LVMH shines the spotlight on gender equality by joining new Task Force

Luxury conglomerate LVMH is focusing on equal rights, by signing up to the Task Force on gender equality established by the Davos World Economic Forum.

The fashion and lifestyle powerhouse announced on March 8, International Women's Day, that it had accepted an invitation from French President Emmanuel Macron to join the initiative. For the past five years, the Davos World Economic Forum has encouraged countries to voluntarily form public or private partnerships to define three-year plans with concrete objectives regarding gender equality, and this January saw Macron pledge to make France the first European country to get on board. Gecina, Schneider Electric and Sodexo also signed up to the commitment, alongside public establishments Caisse des Dépôts and Banque Publique d'Investissement. Together, the companies plan to create a working group that will meet regularly to decide on concrete proposals to be submitted to the government.

"LVMH views gender equality as both natural and essential, a social objective and at the same time an asset that enhances competitiveness," said Antoine Arnault, a member of the Board of Directors of LVMH, in a statement. "We owe it to our 145,000 employees -- of whom 73% are women -- to make a strong commitment to driving progress."

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The move is the latest social initiative adopted by LVMH, which counts Louis Vuitton, Fendi, Christian Dior and Givenchy amongst its fashion portfolio. In February, the group teamed up with Kering to launch a new website providing fashion models with vital information about how to look after their physical and mental well-being, following the joint creation of a charter last September pertaining to working conditions within the modelling industry.