The latest luxury industry news shows that In the wake of the Coronavirus crisis that is gripping the world, luxury brands are stepping up to help make a difference. Many of the world’s most covetable brands are making donations to charitable causes, or even switching up their production lines. Here’s just a few examples of luxury brands doing good in the fight against Covid-19.
Louis Vuitton Moët Hennessy Group
The most recent luxury industry news saw LVMH Group, owner of a portfolio of luxury brands including Christian Dior, Givenchy, and Louis Vuitton, announced that it has scaled down production on its fragrance line. Instead, the group’s perfume factories are now making bottles of hand-sanitizer. The LVMH coronavirus hand sanitizer gel will be donated to French health authorities, to help in the ongoing battle against Covid-19. Since the outbreak of Coronavirus, panic buying has led to a worldwide shortage of hand sanitizer, which is especially crucial for healthcare officials working on the front-line of the pandemic. LVMH has also donated some US$2.3 million to the Chinese Red Cross Foundation.
The luxury Italian fashion brand Giorgio Armani has donated some 1.25 million euros to a range of Italian hospitals and institutions that are dedicated to fighting Covid-19. Hospitals in both Rome and Milan will benefit, both of which are struggling to cope with the number of patients suffering from symptoms such as severe respiratory problems. The donation will also be used to assist Protezione Civile, Italy’s civil defence.
Luxury industry news reports that Bulgari has made a donation to Rome’s Istituto Lazzaro Spallanzani research department. The Italian hospital specialises in infectious diseases and its medical teams were one of the first to isolate the DNA of Covid-19. The donation, which enabled the hospital to purchase a cutting-edge microscopic image acquisition system, will help with critical on-going research, including the development of an effective vaccination.
French conglomerate KERING Group, which owns 13 luxury brands including Gucci, Bottega Veneta, and Alexander Mcqueen, has donated some 2 million euros to the Hubei Red Cross Foundation, which is working at the epicentre of the outbreak. According to reports, the Chinese province detected its first case in mid-November 2019. Since then, China has seen more than 80,750 confirmed cases, of which more than 3,000 died.
The latest luxury industry news states that Italian fashion brand has donated six complete intensive care and resuscitation units to hospitals in Milan, including the children’s hospital Vittore Buzzi. The death toll in Italy currently stands at more than 2,150, with over 24,000 infected. The area around Milan is one of the hardest-hit parts of Italy. Due to the shortage of medical equipment, including intensive care and resuscitation units, doctors are being forced to make difficult decisions as to who to prioritise treatment to.
Dolce and Gabbana
Italian fashion label Dolce and Gabbana are helping to fund coronavirus research. The luxury brand made a donation to Humanitas University, a private Italian university that is dedicated to medical science, to help fund a study that aims to clarify the responses of the immune system to the virus.
Domenico Dolce and Stefano Gabbana said in a statement. “We felt we had to do something to fight this devastating virus, which started from China but is threatening all mankind. In these cases, it is important to make the right choice. This is why we thought Humanitas University would be the ideal partner. Supporting scientific research is a moral duty for us, we hope our contribution will help to solve this dramatic problem.”
The family owners of Ferrari – the Agnelloi family – have donated 10 million euros to help tackle coronavirus. The donation will go to the Italian Civil Protection Department, as well as Specchio dei Tempi/La Stampa, an Italian social assistance organisation working in some of the hardest hit areas of Italy. The latest luxury industry news also states that the family’s group of companies, which as well as Ferrari also includes the FIAT Chrysler company, has also sourced and purchased 150 ventilators, alongside other medical equipment that is vital in treating patients affected by coronavirus. Finally, the family has provided the Italian Red Cross and the Italian National Association for Public Assistance with a fleet of vehicles, to aid in the distribution of food and medicine to those in need across Italy.
“Milan is a city that has given us all an extraordinary time. We cannot and must not abandon it. It is everyone’s duty to give back to the city that has given us so much,” Remo Ruffini, Moncler CEO and Chairman said in a message posted on LinkedIn. The message is one of the latest luxury industry news posts from Moncler, a luxury apparel brand famed for its down jackets. The LinkedIn message also included details that the brand has donated 10 million euros to help support the construction of a hospital with 400 intensive care units.
When the world is left in complete disarray, it’s comforting to see in the latest luxury industry news that some of the biggest brands are stepping up to help make a difference.