LVMH has announced the launch of its Heart Fund, a global emergency and support fund for its 150,000 employees, with an initial endowment of €30m (£25.7m).
The group has implemented the fund with the aim of supporting all its staff around the world who are faced with a “serious personal situation” by providing them with emergency financial aid as well as dedicated social and psychological support.
The fund also aims to help employees deal with more day-to-day issues, which the ongoing pandemic has often made particularly challenging.
Bernard Arnault, chairman and CEO, LVMH, said: “Our group’s corporate social responsibility policy has been consistently ambitious for the past 15 years, particularly in the areas of Diversity and Inclusion, gender equality and disability.
“The success of a company is not only measured by its financial results but also by its contribution to society and the support it’s able to provide to its employees, wherever they are in the world. Commitment is one of our core values, and the launch of the LVMH Heart Fund is yet another example.”
Chantal Gaemperle, EVP human resources and synergies, LVMH, added: “At LVMH, our people make a difference every day and are at the very heart of the group’s success.
“With this initiative – unprecedented in its scope – the group has shown a new side of its deep social commitment to employees and put its core values into action by providing very concrete support to our employees faced with challenging circumstances.”