Corporate social responsibility in the luxury industry in France - statistics & facts
In 2020, the coronavirus (COVID-19) outbreak in France negatively affected many economic sectors, including the luxury industry. Torn between ostentation and craftsmanship traditions, luxury companies face many challenges in order to find their place in a post-pandemic world. Indeed, the crisis has further emphasized consumers’ demand for social and environmental commitment from corporations. For some, it was the occasion to showcase solidarity. In March 2020, the LVMH Group announced that they would produce and distribute free hydroalcoholic gel to hospitals. Similarly, Chanel’s garment workers manufactured face masks that they donated to frontline workers. Nevertheless, beyond symbolic gestures, structural change is expected from luxury groups that are progressively implementing corporate social responsibility (CSR) strategies.
The reduction of greenhouse gas emissions is one of the environmental topics that seems to be increasingly institutionalized in the industry. Since 2011, the Kering Group has been carrying out an annual offsetting approach and committed to achieve full carbon neutrality across its supply chain in 2020. In 2016, the LVMH Group even launched its own Carbon Fund.
When it comes to diversity and equality, the main French luxury groups seem to have made efforts towards a more equal gender representation. The bill regarding gender balance on company boards that was passed by the French Parliament in 2011 might have facilitated this development.
Environment, responsible consumption, social issues: what commitments did luxury brands make?
There was a time when the use of fur was the only controversial topic regarding luxury. However, today, companies’ CSR policies are expected to cover a wide range of topics, from environmental protection to working conditions and diversity among the workforce.The reduction of greenhouse gas emissions is one of the environmental topics that seems to be increasingly institutionalized in the industry. Since 2011, the Kering Group has been carrying out an annual offsetting approach and committed to achieve full carbon neutrality across its supply chain in 2020. In 2016, the LVMH Group even launched its own Carbon Fund.
When it comes to diversity and equality, the main French luxury groups seem to have made efforts towards a more equal gender representation. The bill regarding gender balance on company boards that was passed by the French Parliament in 2011 might have facilitated this development.
