In its first analysis of the environmental and social records of luxury brands, the WWF-UK handed out mostly failing grades.
The WWF-UK's report, Deeper Luxury, graded the 10 largest publicly-traded brand-owners based on their self-reported performance and views by the media and non-governmental organizations. The report looked at the brands' actions and reputations related to environmental, social and governance issues.
L'Oreal tops the list with a C+, followed by Hermes and LVMH, each of which also earned a C+. Next is Coach with a C; Tiffany & Co. with a D+; Swatch, PPR and Richemont, all with D's; and rounding out the list is Bulgari and Tods, each with an F. Some of the brands owned by the companies include Gucci, Yves Saint Laurent, Garnier and Louis Vuitton.
"This report is a call to action for the world's top brands to improve the way they do business," said Anthony Kleanthous, senior policy adviser for WWF. "Luxury companies must do more to justify their value in an increasingly resource-constrained and unequal world."
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