Europe’s Top Asset Manager Demands Change from LVMH After Worker Exploitation Probe
Reuters exclusively reported that Europe’s top asset manager Amundi and other LVMH investors are pushing for the luxury conglomerate to take more aggressive action in monitoring its suppliers’ treatment of workers. This demand comes after Italian prosecutors uncovered alleged sweatshop-like conditions at subcontractors for Dior, one of LVMH’s high-end brands.
The investigation into Dior’s suppliers has brought attention to potential worker exploitation in the global luxury goods industry, worth $1.6 trillion.
Analysis: This article highlights the growing concern among investors regarding ethical practices within supply chains of major corporations. As a consumer or investor, it is important to consider the social responsibility of the companies you support. By holding companies accountable for their treatment of workers, investors can drive positive change and ensure ethical practices throughout the industry.
