Fashion Giants LVMH And Kering Pledge Donations To Help Fight Coronavirus
More than $2 billion will be donated to the cause
January 29, 2020
In response to the spread of the coronavirus, fashion companies like LVMH and Kering are coming together to pledge their major donations to help fight the disease.
LVMH, which owns luxury brands such as Louis Vuitton, Dior, Fendi and Celine, has donated $2.3 million toward the fight. While Kering, Gucci‘s parent company, has pledged more than $1 million for the cause. “Our thoughts are with the many impacted by the novel coronavirus outbreak, and therefore we have decided to donate the funds as an immediate contribution to assist,” François-Henri Pinault, Kering’s CEO, told WWD.
Luxury jewellery brand Swarovski has also come forward to help in donations, contributing nearly half a million dollars to help in fighting the disease.
Versace has also come forward to pledge RMB 1 million to the Chinese Red Cross Foundation to support the Coronavirus relief efforts and to help alleviate the urgent medical supplies shortage.
Collectively, the companies and businesses, which include sportswear manufacturer Anta and e-commerce giant Alibaba, have amassed about $2.8 billion to help fight the contagious virus. The funds will go directly to the Chinese Red Cross Foundation in Hubei province, where Wuhan is the capital.