- Angela Gonzalez-Rodriguez |
New York – The expanding shadow of a global epidemic caused by the coronavirus outbreak originated in Wuhan, China, is seeing multiple ramifications beyond the actual health threat. China and the neighbouring countries constitute the largest expansion market for luxury brands worldwide.
In order to contribute to palliating the rapidly spreading coronavirus outbreak, several global fashion and luxury goods companies are stepping up and donating funds to fight the contagious virus. LVMH Group has donated 2.3 million dollars to the cause while Kering Group has provided another 1 million dollars.
Global fashion and luxury brands unite to fight coronavirus
“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,” François-Henri Pinault, Kering’s CEO, told ‘WWD’.
Other major companies are also doing their part to combat the outbreak. L'Oreal has given 720,000 dollars to the cause, Swarovski contributed 430,000 dollars and Estee Lauder and Shiseido plugged in another 290,000 dollars each. Meanwhile, Chinese fashion champions Alibaba and Tencent have donated 144 million dollars and 43.25 million dollars respectively, as reported by Thailand’s edition of ‘Tatler’ magazine.