Versace

OVERALL
Owned	USA
Rating

Luxury goods

Founded by Gianni Versace in 1978, who was murdered in 1997. The company was owned by his relatives until 2019, when the company was bought by Michael Kors (now Capri Holdings).

Company Ownership


Gianni Versace SpA	ITA	website
Capri Holdings Ltd owns 100% of Gianni Versace SpA	USA	website	email	facebook	twitter
Luxury fashion Michael Kors is an American fashion designer. As well as selling high-fashion apparel and footwear this company has several licensing agreements. Acquired Jimmy Choo in 2017 and Versace in 2018, and changed its name from Michael Kors Holdings to Capri Holdings in 2019.

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Company Assessment

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CRITICISM

INFORMATION

Gianni Versace SpA

6/100 in Fashion Transparency Index

The 2020 Fashion Transparency Index reviewed 250 of the world's largest fashion brands and retailers and ranked them according to how much they disclose about their social and environmental policies, practices and impacts. Brands owned by this company scored 6%, signifying it has little to no information about their supply chain practices or policies available to the public. The average score was 23% and the highest score was 73%.
[Source 2020][More on Sustainability Reporting]

No Detox commitment

Greenpeace launched their Detox Campaign in 2011 to expose the direct links between global clothing brands, their suppliers and toxic water pollution around the world. As a result, many companies have joined Greenpeace's Detox Program, which requires companies to adopt a credible, individual and public commitment to phase out the use and release of all toxic chemicals from their global supply chain and products, by 1 January 2020. This company is yet to make a commitment despite pressure from Greenpeace.
[Source 2016][More on Habitats]

Paper policy

Following a campaign by the Rainforest Action Network in 2009, this company pledged to take concrete action to clean their supply chains of rainforest paper and sever relationships with companies (like Asia Pulp and Paper) who continue to destroy high conservation and endangered forests in Indonesia and elsewhere.
[Source 2010][More on Forests]

Sandblasting

This company has publicly banned sandblasting. Sandblasting is a dangerous and deadly process which involves workers firing sand at jeans under high pressure. It has been known to kill workers within months as the inhalation of large amounts of silica dust generated during sandblasting causes silicosis, a potentially lethal pulmonary disease.
[Source 2012][More on Workers Rights]

Fur free retailer

This retailer has committed to being a fur free retailer, as recognised by the International Fur Free Retailer Program.
[Source 2019][More on Animal Rights]

Capri Holdings Ltd

9% in Forest 500 Rankings

The Forest 500 identifies, ranks, and tracks the governments, companies and financial institutions worldwide that together could virtually eradicate tropical deforestation. Rankings are based on their public policies and commitments and potential impacts on tropical forests in the context of forest risk commodities (palm oil, soy, beef, leather, timber and paper). This company received a score of 9%.
[Source 2019][More on Forests]

Supply chain practices in China

This company received a score of 0/100 (retrieved 25-Feb-2020) in the Corporate Information Transparency Index (CITI), a system for evaluating supply chain practices in China, particularly in regards to environmental management and water pollution. Scores are calculated using government compliance data, online monitoring data, and third-party environmental audits, as well as trends in the environmental performance of factories in the company's supply chains.
[Source 2020][More on Habitats]

Workers rights in China

A 2018 report by China Labour Watch found numerous labor law violations in a Chinese factory which is one of this company's main suppliers. Female workers at the factory went on strike after trying to negotiate with factory management in an effort to defend the basic rights granted to them by Chinese labor laws as well as receive compensation for their owed wages.
[Source 2018][More on Workers Rights]

Animal Testing

This company appears on PETA's (People for the Ethical Treatment of Animals, USA) 'Companies That Do Test On Animals' list, signifying that they manufacture products that are tested on animals at some stage of development.
[Source 2020][More on Animal Testing]

8/100 in Fashion Transparency Index

The 2020 Fashion Transparency Index reviewed 250 of the world's largest fashion brands and retailers and ranked them according to how much they disclose about their social and environmental policies, practices and impacts. Brands owned by this company scored 8%, signifying it has little to no information about their supply chain practices or policies available to the public. The average score was 23% and the highest score was 73%.
[Source 2020][More on Sustainability Reporting]

10/100 S&P Global ESG Score

This company received an S&P Global ESG Score of 10/100 in the Textiles, Apparel & Luxury Goods category of the 2019 SAM Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices. The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
[Source 2019][More on Sustainability Reporting]

Irresponsible fabric sourcing

In 2015 the Rainforest Action Network (RAN) released a report documenting the results of decades of irresponsible fabric sourcing including land grabbing, forest destruction and human rights abuse to forest-dependent communities caused by deforestation from tree-based fabric production companies. This company was one of the "Fashion Fifteen" implicated in the report for irresponsibly sourcing tree-based fabrics such as rayon and viscose.
[Source 2015][More on Forests]

24/100 in KnowTheChain Benchmark

In 2018 KnowTheChain benchmarked 120 large global companies in the ICT, Food & Beverage, and Apparel & Footwear sectors on their efforts to address forced labour and human trafficking in their supply chains. This company received a score of 24/100.
[Source 2018][More on Workers Rights]

Cotton sourcing (As You Sow)

Responsible Sourcing Network's 2014 report Cotton Sourcing Snapshot: A Survey of Corporate Practices to End Forced Labor includes survey results and ratings of 49 companies reflecting actions they are taking to stop cotton from Uzbekistan picked with forced labor from entering their supply chains. The survey offered a maximum of 100 points across 11 indicators in the categories of Policy, Public Disclosure, Engagement, and Implementation & Auditing. Only five companies scored over 50 points, 19 companies (including this company) scored under 25 points, and two companies scored zero.
[Source 2014][More on Human Rights]

Fur free retailer

This retailer has committed to being a fur free retailer, as recognised by the International Fur Free Retailer Program.
[Source 2019][More on Animal Rights]

Leather Working Group member

This company is a member of the Leather Working Group, a multi-stakeholder group who's objective is to develop and maintain a protocol that assesses the compliance and environmental performance of tanners and promotes sustainable and appropriate environmental business practices within the leather industry.
[Source 2019][More on Multi-Stakeholder Initiatives]

Sustainable Apparel Coalition member

This company is a founding member of the Sustainable Apparel Coalition, a multi-stakeholder initiative launched in March 2011 by a group of global apparel and footwear companies and non-profit organizations (representing nearly one third of the global market share for apparel and footwear). The Coalition's goals are to reduce the apparel industry's environmental and social impact, and to develop a universal index to measure environmental and social performance of apparel products.
[Source 2020][More on Multi-Stakeholder Initiatives]

SB 657 disclosure statement

The California Transparency in Supply Chains Act of 2010 (SB 657) requires companies operating in California to disclose their efforts to eradicate slavery and human trafficking from their direct supply chains. Follow the link to see this company's disclosure statement.
[Source 2017][More on Human Rights]

56.3% in conflict minerals rankings

As You Sow's 2019 report, Mining the Disclosures, is a deep analysis of 215 companies' human rights performance in relation to sourcing conflict minerals from the Democratic Republic of the Congo (DRC). This company's score was 56.3% (Adequate).
[Source 2019][More on Human Rights]

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Company Details

Company Structure	Wholly-owned subsidiary
Revenue	US$348 million in 2009

Contact Details

Address	Milan, Italy
Website	www.versace.com

Versace

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