashion companies coming under fire for exploitative working conditions or the use of fabrics that encourage pollution.
