Our Group has a long-standing commitment to doing business responsibly. We know that there is always more to do regarding such corporate and industry-wide sustainability efforts and strive to improve each year.
Our ‘Movement for Better Luxury’ is supported by four focus areas: People, Sourcing, Environment and Communities - each of which has an owner at Group level and a series of commitments. These four areas are driven by strong governance, active engagement and continuous innovation in materials and processes.
The strategy development process included research of the external environment, current and future trends as well as expectations of key stakeholders. Our recent materiality update (see Materiality Matrix below) has also informed its development, highlighting key risks and opportunities across our value chain. We also engaged deeply with senior business leaders, functional and Maison representatives as well as the CSR Committee to develop appropriate priority areas and commitments. Our Transformational Strategy combines three levels of ambition over the short, medium and long term, providing our Maisons with greater flexibility on how to achieve their goals.
How we manage strategic and operational risks and opportunities across the business, including sustainability, sourcing and supply chain
Discover how our Maisons, Regions and Functions are implementing our Movement for Better Luxury:
How we enhance the sustainability of our products and processes, and the skills and employability of our people
Beyond customer-centric needs and corporate responsibility, we believe that sustainability is an opportunity to invent new, differentiated products and new client experiences.
How we proactively engage with our stakeholders, taking their interests into account to guide our strategy
Engagement is cross-cutting for each focus area: People, Communities, Sourcing and Environment. For those focus areas to achieve their commitments, a high degree of stakeholder engagement is required.
Sustainability report 2021
Our Sustainability report 2021 demonstrates how we are meeting our commitments and describes how we manage our social, ethical and environmental impacts. As a responsible luxury goods company, we seek to improve lives across all points in the luxury value chain.
Highlights from the year include creation of a Governance and Sustainability Committee of the Board and the recent submission of our Science Based Targets to reduce greenhouse gas emissions in line with the Paris Agreement.
In addition, our Maisons have engaged proactively with WWF, the world's leading independent conservation organisation, in its review of leading Swiss watch and jewellery companies.
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