Richemont’s Post

Following LVMH, Kering, L' Oréal, Hermès and all luxury players closing their fiscal year at the end of December, Richemont just released its annual results for its FY 2024 (they close their books at the end of March each year). And they announced strong financial performances, way above these of 2023. Richemont also provides very detailed ESG disclosure (specific report), a great exemple of extra-financial reporting. #Richemont #Luxurysector #FinancialResults

Impressive results!✨🎉 From these results, we can see that Richemont's sales growth came from the Asia Pacific region (+4% at actual exchange rates; +10% at constant exchange rates) and the Jewellery Maisons division and retail channels account for around 70% of the Group's total sales. Additionally, Richemont Group's strongest channel performance was from retail, with 75% of sales coming through Direct to Customer channels. I'm also impressed by Richemont's ESG performance. In Richemont's '2023 ESG Report Highlight', the company had phased out PVC from products and packaging. Furthermore, Richemont has used 97% renewable electricity and has become a member of RE100! Richemont 2023 ESG Report: https://lnkd.in/gPs9bU_N

As #exporeal comes to an end, what were some of the takeaways: 1. The phrase ‘survive till 2025’ was used several times 2. Those with hotels and strong malls were feeling positive, as they had already taken their downturn during Covid 3. Industrial fundamentals are good and a likely first play for many when returning to the market. Resi next followed by retail. 4. ESG is a priority but taking more of a back seat in the short term as firms focus on deals and survival. 5. Q4 2024 will see a return to seasonally high transactions volumes, as a mixture of low supply, rates coming down, positive sentiment and re-pricing all take effect. 6. Being well informed with the right information is crucial as firms look to time the recovery, raise capital and keep investors up to speed.

We are thrilled to announce that Ferragamo has been recognized as one of the "World’s Most Sustainable Companies" for 2024 by Statista and TIME! 🌍   This prestigious ranking honors the top 500 companies globally for their leadership in social and environmental responsibility; we are especially proud to be one of only 20 Italian companies featured.   Our 2024 sustainability achievements include: 👉 Achieving a "Score A-" in the CDP Climate Change 2023 questionnaire. 👉 Being named a Sustainability Leader by Il Sole 24 Ore and Statista for the third consecutive year. 👉 Sourcing 92.8% of our leathers from Leather Working Group certified tanneries. 👉 Utilizing 82% of our energy from renewable sources. 👉 Being re-included in the MIB ESG Euronext index, recognizing the top 40 Italian companies for their ESG practices.   We extend our heartfelt gratitude to everyone who contributed to these accomplishments. Let's continue to lead the way in sustainable luxury. To know more, visit the link: https://lnkd.in/dAxy8_Ag   #SustainableLuxury #LuxuryFashion #ESG #Sustainability

The Fast-Moving Consumer Goods (FMCG) industry plays a significant role in shaping our world. From the products we use daily to the packaging they come in, FMCG companies have a profound impact on the environment, society, and the overall well-being of the planet. However, this influence presents not only challenges but also immense opportunities to contribute to a more sustainable future. #FMCG & #SDGs

Time flies at the Watches of Switzerland Group PLC. Unbelievably, it's been two years since I joined the team, so I set aside my ‘to do’ list to celebrate with a 'tah dah' list!   It’s a testament to my forward-thinking colleagues and agility of our teams, that over the past 24 months, we’ve defined our Purpose, developed our sustainability strategy, measured our scope 3 emissions, had our near-term science-based emissions targets approved by the SBTi, implemented a supply chain management system and developed new supplier standards. We recently participated in the CDP questionnaire on climate change for the second year and are working hard to continually improve in everything we do.   Our Watches of Switzerland Foundation is a tour de force within our local communities and our HR teams have been making significant progress enhancing our data and supporting colleagues by implementing initiatives such as the Real Living Wage.   In short, at the time of this post, the Group holds an MSCI ESG AAA Rating, as well as the top ISS LIVE Quality Scores of “1” for progress against all three Environment, Social and Governance criteria.   Of course, there’s still so much more to do and we can’t be complacent, but we can allow ourselves to be proud of our progress so far.  Here's to continuing to WOW clients, while caring for our colleagues, our communities and our planet; this is our Purpose.

Just a few more days until the Global Fashion Summit on May 22nd, where I'll be discussing Pay Equity Interventions in European Value Chains. Join me right after Her Majesty the Queen of Denmark's opening remarks. Registrations close on May 20th, so don't miss out on learning about the methodologies the fashion sector can implement. Check out more details here: https://lnkd.in/dPteVJkD #gfs2024 #globalfashionsummit #payequity #payequality PwC Italy Global Fashion Agenda

Global supply chains are complex and vast, meaning smaller businesses often miss out on partnerships with large companies due to financial and social disadvantages. We don’t believe it has to be this way. In partnership with L'Oréal, we are supporting the transformation of their procurement process to create a more inclusive and sustainable supply chain that offers underrepresented and disadvantaged communities new opportunities, access to living wages and ongoing support. Read more about how we are supporting L’Oréal’s sustainable sourcing programme here https://lnkd.in/enxbh-bH #SupplyChainManagement #SustainableProcurement #Sustainability #Inclusivity #SupplyChain #ESG #MarketingExecution

The World Benchmarking Alliance have just released the first ever Social Benchmark, assessing the world’s 2,000 most influential companies (SDG2000) on their responsibility to meet society’s fundamental expectations towards respecting human rights, providing decent work, and acting ethically.   While the overall average of all 2,000 companies is low at 23%, some sectors on average perform relatively better:   33% Apparel & Footwear 30% ICT 28% Retail   All regions except for Central Asia are represented in the top-performing 10% of companies. Just over half of these top 10% of companies are based in Europe, with 39% based in North America, 27% based in East Asia and the rest distributed across the remaining regions. The average total scores range from 35% in the Pacific to 11% in MENA. Top performing companies in these regions are:   🌍 The Pacific - Coles Group and Woolworths Group, both scoring 13 points out of 20 possible points.  🌍 Europe - EDP, Glencore, Unilever and Yara International, all scoring 15.5 points out of 20 possible points.  🌍 North America - The Hershey Company, VF Corporation, Newmont Corporation and Teck Resources Limited Resources, all scoring 15 points out of 20 possible points.  🌍 Asia - Wilmar International from Singapore, with 14.5 points out of 20 possible points.  🌍 Middle East & North Africa (MENA) - OCP Group from Morocco, with 14.5 points out of 20 possible points. Read more here: https://lnkd.in/gnkr7Rqp Thank you to the WBA research team for such a fantastic report! Melinda George Deleuze, Jill van de Walle, Sarah Bradbury, Ratih Dewi, Viviana Conti, Sanjini Jain, Marina Minju Vigne, Namit Agarwal, Sofía del Valle Trivelli, Rachel Leung, Annabel Mulder, Talya Swissa, Richard Gardiner and Nicolas Sauviat. #wba #socialbenchmark2024 #bizhumanrights #leavenoonebehind #SDGs #corporateaccountability #esg #sustainability

The World Benchmarking Alliance's release of the first Social Benchmark evaluates the world's 2,000 most influential companies (SDG2000) on their commitment to human rights, decent work, and ethical practices. So many areas for impactful development and opportunities. ESG Metrix® can assist companies in aligning their ESG efforts to these critical areas, providing tools and insights to enhance transparency and meet societal expectations. Contact us to learn more! #humanrights #decentwork #ethicalbusiness #esgreporting #sustainabilityreporting #SDGs