Kering and LVMH push sustainability in luxury fashion

François-Henri Pinault, CEO of Kering, announced a ten-year plan concluding in 2025 to cut carbon emissions by 50% and reduce environmental impact from raw material processing by at least 40%, aligning with UN guidelines. He argued that authenticity is central to luxury and that consumers penalize brands indifferent to environmental issues, calling sustainability an absolute necessity. Competitor LVMH pursues similar goals through its LIFE initiative. Pinault noted that investors, who prefer terms like risk management and brand reputation, also drive this shift, linking global warming to volatility in raw material prices like cotton and leather. In Italy, the Ministry and ICE support scouting and tutoring young designers, while Rome, Milan, and Florence create buyer contact opportunities. Former Prime Minister Renzi dined with Milan fashion leaders each season; current Minister Calenda pledged tens of millions of euros, stating money is not the problem, projects are.