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Philanthropy in Fashion

A recent article in " Style" by the Sunday Times has detailed a new level of CSR (Corporate Social Responsibility) by some European Fashion Houses.This gives a great insight into some of the wonderful work and causes being supported.

Diego Della Valle, is boss of Tod's leatherware houes and he has recently invested 25million Euros (£21million) in the first phase of the Colosseum's restoration, contributing to the safegarding of one of the world's most iconic buildings.

Fendi has recently contributed 2.2 million to the facelift of the Trevi Fountain.

In Florence 1.5million has been spent by Salvatore Ferragamo to restore the Fountain of Neptune  in the Piazza della Signoria, continuing to support the city in a number of areas that started in the 1990s.

Brunello Cucinelli donates up to 20% of his group's earnings that contribute to a foundation dedicated  to " giving back".

Prada, Versace and the publishing House Feltrinelli joined forces to help contribute 3million Euros to fund the restoration of one of the world's oldest shopping arcades.

French fashion house, Dior, supported the restoration of the Chateau de Versailles. LMVH chairman, Bernard Arnault, has created the Fondation Louis Vuitton. In 2014 it opened a 109 million euro centre for contemporary art  in the Bois de Boulogne.

LVMH's subsidiary, Bulgari has raised £38millin for Save the Children, developing a specific Save the Children Collection, donating money for each peice sold.

In the States there is a long history of support by Ralph Lauren. In 1989 the firm joined forces to develop the Nina Hyde Centre for Breats Cancer Research. ralph Lauren later founded the the Ralph Lauren Centre for Cancer Care and prevention in Harlem. Earlier this year another Ralph Lauren Centre  for Breast Cancer Research was opened at the Royal Marsden Hospital.

Burberry sets aside 1% of its profits for charity and has developed an "Acoustics" programme for support for muscians.

Philanthropy has a business benefit as well as doing great work. For any consumers  brands can be linked and embedded in culture, staff and consumers can bond around a project or passion, and can help secure new talent as well as providing valuable PR.

 

Based on an article by John Hooper.