Kering and LVMH take a stand for models’ health
French luxury groups Kering and LVMH – most usually rivals – have come together over a pressing issue in the fashion industry: the health and wellbeing of the models that parade clothes, bags and perfumes in front of us, on catwalks and magazine ads. While it is easy to think of models as leading a charmed life, the result is not always so glamorous, with anorexia and body dysmorphia rife within the profession.
Even more worrying – it sets unhealthy and unachievable appearance goals for impressionable young women, some of whom are modeling themselves. But now, two of the world’s biggest luxury groups have committed to “ban ultra-thin and underage models”.
LVMH and Kering’s share prices have appreciated by 21% and 52%, respectively, year to date
SOURCE: Yahoo Finance
The two companies released a joint charter last Wednesday on working with models worldwide, to be implemented at future fashion weeks, which will safeguard models’ health. With the rise of social media, a problematic and longstanding practice in the modeling industry – using malnourished young women to model clothes and accessories – has become publically castigated. LVMH and Kering, as two of the industry’s most powerful players, have the ability to correct it.
Antoine Arnault, a member of LVMH’s board and the CEO of Berluti, told the Financial Times “The charter is a step in the right direction. It’s something that will make models’ lives a lot easier and a bit less frightening. It’s a job that looks very glamorous but for 99% of the models it’s actually pretty difficult.”
Meanwhile, in a statement, Francois-Henri Pinault, Kering’s chairman and CEO, said: “We hope to inspire the entire industry to follow suit, thus making a real difference in the working conditions of fashion models industry-wide.”
Dominion holds both LVMH and Kering in its Global Trends Luxury Fund.
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