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According to the Sustainable Index 2022, unveiled yesterday by Business of Fashion, the luxury group Kering remains at the top of the luxury brands in the world, thanks in particular to its social and environmental commitments.
In order to establish its annual ranking, the Business of Fashion Sustainable Index 2022 analyses publicly available information on companies in three categories: luxury, sportswear and consumer fashion.
Sustainable development, a priority for Kering
Last year’s leader, Kering, comes in second place in the ranking just after sportswear brand, Puma. However, Kering remains ahead of its competitors in the same sector. Levi Strauss, H&M and Burberry, which appear for the first time in this ranking, complete the podium.
Kering has placed sustainable development at the heart of its convictions in its strategy, and it is a source of inspiration and innovation for the group and its Houses. François-Henri Pinault, CEO of the Kering Group, declared that “luxury and sustainable development are one and the same”.
Care, Collaborate, Create are the three major pillars that structure Kering’s sustainable development strategy for 2025. The objective is to shape the luxury of tomorrow by respecting people and preserving natural resources through transparency, sharing and continuous improvement.
Kering has also developed an innovative tool to quantify the environmental impacts of its activities : the EP&L (Environmental Profit & Loss). These commitments are now paying off for the French group.
Fashion, an industry lagging behind
According to the Business of Fashion report, the fashion industry is falling behind on its social and environmental commitments. It is at risk of not meeting the major commitments of the Paris Agreement and the 17 UN Sustainable Development Goals (SDGs).
“There are a few frontrunners who are making small steps forward, but overall the industry is extremely underperforming,” Sarah Kent, who covers sustainability at Business of Fashion, commented to Reuters. “We don’t see evidence of the deep transformations the sector would need over the next eight years to meet the goals of the Paris Climate Agreement” and the UN’s 2030 SDGs, she says.
As a reminder, the main objective of the Paris Agreement is to reduce greenhouse gas emissions in the European Union by at least 40% by 2030 compared to 1990 levels. The Sustainable Development Goals were adopted by the United Nations in 2015. They aim to act to eradicate poverty, protect the planet and ensure that all people live in peace and prosperity by 2030.
“This is a huge challenge for fashion business leaders: how do you satisfy your shareholders and demonstrate that you can continue to drive financial growth without continuing to produce more, and therefore extract more (raw materials) and therefore produce more waste?” asks Sarah Kent.
Read also > THE FASHION AND LUXURY INDUSTRY GIVES A GENERALLY POSITIVE ASSESSMENT OF THE FIRST MACRON QUINQUENNIUM
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L’expert du travel retail TFWA améliore et affine le développement de sa plateforme numérique : TFWA 365.
À l’occasion du salon TFWA World Exhibition & Conference en octobre dernier, le Président de TFWA avait annoncé le lancement d’une plateforme dédiée aux professionnels du duty free et du travel retail
Cette plateforme est une ressource unique, permettant aux professionnels du secteur de découvrir les derniers développements du marché et les stratégies innovantes. Elle permet également de créer des réseaux avec leurs pairs et de découvrir les tendances clés qui animent le marché mondial du travel retail, à la fois pendant les événements TFWA et tout au long de l’année.
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