LVMH signs first energy saving deal with Chinese mall owner

LVMH signs first energy saving deal with Chinese mall owner

THE WHAT? LVMH has announced that it has signed its first partnership with a leading shopping mall owner as part of its wider policy to reduce its energy consumption.

THE DETAILS The partnership with Hang Lung Properties will see the luxury goods conglomerate cooperate with the owner of more than 100 malls across China to achieve its LIFE 360 sustainability objectives by implementing the new standards laid out in LVMH’s strategy.

Hang Lung will turn off shops’ lights outside business hours, and install meters to enable LVMH to track energy consumption at its stores. The duo’s objective is to reduce their collective environmental impact whole ensuring the health of consumers and employees.

THE WHY? The initiative consolidates efforts to achieve the LVMH Group’s announced target of a 10 percent cut in energy consumption worldwide by October 2023. Antoine Arnault, LVMH Image and Environment, explains, “The design of our stores, like that of our products, is inspired by LVMH’s core values of creativity, innovation and excellence. And this of course means guaranteeing the environmental performance of our over 5,550 stores around the world. We are thus delighted with the unprecedented scope of this agreement with Hang Lung Properties. Our collaboration will allow us to expand our environmental commitments, especially with regards to climate.”