The Italian luxury company pledged Wednesday to donate 1 million renminbi, or $143,400, to the Chinese Red Cross Foundation to alleviate the shortage of medical supplies.
“My heart goes out to those affected by the coronavirus and their families,” said Donatella Versace, the brand’s chief creative officer. “We are sending our love and support and I urge everyone to help by donating to groups on the ground that assist those in need.”
Versace’s parent company Capri Holdings Ltd. on Wednesday said the virus is expected to reduce this quarter’s revenues by $100 million as the outbreak continues to spread.
As reported, a number of other luxury companies have made donations over the past two weeks.
LVMH Moët Hennessy Louis Vuitton has pledged 16 million renminbi, or $2.3 million, to the Chinese Red Cross Foundation to help alleviate the urgent medical supplies shortage in Wuhan. In addition, the luxury conglomerate said it would help to obtain and provide important medical supplies from France and throughout Europe via the foundation.
Kering also made a 7.5 million renminbi, or $1.08 million, donation on behalf of its 13 fashion and luxury brands to the Hubei Red Cross Foundation. “Our thoughts are with the many impacted by the novel coronavirus outbreak, and therefore we have decided to donate the funds as an immediate contribution to assist,” said François-Henri Pinault, chairman and chief executive officer of Kering, told WWD.
Chinese e-commerce and fashion companies are offering help to fight the outbreak. Alibaba set up a 1 billion renminbi, or $144 million, fund, while Tencent, the owner of WeChat, has donated 300 million renminbi, or $43.25 million.
Other businesses donating for the cause include beauty companies L’Oréal; the Estée Lauder Cos. Inc. and Shiseido Co. Ltd., as well as jewelry brand Swarovski.