LVMH and L’Oreal's Pledge to Fight CoronaVirus

The Luxury sector has been hard at work to support the fight against coronavirus. 

The first of many, on Monday, LVMH announced it would be transforming its perfume factories in hand sanitizer labs. The conglomerate has decided to give away the antibacterial product for free, and it's shifting the operations of its perfume factory to do so. 

"Through this initiative, LVMH intends to help address the risk of a lack of product in France and enable a greater number of people to continue to take the right action to protect themselves from the spread of the [coronavirus]," the company wrote in the statement. Even further, LVMH insisted that they would continue production as long as demand remained.

On Wednesday, L'Oreal, the world's largest beauty producer, launched a solidarity program in striving to curb the propagation of coronavirus. 

The program included the following solidarity programs supporting health authorities: firstly, the group's factories will now ramp up their production of hand sanitiser to manufacture significant quantities over the next few weeks to support the needs of French and European health authorities. 

La Roche-Posay will equip all partner hospitals, care homes and main partner pharmacies in Europe with hand sanitiser. 

Garnier will supply and distribute several million units of hand sanitiser free-of-charge to all its European food distribution customers so that their employees, who are continuing to work to meet consumers' basic needs, can protect themselves by following the recommended precautions.  

L'Oréal will freeze their payments until their businesses resume and will shorten its payment times with immediate systematic payments.

Lastly, the company has decided to donate one million euros to its partner non-profit organisations, who are committed to combatting insecurity. This will help the most needy to follow the recommended precautions, combat the coronavirus and withstand the consequences of this epidemic. 

"In this unprecedented crisis, it is our responsibility to contribute to the collective effort in every way possible," explained Jean-Paul Agon, Chairman and CEO of L'Oréal in an official statement. "Through these actions, L'Oréal expresses our recognition, our support and our solidarity towards those who are demonstrating extraordinary courage and selflessness in their efforts to combat this pandemic.”

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