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.
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion
“I’m Russian and I love to use all these little tricks that I got from my grandma or my mom. We didn’t have a lot of money for creams or anything like that so we would use a garden as a beauty treatment regime. We’d put cucumber in the fridge and do a cucumber mask,” says model @irinashayk on one of her beauty hacks. WWD asked celebs what their go-to self-care rituals are. See what Naomie Harris, Freida Pinto and more said on WWD.com. #wwdeye #wwdbeauty (📷: @zefashioninsider)
Exclusive: @viktorandrolf are teaming up with @Zalando on a collection made from leftover clothing. The lineup, which lands at the retailer February 1, includes 17 pieces adorned with sliced up and repurposed overstock from the retailer’s private label collection. Pictured here is a look from the collection –– see more on WWD.com. #wwdfashion #wwdnews
@duewestnyc is the newest bar joining the collection of intimate neighborhood-focused spaces in the West Village. The cocktail menu, which includes bitters and syrups made in-house, offers a “Build Your Own Old-Fashioned” – like the one pictured here – where guests can choose from a list of spirits and unexpected sugars and bitters. #wwdeye
Spotted at last night’s National Board of Review gala in NYC: Angelina Jolie. Jolie – along with Meryl Streep, @lupitanyongo and more – continued the all-black dress code from Sunday’s Golden Globes. #wwdeye (📷: @lexieblacklock)