trending Market Intelligence /marketintelligence/en/news-insights/trending/Wr-r4BHf2henAIWeOj1D_g2 content esgSubNav
In This List

Kering's Gucci abandons use of fur, but others may not follow suit


Christopher & Banks Corporation – tracking the early-warning signals of credit risk


Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future


Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch


Infographic: Key questions when assessing an Alternative Investment Funds (AIFs) creditworthiness

Kering's Gucci abandons use of fur, but others may not follow suit

An animal protection group described Gucci's disclosure Oct. 11 that it would no longer use animal fur in its products as "a game-changer" for the luxury fashion industry, but other companies may not be so quick to follow the Italian brand's example.

In response to an emailed request to clarify its fur policy, French luxury goods group LVMH Moët Hennessy Louis Vuitton SE reiterated the statement included in its 2016 environmental report.

"LVMH shares the aim of improving animal well-being with civil society, and is the source of significant progress," LVMH said. "Accordingly, LVMH took part in drafting the new version of the [Business for Social Responsibility's] "Animal Sourcing Principles" in 2016; this document sets out general principles focusing on animal well-being in supply chains. It is gradually being shared with all the suppliers concerned."

Compagnie Financière Richemont SA, whose brands include Cartier and Chloé, did not immediately respond to an emailed request for comment.

Florence, Italy-based Gucci, owned by Kering SA, will stop using, promoting or publicizing animal fur starting from the spring-summer 2018 collection, it said in a statement Oct. 11. It will no longer use mink, coyote, raccoon, dog, fox, rabbit, karakul, and all other species bred or caught for fur. Gucci CEO Marco Bizzarri made the announcement at the London College of Fashion, where he discussed the future of sustainable fashion during an event held by the college and Kering.

As part of the commitment to becoming fur-free, Gucci has joined the Fur Free Alliance, which comprises 40 animal protection organizations working to end the exploitation and killing of animals for fur.

"Being socially responsible is one of Gucci's core values, and we will continue to strive to do better for the environment and animals," Bizzarri said in a statement, adding that "Gucci is excited to take this next step and hopes it will help inspire innovation and raise awareness, changing the luxury fashion industry for the better."

Gucci will join a string of other luxury brands that have dropped animal fur from their offerings, including Hugo Boss AG, YOOX Net-A-Porter Group SpA, and Stella McCartney, another Kering brand.

"Gucci's new fur-free policy marks a game-changer for the whole luxury fashion industry to follow," chairman of the Fur Free Alliance Joh Vinding said in a statement. "Gucci is taking a bold stand for animals, showing the world that the future of fashion is fur-free."

The company will also become a part of the Fur Free Retailer initiative run by the Fur Free Alliance, which offers consumers information about a retailer's fur policy. Currently, 816 retailers participate in the program, including nonluxury brands such as Marks and Spencer Group plc as well as Industria de Diseño Textil SA's Zara and Pull&Bear.

Article amended on Oct. 12 at 12:50 p.m. EST to more clearly present information related to the anti-fur issue.