Prada Launches Sustainable Term Loan

On November 5th, Prada S.p.A. signed with Crédit Agricole Group the first sustainability linked loan of the luxury goods industry, named Sustainable Term Loan (STL).

"This transaction demonstrates that sustainability is a key element for the development of the Prada Group, increasingly integrated into our strategy,” explained Prada’s CFO Alessandra Cozzani in an official statement released by the brand. “We are confident that this collaboration with Crédit Agricole, a leader in its sector, will help to extend the benefits of a responsible business to the financial world." 

This € 50m five-year term loan – the first of its kind in the industry – introduces a rewarding annual pricing adjustment based on the achievement of ambitious company targets related to sustainability. The interest rate can be reduced following the achievement of targets related to the number of stores assigned with an LEED Gold or Platinum Certification, the amount of training hours for the employees, and the use of Prada Re-Nylon (regenerated nylon) for the production of goods. Crédit Agricole Corporate and Investment Bank will also be acting as Sustainability Coordinator, Sustainability Advisor, and Facility Agent while Crédit Agricole Italia will act as Lender. 

“The luxury sector is becoming increasingly committed to developing a sustainable business,” concluded Alberto Bezzi, Senior Banker at Crédit Agricole Corporate and Investment Bank. “I am very proud of this collaboration, which confirms Prada’s ongoing efforts for engaging in and cultivating virtuous behaviors that contribute to its sustainable growth.”

SHARE
  • Facebook
  • Twitter
  • Pinterest
SIMILAR ARTICLES
Adidas and Allbirds Collaborate on Lowest Carbon Emissions Shoe
By Rebecca Hitchon
Sportswear brand adidas has teamed up with footwear company Allbirds to develop a sports...
By Rebecca Hitchon
Sportswear brand adidas has teamed up with footwear company Allbirds to develop a sports performance shoe with the lowest ever carbon footprint.Despite being competitors, the brands want the future of the footwear industry to be more about collaboration than competition. “There is an urgent need...
Sportswear brand adidas has teamed up with footwear company Allbirds to develop a sports performance shoe with the lowest ever carbon footprint.Despite being competitors, the brands want the future of the footwear industry to be more about collaboration than competition. “There is an urgent need to reduce our global carbon number, and this mission is bigger than just Allbirds or adidas. Whether...
Gary Green’s Black And White Photographs Delve into NYC’s Punk and Post-Punk Scene
By Sasha Regazzoni
It was the summer of 1976 when American photographer Gary Green moved from the humdrum suburbs of...
By Sasha Regazzoni
It was the summer of 1976 when American photographer Gary Green moved from the humdrum suburbs of Long Island to a two-bedroom apartment in Lower Manhattan, the epicentre of the up and coming anarchistic wave of music known as ‘punk’, to work as a photographer assistant. Coincidentally it was...
It was the summer of 1976 when American photographer Gary Green moved from the humdrum suburbs of Long Island to a two-bedroom apartment in Lower Manhattan, the epicentre of the up and coming anarchistic wave of music known as ‘punk’, to work as a photographer assistant. Coincidentally it was also the year the Ramones released their first album and punk idols Patti Smith, Television and Richard...
Issey Miyake Releases Exclusive Documentary
By Alice Ierace
Issey Miyake released an unpublished docu-film that shows the birth and evolution of the...
By Alice Ierace
Issey Miyake released an unpublished docu-film that shows the birth and evolution of the collection Homme Plissé Issey Miyake and shares a message of freedom, movement and comfort as new codes for men's clothing.Opening with a scene from Flying Bodies, a video that captures the 2013 performance...
Issey Miyake released an unpublished docu-film that shows the birth and evolution of the collection Homme Plissé Issey Miyake and shares a message of freedom, movement and comfort as new codes for men's clothing.Opening with a scene from Flying Bodies, a video that captures the 2013 performance of the Aomori University Men's Rhythmic Gymnastics Team which marks the debut of the collection, the...
OP-Ed: Is Voice Technology the Future of Retail?
By Elisa Carassai
Will the voice-operated assistant change the way we...
By Elisa Carassai
Will the voice-operated assistant change the way we shop?   The first time I came across Amazon’s Alexa, I was amazed by the fact that a voice-operated assistant could work so well. Having Siri on my iPhone, I had never really made use of the...
Will the voice-operated assistant change the way we shop?   The first time I came across Amazon’s Alexa, I was amazed by the fact that a voice-operated assistant could work so well. Having Siri on my iPhone, I had never really made use of the voice-operated system integrated inside my phone, as it would often fail to correctly execute my...
Cult Scandi Brand Cecilie Bahnsen Debuts Shoe Collection With Charles Keith
By Elisa Carassai
Joining forces this week are designers Charles & Keith and Cecile Bahnsen, who collaborated on an...
By Elisa Carassai
Joining forces this week are designers Charles & Keith and Cecile Bahnsen, who collaborated on an exciting shoe line inspired by traditional school-wear. The collection features some of the most classic Charles & Keith shapes and silhouettes which are reinterpreted by Bahnsen and finished with...
Joining forces this week are designers Charles & Keith and Cecile Bahnsen, who collaborated on an exciting shoe line inspired by traditional school-wear. The collection features some of the most classic Charles & Keith shapes and silhouettes which are reinterpreted by Bahnsen and finished with her signature brooch. Four various styles are featured including three Mary Jane designs and a...
Five CBD Brands That Are Doing it Right
By Ludovica Parisi
CBD is being marketed everywhere. From oils and topicals to edibles, there are now infinite ways...
By Ludovica Parisi
CBD is being marketed everywhere. From oils and topicals to edibles, there are now infinite ways to introduce cannabidiols in your lifestyle. However, as buyers get overwhelmed by the number of products being launched every week, companies have to work harder to stand out from the competition....
CBD is being marketed everywhere. From oils and topicals to edibles, there are now infinite ways to introduce cannabidiols in your lifestyle. However, as buyers get overwhelmed by the number of products being launched every week, companies have to work harder to stand out from the competition. So, what is the strategic approach to ensure people’s trust in a product? The answer lies in the...
Cuoio di Toscana Launches Campaign Against Domestic Violence
By Alice Ierace
Italian sole-leather brand Cuoio di Toscana, alongside many companies and institutions of fashion...
By Alice Ierace
Italian sole-leather brand Cuoio di Toscana, alongside many companies and institutions of fashion and luxury leather goods, shared their the commitment to defend women. “Violence against women does not go into quarantine: at the expense of the current moment of emergency, the numbers affecting...
Italian sole-leather brand Cuoio di Toscana, alongside many companies and institutions of fashion and luxury leather goods, shared their the commitment to defend women. “Violence against women does not go into quarantine: at the expense of the current moment of emergency, the numbers affecting this social injury show no sign of diminishing and, if we consider the case of domestic violence in...
Burberry Reports Significant Revenue Loss
By Rebecca Hitchon
Luxury fashion house Burberry has released its preliminary results for the past financial year...
By Rebecca Hitchon
Luxury fashion house Burberry has released its preliminary results for the past financial year ending 28th March, revealing the impact of COVID-19 on the business.Although the report discusses positive responses to its SS20 and AW20 collections and sales higher than expected earlier in the...
Luxury fashion house Burberry has released its preliminary results for the past financial year ending 28th March, revealing the impact of COVID-19 on the business.Although the report discusses positive responses to its SS20 and AW20 collections and sales higher than expected earlier in the year, the outbreak of COVID-19 in late January negatively affected the financial year. Store closures,...