LVMH To Donate $5.5 Million USD to Ukrainian Relief
Aiding the victims of the war.
Standing in solidarity with Ukraine, LVMH Group has announced that it will allocate €5 million EUR (approximately $5.5 million USD) to the International Committee of the Red Cross (ICRC) to help those affected by the war.
“The LVMH Group is closely monitoring the tragic situation in Ukraine and stands alongside all those severely affected by this war,” the company’s statement reads. “The group’s first concern is the safety of its 150 employees in Ukraine and is providing them with essential financial and operational assistance.” While the group has yet to specify how it will utilize its donation, LVMH is also working on a fundraising campaign for the ICRC, which will aid its employees.
According to Vogue Business, LVMH’s crisis committee will monitor the situation “and adapt its measures as needed.” This news comes after Burberry, Gucci, Balenciaga, Marni and Diesel-owner OTB Group have pledged to support Ukraine via their own fundraisers.
In case you missed it, here’s our list of ways you can help support Ukraine.
- Vogue Business