Luxury Conglomerates – LVMH and Kering donate millions in the fight against Coronavirus


The Coronavirus has claimed its wrath on hundreds across the globe, especially those in China. And in an ode to fight against it, several organizations have now come together to pool in funds and make resources available in areas affected by it. The latest to join the list are luxury conglomerates – LVMH and Kering that recently pledged millions in the fight against the fatal virus.

While LVMH, which owns luxury brands such as Louis Vuitton, Dior, Fendi, and Celine, has donated $2.3 million towards the cause, Kering – Gucci, Saint Lauren, and Balenciaga’s parent company, has pledged more than $1 million for it. Commenting on it, François-Henri Pinault, Kering’s CEO said – “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.”

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In addition to LVMH and Kering, Swarovski has donated half a million dollars to fight the virus. Other business houses to extend their support include sportswear manufacturer Anta and e-commerce giant Alibaba, who have together amassed about $2.8 billion to help beat the contagious virus.

Most of the funds donated will go to the Red Cross Foundation’s efforts in Hubei province and will be used to care for medical staff and patients at hospitals as well as for public health education. Here’s praying for the eradication of the evil called Coronavirus at the earliest!

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[Via: Footwear news]