Bureau Veritas, a world leader in inspection, compliance verification and certification services, has recognized Valentino for its commitment to integrating the values of inclusiveness and gender equality within the corporate structure of the luxury fashion house.
Valentino — which counts Florence Pugh and Yang Zi as ambassadors — received certification for gender equality, having reduced its gender wage gap to below 10 percent. The Roman fashion house is one of the first in the luxury industry to earn the recognition, which aims to promote a responsible approach by encouraging and incentivizing companies to implement appropriate policies designed to reduce the gender gap and support the professional advancement of women. The Recognition is part of the “Next Generation EU” (NGEU) program, a €750 billion (around $815 billion) package, about half of which consists of grants agreed on by the European Union in response to the recent pandemic.
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The attestation awarded by Bureau Veritas analyzed all of Valentino’s Italian companies, recognizing the value and commitment pursued by the fashion house to encourage inclusiveness within the corporate structure. The certification evaluates a series of qualitative and quantitative indicators, organized into six distinct macro-areas, offering a 360-degree comprehensive perspective on central issues related to gender equality: culture, strategy, governance, HR processes, opportunities for women’s growth and inclusion in the company, pay equality by gender, parental protection and work/life balance.
“Valentino has achieved a significant result in the area of pay equality, adhering to the guidelines and effectively reducing the gender pay gap to below 10 percent. This success confirms the brand’s commitment to ensuring internal fairness and the importance of maintaining this standard, aiming for continuous improvement to reduce the gap over the next three years,” reads a note released by the fashion house communicating the achievement of the important milestone. Valentino plans to further reduce its gender pay gap within the next three years.
Meanwhile, last December, following clearance from anti-trust authorities, Kering (owner of such brands as Balenciaga, Gucci and Saint Laurent) completed its agreement to take over 30 percent of Valentino. The deal, worth around $1.85 billion in value, will be part of a broader strategic partnership between the French luxury giant and Mayhoola for investments, the Qatari royal family’s fund that currently controls the Valentino and Balmain labels, which could become a future shareholder in the group headed by François-Henri Pinault.
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