LVMH, Kering and More Donate $2.8 Billion USD to Fight Coronavirus
As the deadly illness spreads internationally.
Major fashion industry players including luxury conglomerates LVMH and Kering are joining efforts to help fight coronavirus, a deadly airborne illness that originated in Wuhan, China and has spread throughout the area and outlying countries including the United States and Germany.
WWD reports that 12 companies including Louis Vuitton owner LVMH, Gucci parent company Kering, jewelry brand Swarovski and beauty giant L’Oreal have donated a collective $2.88 billion USD to the cause, with funds going towards medical supply donations, government epidemic assistance and the Chinese Red Cross Foundation. Kering CEO François-Henri Pinault issued a statement on the recent donation: “Our thoughts are with the many impacted by the novel coronavirus outbreak, and therefore we have decided to donate the funds as an immediate contribution to assist.”