Ukraine crisis: Luxury conglomerates donate to relief efforts
LVMH, the owner of Louis Vuitton and Dior, has pledged €5 million (S$7.5 million) to the crisis while Kering, owner of Gucci, Balenciaga and Bottega Veneta said it would be making a “significant donation”.
Global luxury giants are speaking out against the Ukrainian invasion. On Mar 2, Kering, the owners of Gucci, Balenciaga, Saint Laurent and Bottega Veneta, said that it would be making a “significant donation” to help refugees who have fled the country and are now displaced.
“In order to contribute to humanitarian efforts to bring aid
and support to Ukrainian refugees, Kering will make a significant donation to
the UNHCR, the United Nations Refugees Agency,” the company announced on
Instagram. “We hope for a peaceful resolution of this conflict.”
Speaking to US publication WWD, Francois-Henri Pinault, CEO
of Kering, said that brands will also be making their own individual donations.
Gucci has donated US$500,000 (S$678,000) to the UNHCR, while
Balenciaga has donated an undisclosed sum to the World Food Programme (WFP).
Balenciaga has also wiped out its social media channels, dedicating it to the
cause. “We stand for peace and donated to WFP to support first humanitarian
help for Ukrainian refugees. We will open our platforms in the next days to
report and relay the information around the situation in Ukraine. Follow the
link in bio to donate now,” read the only post left on the brand’s Instagram
page.
Moet Hennessy Louis Vuitton (LVMH), the owner of Dior, Louis
Vuitton, Fendi and Tiffany and Co, has also taken a stand. On Mar 2, the group
shared a statement of support for victims of the war and announced that it
would make a “first emergency donation” of €5 million (S$7.5 million) to the
International Committee of the Red Cross (ICRC) to help direct and indirect
victims of the conflict.
The group is also launching a fundraising campaign in
support of the ICRC to facilitate the contributions of employees across the
group and its 76 brands. “The LVMH Group is closely monitoring the tragic
situation in Ukraine and stands alongside all those severely affected by this
war. The group’s first concern is the safety of its 150 employees in Ukraine
and is providing them with essential financial and operational assistance,”
LVMH said in its statement.
Other brands that have rendered support include British
fashion house Burberry. The company said in a statement that it is donating to
the British Red Cross Ukraine Crisis Appeal, “which is working to provide
urgent aid, food, warm clothes and shelter to communities in desperate need”.
Meanwhile, key players across the automotive industry have
taken action. Aston Martin and BMW have announced that it will pause exports
and sales of cars to Russia. Mercedes-Benz has announced that it will donate €1
million to support those affected by the crisis. "For what matters most:
peace," read a post on the brand's Instagram.
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