The luxury group has unveiled its 2022 report on corporate social responsibility and detailed its actions over the past year.
Capri Holdings Limited, the luxury group that owns Versace, Jimmy Choo and Michael Kors, has released its 2022 Corporate Social Responsibility (CSR) report, highlighting its work on environmental sustainability, climate change, human rights, diversity and inclusion, and philanthropy in the 2022 financial year.
“Capri Holdings is a deeply driven company. Whether it’s doing our part to foster a more resilient environment, promote diversity and inclusion or give back to those in need, Capri cares about the planet and its people. It is this goal that drives us to pursue our CSR objectives with even greater intention,” notes John D. Idol, president and CEO of Capri Holdings, before adding, “We are pleased with the progress we have made over the past year and look forward to continuing to share in the work our Capri community is doing to care for the world around us.”
On governance, the company has completed an updated environmental, social and corporate governance (ESG) materiality assessment, reports 62.5% women and 25% people of colour on the board of directors and announces that 10% of annual executive incentive compensation will be tied to individualised ESG goals starting in 2023.
On the climate front, Capri Holding has approved greenhouse gas (GHG) emission reduction targets through the Science Based Targets (SBTi) initiative. It has also reaffirmed its commitment to renewable energy through the Fashion Pact’s collective virtual power purchase agreement (CVPPA).
For the manufacture of its products, 91% of the leather used is now sourced from tanneries certified to the highest environmental standards and the company is adopting a system of circularity through repair and remarketing initiatives.
On the community front, the company scores 90/100 on the Human Rights Campaign Foundation’s Corporate Equality Index and is certified in the US as a Great Place to Work®. The group also supports a scholarship programme through the Capri Holdings Foundation for the Advancement of Diversity in Fashion, aimed at creating meaningful opportunities in fashion for historically underrepresented communities. Finally, he joined Empower@Work, an organisation dedicated to empowering women workers, integrating gender equality into business practices, and driving systems change in global supply chains.
Finally, in terms of philanthropy, the group has donated over 30 million meals to date through the Michael Kors Watch Hunger Stop philanthropy campaign and has invested $10 million in the Versace Foundation to support the LGBTQIA+ community.
The group also supported Women for Women International through the Jimmy Choo Foundation and contributed to relief efforts for people displaced and suffering due to the war in Ukraine.
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Featured photo : © Versace
