COVID-19: Moncler donates more than S$15 million to hospital in Milan
The luxury ski brand's contribution will be used to aid the building of a new hospital in Milan for patients affected by COVID-19.
In Italy, the city of Milan and the Lombardy region are one of the hardest hit areas of the coronavirus outbreak. Hospitals are in crisis, and Lombardy region governor Attilio Fontana has described the situation as "getting worse".
To cope with the crisis, a new hospital dedicated to patients affected by COVID-19 is being set up in the former fairgrounds in Milan, and help is pouring in from luxury ski brand Moncler. The house has announced a donation of €10 million (S$15.7 million) to the project.
Once completed, the hospital, measuring 270,000 sq. ft. (25,000 sqm), is expected to feature more than 400 intensive care units.
"Milan is a city that has given us all an extraordinary time. We cannot and must not abandon it. It is everyone’s duty to give back to the city what it has given us so far," Remo Ruffini, Chairman and CEO of Moncler, said in a statement.
Italy’s former prime minister, the billionaire media tycoon Silvio Berlusconi, has also donated €10 million to the project.
"Milan is a city that has given us all an extraordinary time. We cannot and must not abandon it. It is everyone’s duty to give back to the city what it has given us so far." – Remo Ruffini
According to the Financial Times, Moncler is the second most profitable fashion brand after Hermes in terms of operating profit, based on full year results.
The brand has benefited from an innovative strategy involving seasonal fashion collections and monthly collaborations with guest talents and fashion labels, dubbed the Moncler Genius project. Collaborators include Valentino's Pierpaolo Piccioli, JW Anderson and Simone Rocha.
Moncler's philanthropic effort in the building of a hospital in Milan demonstrates how the brand is putting its success to good use, at a time when businesses are uniting to fight against the pandemic.