In the ongoing Russia-Ukraine conflict, we are seeing many fashion retailers stand in solidarity with Ukraine.
While British fashion retailer John Lewis has already announced to donate £100,000 to the British Red Cross to help the affected people of Ukraine, many others like Burberry, Canada Goose and Chanel have also started aiding the war victims through donations.
Also Read: UK’s apparel retailer John Lewis donates £100,000 to help Ukraine
LVMH is the latest to have announced an emergency donation of around US $ 5.5 million to the International Committee of the Red Cross (ICRC) to help the Ukrainians impacted by the crisis.
In a statement released to media, LVMH has said “The Group’s first concern is the safety of its 150 employees in Ukraine and is providing them with essential financial and operational assistance.”
Though the Group is yet to specify how it will be utilising its donation, LVMH is also working on a fundraising campaign for the ICRC, which will help its employees.
Notably, LVMH’s crisis committee will monitor the situation and adapt its measures as needed.
Paris-based LVMH was founded in 1987 and generated €53.7 billion in 2019.
