French luxury group PPR, the company behind Gucci, Stella McCartney and Alexander McQueen, has launched a new sustainability initiative to help reduce its impact on the environment.
The initiative, called PPR Home, has been allocated an annual budget of €10m (£8.7m) to invest in sustainability iniatives, including researching best-practice strategies. It will be led by Jochen Zeitz, chief sustainability officer.
PPR Home focuses on four different areas: Leadership, which encourages a shift in the way of thinking both internally and externally; Humanity, which aims to enhance the social, economic and environmental well-being of those working with PPR; Ecology, reducing PPR’s environmental footprint; and Creativity, which aims to create sustainable solutions to support global sustainability.
PPR Home has already launched a Creative Sustainability Lab initiative to help cultivate creativity, innovation and sustainability. The first partnership will be with eco-label certification Cradle-to-Cradle.
PPR-owned sportswear brand Puma will measure the cost of its ecological footprint and eco-system services with an environmental profit and loss account under the new scheme.
PPR chief executive Francois-Henri Pinault said: “My deep conviction that sustainability creates value is part of my strategic vision for PPR. Sustainability can – and must – give rise to new, highly ambitious business models and become a lever of competitiveness for our brands. PPR Home will provide us with novel, more sustainable approaches to contribute to a better world for the long run.”