Corporate social responsibility in the luxury industry in France - statistics & facts
In 2020, the coronavirus (COVID-19) outbreak in France negatively affected many economic sectors, including the luxury industry. Torn between ostentation and craftsmanship traditions, luxury companies face many challenges in order to find their place in a post-pandemic world. Indeed, the crisis has further emphasized consumers’ demand for social and environmental commitment from corporations. For some, it was the occasion to showcase solidarity. In March 2020, the LVMH Group announced that they would produce and distribute free hydroalcoholic gel to hospitals. Similarly, Chanel’s garment workers manufactured face masks that they donated to frontline workers. Nevertheless, beyond symbolic gestures, structural change is expected from luxury groups that are progressively implementing corporate social responsibility (CSR) strategies.
