Gucci, with the support of Kering, is making significant strides in sustainability through its investments in research and development (R&D) initiatives. One of the key projects that Gucci has embarked upon is the establishment of a research and development center focused on exploring solutions for the reuse of manufacturing waste. This center not only serves as a hub for R&D activities but also provides training for Gucci's 700 direct suppliers and 3,500 sub-suppliers.
With a commitment to promoting a circular economy, Gucci has allocated a substantial investment of 15 million euros over the span of three years towards this initiative. This investment underscores Gucci's dedication to driving innovation in sustainable practices within the luxury fashion industry.
Gucci's partnership with Kering, a global luxury group that owns several high-end fashion brands, has been instrumental in supporting Gucci's sustainability efforts. Together, Gucci and Kering are working towards implementing sustainable practices across the entire value chain, from sourcing raw materials to manufacturing processes and product distribution.
The inauguration of the first Italian hub for circular economy by Gucci marks a significant milestone in the brand's sustainability journey. This hub serves as a collaborative platform for stakeholders in the fashion industry to come together and exchange ideas, innovations, and best practices in sustainable development.
In a joint press release, Gucci announced a groundbreaking agreement with Intesa Sanpaolo, one of Italy's largest banking groups, to support the sustainable transition of the supply chain for Gucci's "Made in Italy" production. This partnership aims to drive positive change in the fashion industry by promoting environmentally friendly practices and ensuring the ethical sourcing of materials.
One of the key focus areas of Gucci's R&D investments is the development of innovative solutions for managing and reusing manufacturing waste. By exploring new technologies and processes, Gucci aims to minimize its environmental impact and reduce its carbon footprint. This commitment to sustainability is a testament to Gucci's leadership in driving positive change within the fashion industry.
The collaboration between Gucci and Intesa Sanpaolo extends beyond supply chain sustainability to support the "Made in Italy" production. By advocating for local production and craftsmanship, Gucci and Intesa Sanpaolo are championing the preservation of traditional Italian artisanship while promoting sustainable practices within the industry.
A significant aspect of Gucci's sustainability efforts is the implementation of a tax credit for R&D investments. Gucci is eagerly awaiting the government decree that will provide financial support for companies that invest in research and development activities, further incentivizing innovation in sustainable practices.
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