Versace
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Owned |
USA |
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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 | ||||
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. |
Company Assessment
PRAISE | CRITICISM | INFORMATION | ||
Gianni Versace SpA | ||||
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: Fashion Revolution (2020) |
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: Greenpeace (2016)
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: RAN (2010)
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: Clean Clothes Campaign (2012)
This retailer has committed to being a fur free retailer, as recognised by the International Fur Free Retailer Program.
Source: Fur Free Retailer (2019) |
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Capri Holdings Ltd | ||||
This company received a score of 5.6/100 (retrieved 10-Oct-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: IPE (2020)
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: Forest 500 (2019)
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: China Labour Watch (2018)
The 2019 Corporate Human Rights Benchmark assessed 200 of the largest publicly traded companies in the world from the Agricultural Products, Apparel, Extractives and ICT Manufacturing sectors on 100 human rights indicators. This company's score was in the 10-20 band range. The overall average score was a disappointing 24%.
Source: CHRB (2019)
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: PETA (2020)
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: Fashion Revolution (2020)
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: S&P Global (2019)
JUST Capital polls Americans every year to identify the issues that matter most in defining just business behaviour. For their 2021 rankings the public identified 19 issues, which are organised under the headings Workers, Communities, Customers, Shareholders and Environment. JUST Capital then define metrics that map to those issues and track and analyse the largest, publicly traded U.S. companies. This analysis powers their rankings, in which this company ranked Bottom 10% of 928 companies, and 37th of 38 Household Goods & Apparel companies.
Source: JUST Capital (2020)
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: RAN (2015)
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: KnowTheChain (2018)
In 2019 the median pay for a worker at this company was US$25,700. The CEO was paid 558 times this amount. Exorbitant CEO pay is a major contributor to rising inequality. CEOs are getting more because of their power to set pay, not because they are increasing productivity or possess specific, high-demand skills. The economy would suffer no harm if CEOs were paid less (or taxed more). In contrast, the CEO-to-typical-worker compensation ratio was 20-to-1 in 1965 and 58-to-1 in 1989.
Source: AFL-CIO (2020) |
This retailer has committed to being a fur free retailer, as recognised by the International Fur Free Retailer Program.
Source: Fur Free Retailer (2019)
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: Leather Working Group (2019)
This company is a member of the Better Cotton Initiative, a voluntary initiative which encourages the adoption of better management practices in cotton cultivation to achieve measurable reductions in key environmental impacts, while improving social and economic benefits for cotton farmers, small and large, worldwide.
Source: Better Cotton Initiative (2019)
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: Sustainable Apparel Coalition (2020)
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: company website (2017)
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: As You Sow (2019) |
Company Details
Type | Wholly-owned subsidiary |
Revenue | US$348 million in 2009 |
Contact Details
Address | Milan, Italy |
Website | www.versace.com |