LVMH, Kering and Swarovski donate more than S$5m to combat novel coronavirus
The two luxury conglomerates and the jewellery company have pledged donations to help curb the spread of the disease, collectively contributing more than S$5 million to the cause.
Bernard Arnault, CEO of LVMH. (Photo: AP Photo/Thibault Camus)
As the novel coronavirus continues to spread in China and worldwide, fashion’s largest corporations have pledged major donations in a bid to help combat the deadly disease.
According to WWD, rivals LVMH and Kering, as well as jewellery brand Swarovski, are among the luxury market players that have stepped up to support the fight against the disease.
LVMH, a frequent donor to global issues, announced that it would donate 16 million yuan (S$3.1 million) to the Chinese Red Cross Foundation to help with shortage of medical supplies in Wuhan. In addition, the conglomerate also stated on the LVMH China website that it would help obtain medical supplies from France and Europe.
Meanwhile, rival Kering has pledged almost 7.5 million yuan (S$1.5 million) to the Hubei Red Cross Foundation. Francois-Henri Pinault, CEO of Kering, told WWD, “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.”
“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.” – Francois-Henri Pinault
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Jewellery brand Swarovski has donated around 3 million yuan (S$587,000). Together, the three groups have donated more than S$5 million.
As of Jan 29, there are a total of 5,974 confirmed cases of the coronavirus in China. The death toll in the country has risen to 132. In order to curb the spread of the disease, several cities in China have been shut down. In Singapore, a total of seven cases have been confirmed.
