New Fashion Pact co-chair, but Hermès walks away
The chief executive of retail group H&M, Helena Helmersson, is the new co-chair of the Fashion Pact.
Thirty-two luxury, fashion and textile companies launched the Fashion Pact in 2019, signing a commitment to protect climate, biodiversity and the oceans of the world. Ms Helmersson replaces the chief executive of luxury group Kering, François-Henri Pinault. Former chief executive of Unilever Paul Polman is the Fashion Pact’s other co-chair.
“We need to work together to tackle challenges that one company alone can’t solve,” Helena Helmersson said.
However, the Fashion Pact has also confirmed that luxury leathergoods group Hermès and high-end fashion retail group Selfridges have stepped back from the initiative. “Our membership base represents one-third of the industry,” it said. “It is the largest grouping of companies committed to sustainability within the fashion and textiles industry. We believe it is normal for there to be fluctuations in the membership over time, with new members joining as others decide to pause.”
There are currently 63 members in the Fashion Pact, with two more to be announced soon. Additionally, there are five more companies “in the pipeline”.
