PARIS — French retail-to-luxury firm PPR on Monday unveiled a new sustainability initiative that it says will revolutionize the way it does business by requiring the company’s brands to not only do less harm, but to generate social and environmental benefits in the long run.
PPR chief executive officer François-Henri Pinault and PPR chief sustainability officer Jochen Zeitz said the “PPR Home” plan will be endowed with an initial annual budget of 10 million euros, or $14.2 million at current exchange rates, whose evolution will be indexed to the firm’s dividends.
“PPR Home is our group’s contribution to a better world, by developing innovative and sustainable initiatives for our different economic models that rely on our creativity and our imagination in order to influence our lifestyles and inspire others to follow us in the long term,” Pinault told a news conference in Paris.
The project’s inaugural measures are:
• The launch of the Creative Sustainability Lab, a partnership with Cradle to Cradle that will focus on developing products and retail pilots that integrate and apply objectives such as environmental and social concerns for PPR’s luxury labels — including Gucci, Yves Saint Laurent and Balenciaga — and sporting goods firm Puma.
• The complete offset of the carbon dioxide emissions generated in 2010 by PPR’s luxury group, Puma and PPR’s headquarters, evaluated at 98,729 tons, through the purchase of carbon credits from San Francisco-based company Wildlife Works’ Reduced Emissions from Deforestation and Degradation (REDD) offsetting project in Kenya. By comparison, PPR estimated its total CO2 emissions across all divisions in 2009 at 452,492 tons.
• Puma’s upcoming publication of what it claims is the world’s first environmental profit and loss (EP&L) account statement, as a first step toward measuring the full environmental impact of the activities of Puma and its suppliers.
Zeitz said PPR Home would employ some 15 people full time and consult with other experts. Its initiatives and investments will be evaluated according to a clear set of criteria, and it will publish its first targets and outcomes in October. These will integrate and expand upon the first targets published by PPR in June 2010 as part of its corporate social responsibility drive.
Puma will present its first EP&L statement in tandem with the publication of second quarter results on July 27. Zeitz said he expected they would initially tally carbon and water use, widening eventually to take into account social variables.
Zeitz, who heads PPR’s sport and lifestyle group and recently handed over the reins as ceo of Puma, said the activewear giant will launch a line in 2012 produced in conjunction with Wilderness Holdings Ltd., a company dedicated to eco-tourism and nature conservation in which Puma bought a 20.1 percent stake last year.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)