Capri Holdings’ 2021 Corporate Social Responsibility Report Tracks Company’s Progress
Capri Holdings Ltd. has made strides toward key Corporate Social Responsibility targets relating to environmental sustainability and climate change, human rights, diversity and inclusion, and philanthropy.
The company, whose brands include Michael Kors, Jimmy Choo and Versace, originally released its CSR report in April 2020, committing to ambitious, measurable goals. Its current report, released Thursday, covers the company’s activities to drive meaningful progress toward those goals during fiscal year 2021, along with some of the major CSR-related activities undertaken during the first half of fiscal year 2022.
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“Our corporate social responsibility strategy has always been about focusing our energy and resources where we can make the greatest impact on people and the planet,” said John D. Idol, chairman and chief executive officer of Capri. “Over the past year, we continued to improve the way we work in order to better the world in which we live. I am incredibly proud of our entire organization for demonstrating how business can truly be a force for good.”
Among the highlights are signing the Science Based Targets initiative Business Ambition for 1.5 degree Celsius, committing the company to set science-based targets across its operations and supply chain, in alignment with reduction requirements to keep warming below 1.5 degrees Celsius globally.
The company also reaffirmed its commitment to reach 100 percent renewable energy worldwide by joining RE100, a global initiative bringing together the world’s most influential businesses committed to 100 percent renewable electricity.
Further, Capri has made significant progress toward its goal to source at least 95 percent of its leather from Leather Working Group Gold — or Silver-certified tanneries, or from tanners achieving comparable certification by 2025. For fiscal-year 2021, 85 percent of leather was sourced from suppliers meeting the highest standards of environment performance.
The company has also invested in Desserto, an advanced, cactus-based material it believes is a sustainable, low-impact option for accessories and footwear.
In the area of community, Capri has pledged $20 million to the Capri Holdings Foundation for the Advancement of Diversity in Fashion, to further the foundation’s mission of supporting diversity, inclusion and equality throughout the fashion industry.
It has launched Pride@Capri, its first employee resource group focused on the LGBTQ community and its allies. In addition, it has signed the Black in Fashion Council’s Pledge to raise the percentage of Black employees in executive — and junior-level positions throughout the organization. The report noted that in the U.S., 10 percent of Capri’s employees are Black or African American, and 4 percent of its leadership is Black or African American, as of March 27.
The company achieved a score of 80 points out of 100 on its first submission to the Human Rights Campaign Foundation’s Corporate Equality Index.
In its commitment to philanthropy, Capri contributed $3 million with its brands and founders to local and international organizations providing frontline and emergency relief at the start of the COVID-19 pandemic. It donated $35 million of Michael Kors product to poverty and disaster-relief through nonprofit Delivering Good. And, it has delivered more than 24 million school meals through the Michael Kors Watch Hunger Stop campaign in partnership with the United Nations World Food Programme.
Capri continues to support Women for Women International through The Jimmy Choo Foundation, and supports the Born This Way Foundation, a nonprofit organization committed to empowering and aiding youth wellness through Versace’s Pride 2021 programming.
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