Kering is proving that ethical fashion isn’t a paradox. This morning at the World Economic Forum in Davos it was revealed that the company is second overall on the Corporate Knights’ 2019 Global 100 Index, which is a ranking of the world’s most sustainable corporations. Additionally, Kering is the highest-ranking company in the luxury, and apparel and accessories sectors for the second year in a row.
“We are proud to be recognized as the most sustainable company in the luxury sector and in apparel and accessories,” said Marie-Claire Daveu, Chief Sustainability Officer and Head of international institutional affairs at Kering. “We are also pleased to have placed second across all industries. This reflects our dedication and perseverance to embed sustainability best practices across our business activities and it also acts as a ‘proof of concept’ that a business can achieve financial success while delivering positive social and environmental outcomes.”
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Kering has been making a significant effort to be more environmentally conscious. Just last October it partnered with Supima and Albini Group to provide organic cotton to its brands. All the hard work has very clearly made a difference at the company. Last year it only ranked 47 on the list.
The Corporate Knights’ Global 100 rating index looked at 7,500 companies generating $1 billion or more in revenue. Its analysis spans 21 “key performance indicators,” including clean revenue and supplier performance, as well as the management of resources, employees, and finances. There are several companies in fashion working on becoming more sustainable and ethical. The CFDA even launched an initiative recently to help American designers change how they do business. With the industry clearly eager to making a change, it seems hopeful that more apparel and accessories companies will make it to the top-100 soon.