The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The company has pledged $10 million to the new foundation, designed to support the LGBTQIA+ community through dedicated projects and programmes, it said in a statement.
The launch comes as Pride month kicks off in the United States. Other companies including Tapestry-owned Coach announced initiatives to promote awareness for LGBTQIA+ rights. Dr. Martens said it would donate over £200,000 ($252,058) to global LGBTQIA+ charities including ReBit in Japan and Black Rainbow in Australia.
Learn more:
How to Do Pride Marketing Right
With parades cancelled and civil rights protests top of mind, many fashion brands are rethinking how they show their support for the LGBTQ community.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector.
The group’s flagship Prada brand grew more slowly but remained resilient in the face of a sector-wide slowdown, with retail sales up 7 percent.
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.
Consumers face less, not more, choice if handbag brands can't scale up to compete with LVMH, argues Andrea Felsted.