LVMH presents commitment to circular economy at ChangeNOW Summit
The fourth ChangeNOW Summit, held May 27-29, provides a forum of expression for all those taking action to build a more sustainable world. From policy makers and entrepreneurs to innovators and inspiring leaders, the event brings together change makers from more than 100 countries around the world to discuss and accelerate solutions to the challenges facing our planet.
Participating in the summit, Antoine Arnault, Image & Environment LVMH, presented the commitment made by the Group and its Maisons to supporting the circular economy. The approach, known as “creative circularity” at LVMH, is one of the four strategic pillars of the Group’s environmental program, LIFE 360.
Antoine Arnault emphasized the benefits of a circular economy model for reconciling economic growth and the protection of natural resources — a particularly important issue for LVMH, which relies heavily on nature for the creation of its products.
To illustrate the Group’s approach, he cited some of the recent, exemplary initiatives implemented by the Maisons. These include the LV Trainer Upcycling collection by Virgil Abloh for Louis Vuitton, projects to recycle surplus leather at Celine, Loewe and Berluti, and the integration of eco-design in the product development process at Hennessy. He also mentioned Nona Source, the new platform launched by LVMH employees as part of the Group’s DARE intrapreneurship program. This innovative initiative enables the Maisons to swap fabrics and budding stylists to purchase them at competitive prices.
By applying its creativity to the environmental excellence of its products and their packaging, LVMH intends to meet a number of objectives over the coming years, including:
- New circular economy services, such as repairs and upcycling, by 2023.
- Zero plastic from virgin fossil fuels in its packaging by 2026.
- An eco-design approach for all new products by 2030.
The LIFE 360 program reflects LVMH’s determination to get all its stakeholders actively involved in forging a new alliance between nature and creativity. The ultimate goal is to create products that are in harmony with nature and contribute to protecting biodiversity and preserving the climate.