Latest news with #GiorgioArmaniSpA
Fibre2Fashion
05-08-2025
- Business
- Fibre2Fashion
Italian regulator fines luxury brand $4.06 mn for misleading claims
The Italian Competition Authority (AGCM) has fined Giorgio Armani SpA and GA Operations SpA €3.5 million (~$4.06 million) for unfair commercial practices under the consumer code, following an investigation into misleading sustainability and social responsibility claims. The violations occurred between April 22, 2022, and February 18, 2025. The companies made untruthful, unclear, and equivocal statements in their code of ethics and on their corporate websites, including Armani Values and Armani, where users were directed to content promoting the brand's ethical and social commitments, AGCM said in a press release. The Italian Competition Authority has fined Giorgio Armani and GA Operations €3.5 million (~$4.06 million)) for making misleading sustainability and social responsibility claims between April 2022 and February 2025. Investigations found poor safety, hygiene, and off-the-books work at subcontractors producing Armani leather goods, contradicting public statements. These claims were used as marketing tools to enhance the brand's reputation in sustainability and influence consumer purchasing decisions. However, investigators found a stark contrast between these public commitments and actual working conditions at suppliers and subcontractors producing the majority of Armani-branded leather bags and accessories. Many subcontractors reportedly removed safety devices from machinery to boost output, jeopardising worker health and safety. Sanitary and hygiene conditions were poor, and some employees were found to be working wholly or partially off the books. The AGCM noted that these issues were well known to the companies. During a Judicial Police inspection, a GA Operations quality control employee admitted to visiting one such subcontractor monthly for about six months. Additionally, in an internal document of Giorgio Armani SpA dated 2024—prior to the initiation of judicial administration proceedings requested by the Public Prosecutor's Office of Milan—it is even stated that 'in the best of the situations observed, the working environment is at the limit of acceptability; in other cases, there are serious concerns regarding its adequacy and health standards'. Fibre2Fashion News Desk (SG)
Yahoo
07-05-2025
- Business
- Yahoo
Giorgio Armani, Fondazione del Tessile Italiano Invest in YHub to Boost Traceability and Sustainability in Fashion
MILAN — Giorgio Armani SpA and Fondazione del Tessile Italiano are investing in YHub, a leading group in solutions and technologies for traceability and sustainable transition in the fashion and luxury industry. They join the likes of Brunello Cucinelli through his holding company Foro dell Arti; Matteo Marzotto, president of MinervaHub; Federico Marchetti, chairman of The Sustainable Markets Initiative's Fashion Task Force through property holding Mavis; Claudio Rovere, founder and CEO of Holding Industriale SpA, and venture funds managed by the global investment bank LionTree, which backed YHub in June last year. More from WWD Operating under the single brand Ympact, YHub currently supports more than 3,000 companies in tracing supply chains and measuring the environmental and social impacts of production. It collaborates with more than 50 global brands, and maps more than 80,000 suppliers across 22 countries. 'We are pleased to join the YHub Group and to contribute to the development of innovative solutions for traceability and sustainability in fashion — objectives that are essential and achievable only through close cooperation between brands and the production supply chain,' said Andrea Camerana, board member of the Armani group. Simone Canclini, president of Fondazione del Tessile Italiano, which was established in 1998 and works to promote the Italian textile sector, said that joining YHub 'represents a strategic opportunity for us to support the transformation path that companies must undertake, fostering the kind of dialogue with brands that leads to shared projects and coordinated investments.' Financial details were not disclosed. By integrating expertise, methodology and technology, YHub enables companies in the sector to meet growing market demands and evolving sustainability regulations. The founding partners — Francesca Rulli, Massimo Brandellero and Cristian Iobbi — retain majority control of the company. General manager Matteo De Angelis has also joined the shareholding structure. In a statement, the founding partners jointly said 'the experience and standing of our new partners, alongside those who joined us in 2024, will be instrumental in strengthening our ability to support brands and the supply chain and in amplifying the positive impact we are generating across the sector.'
