Dec 16, 2022
Capri Holdings reveals 2022 social responsibility progress
Dec 16, 2022
Capri Holdings, the owner of Michael Kors, Versace and Jimmy Choo, published on Thursday its 2022 Corporate Social Responsibility (CSR) report, highlighting the company’s work related to environmental sustainability, climate change, human rights, diversity and inclusion, and philanthropy.
The CSR report highlights how the company conducted a refreshed environmental, social and corporate governance (ESG) materiality assessment, as well as attained 62.5% women and 25% persons of color on its board of directors. Looking ahead, it announced that 10% of its leadership’s annual incentive compensation will be tied to individualized ESG goals in 2023.
On the environmental front, the company received approval of greenhouse gas (GHG) emissions reduction targets by the Science Based Targets initiative (SBTi), and achieved a 38% reduction in Scope 1 and Scope 2 GHG emissions from fiscal year 2019 baseline. It also sourced 91% of leather from tanneries certified to the highest environmental standards and embraced circulatory through repair and re-commerce initiatives.
As part of its community initiatives, Capri was certified in the U.S. as a 'Great Place to Work' and scored 90/100 on the Human Rights Campaign Foundation’s Corporate Equality Index. Through The Capri Holdings Foundation for the Advancement of Diversity in Fashion, it announced an expansive new scholarship program and joined Empower@Work, an organization focused on empowering women workers.
Lastly, its philanthropic initiatives included donating over 30 million meals through the Michael Kors Watch Hunger Stop philanthropic campaign; investing $10 million in The Versace Foundation supporting the LGBTQIA+ community; supporting Women for Women International through The Jimmy Choo Foundation; and contributing to disaster relief efforts to support those affected by the war in Ukraine.
“Capri Holdings is a company deep with purpose. Whether it’s doing our part to foster a more resilient environment, promote diversity and inclusion or give back to those in need, Capri Cares about the planet and its people. It is that purpose that drives us forward as we pursue our CSR goals with even more intention,” said John D. Idol, chairman and chief executive officer of Capri Holdings.
“We are pleased with the progress we have made over the past year and look forward to continuing to share the work our Capri community is doing to care for the world around us.”
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