LVMH makes bold inclusivity statement with support of LGBTQ rights
The world’s biggest luxury company, LVMH, is making a commitment to protect and support the rights of LGBTQ people when it signs the UN Standards of Conduct for Business this month. It’s a step guaranteed to protect the human rights of all LGBTQ people that work in its many maisons, and sends a message to the rest of the sector: inclusion isn’t optional, and people deserve fair treatment regardless of gender or sexual preference.
LVMH’s share price has appreciated by 46% year to date
Source: Yahoo Finance
LVMH has already applied inclusive conductivity policies at a number of its subsidiaries, including Marc Jacobs, Sephora, Kendo, Fresh, Benefit, Belvedere, and Starboard. The group’s executive vice president for human resources and synergies, Chantal Gaemperle, told industry publication Women’s Wear Daily (WWD): “All of our employees should be able to be themselves and be considered for their contribution, irrespective of other considerations such as their race, gender or sexual orientation.”
By the end of this year, LVMH is looking to go one better and roll out its own initiative, which will include a worldwide training program to discuss the impact of unconscious bias and how to practise inclusive leadership. The group already uses transgender model Krow Kian and transgender actor Indya Moore in its promotional material, and are likely to continue with similar hires.
Amongst the actions that the UN Standards of Conduct for Business will put into practise are eliminating discrimination against LGBTQ employees, supporting LGBTQ staff at work, and standing up for the rights of LGBTQ people in the communities where they do business.
Dominion holds LVMH in its Global Trends Luxury Fund.
If you would you like to receive the Newsfeeds daily, please click here to sign up now!Help us make this Newsfeed better by rating this article. 1 star = Poor and 5 stars = Excellent
The views expressed in this article are those of the author at the date of publication and not necessarily those of Dominion Fund Management Limited. The content of this article is not intended as investment advice and will not be updated after publication. Images, video, quotations from literature and any such material which may be subject to copyright is reproduced in whole or in part in this article on the basis of Fair use as applied to news reporting and journalistic comment on events.