A vast majority of luxury and retail top players had formerly joined it. Last August, when they presented the Fashion Pact, signatories amounted to 32. Yet, now Mr François-Henri Pinault, president and chief executive officer of Kering group, as well as promoter of the project, endorsed by French President, may well rejoice. In fact, 24 more holding companies have joined his initiative, which aims at a sustainable reform of fashion industry. Therefore, represented brands right now amount to 250.
The newcomers
In accordance with the Fashion Pact across-the-board representative identity, the latest signatories come from all segments and from the whole industry, which consists of manufacturing, design and supply. Among others, Bally fashion brand and Eram footwear, El Corte Inglés traditional retailer and Farfetch digital retailer joined the pact. As well, some textile groups, which seldom entered the world of leather, have taken part in the project: for example, Calzedonia (recently attacked by animal-rights activists because of a leather top made by Intimissimi).
Road Map
It is not just a matter of undersigning though. While LVMH keep working, simultaneously, on their LIFE project, Fashion Pact promoters have just met up in Paris to talk about forthcoming tasks and duties. “During this early operational stage – Kering group announced in their press release – we have been addressing a few issues about the Fashion Pact governance and the work organization between the coalition members; on top of that, we have also focused our efforts on tangible goals, following the signatories’ undertakings”. They are going to meet up again in September 2020: by that time, companies engaged in the project will submit their first report on what they have done so far.
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