Sustainability
For many years, sustainability has formed a cornerstone of Kering’s strategy; not only out of ethical necessity, but also as a driver of innovation and value creation. The year 2023 saw the Group elevate its targets, stepping up the transformation of its business model to honor and further its commitments.
Stepping up our commitments
Six years into its Crafting Tomorrow’s Luxury strategy, Kering in 2023 released its second Progress Report, presenting the results of its sustainability roadmap for 2025 (see extra-financial key figures on p. 98). This report outlines the Group’s actions implemented throughout the value chain. It also highlights the progress made between 2020 and 2023, as well as challenges that still need addressing. Building on this success, Kering set an ambitious new target to reduce absolute greenhouse gas (GHG) emissions by 40% by 2035 as compared to 2021, for Scopes 1, 2 and 3. The goal is to separate the Group’s growth from GHG emissions. This step is required to accelerate Kering’s decarbonization, aligning its business with a 1.5°C pathway. To achieve this, Kering focuses efforts on three performance drivers: producing fairly, optimizing processes and developing new services and distribution channels.
The ambition and expertise at Kering, a sustainability pioneer in the luxury industry, were recognized further when the Group was selected as a pilot company in the validation process for Science-Based Targets for Nature (SBTN). This new global standard for nature will provide science-backed guidance to help companies address the complexities of preserving biodiversity.
The ambition and expertise at Kering, a sustainability pioneer in the luxury industry, were recognized further when the Group was selected as a pilot company in the validation process for Science-Based Targets for Nature (SBTN). This new global standard for nature will provide science-backed guidance to help companies address the complexities of preserving biodiversity.
Fostering innovation
To support the development of solutions and innovative processes that enhance sustainable practices, Kering in 2023 bolstered its sustainability innovation lab in Milan, which now regroups its two platforms: the Material Innovation Lab (MIL), a library of 5,000 sustainable textiles, and the Jewelry Innovation Lab (JIL), which explores new materials and processes for watches and jewelry.
Illustrating the growing place of sustainable and innovative materials in its Houses’ collections, Balenciaga unveiled, in its Summer 2024 collection, a new biomaterial called LunaformTM. Developed specifically for the brand by the American biomaterials startup Gozen, this groundbreaking nanocellulose derivative is made using an entirely vegan, non-GMO manufacturing method and is animal-free and plastic-free.
In Shanghai, Kering hosted its third Kering Generation Award, an initiative that supports Chinese startups with positive environmental and social impact. This circularity-themed edition focused on three dimensions: circular raw materials, circular product designs and circular business models. These principles have already been implemented at Boucheron, which this year unveiled a new eco-designed jewelry box made of only two natural, traceable and recyclable materials: aluminum and wool felt. What’s more, the clasp-free design requires neither glue nor stitching, facilitating recycling.
Illustrating the growing place of sustainable and innovative materials in its Houses’ collections, Balenciaga unveiled, in its Summer 2024 collection, a new biomaterial called LunaformTM. Developed specifically for the brand by the American biomaterials startup Gozen, this groundbreaking nanocellulose derivative is made using an entirely vegan, non-GMO manufacturing method and is animal-free and plastic-free.
In Shanghai, Kering hosted its third Kering Generation Award, an initiative that supports Chinese startups with positive environmental and social impact. This circularity-themed edition focused on three dimensions: circular raw materials, circular product designs and circular business models. These principles have already been implemented at Boucheron, which this year unveiled a new eco-designed jewelry box made of only two natural, traceable and recyclable materials: aluminum and wool felt. What’s more, the clasp-free design requires neither glue nor stitching, facilitating recycling.
Inspiring stakeholder engagement
Kering also addresses the challenges of sustainable Luxury by providing training for new generations through multiple partnerships with leading organizations. In 2023, the Group partnered with Bocconi University and Politecnico di Milano to develop a master’s degree in Transformative Sustainability. At the beginning of the 2023/2024 academic year, the two-year, cross-disciplinary program welcomed its first students.
Lastly, in an effort to promote sustainable Luxury among a wider audience, 2023 marked the launch of Kering’s Fashion Our Future podcast. This initiative seeks to explore the relationship between fashion and the environment, spotlighting experts who work every day to forge a more sustainable future for the fashion industry.
Lastly, in an effort to promote sustainable Luxury among a wider audience, 2023 marked the launch of Kering’s Fashion Our Future podcast. This initiative seeks to explore the relationship between fashion and the environment, spotlighting experts who work every day to forge a more sustainable future for the fashion industry.
“This new target to reduce absolute greenhouse gas emissions by 40% aligns with our sustainability ethos: we continually outperform our objectives, and each time we come close to meeting them, we push our limits a little further.”
