Chanel hires first head of diversity to boost values

Chanel has published a new sustainability initiative to directly address climate change and the role the luxury fashion label and retailer can play in lowering its carbon footprint.
Chanel's plan aims to tackle climate change in line with the 2015 Paris Climate Agreement.
// Chanel hires global head of diversity & inclusion
// Fiona Pargeter joins the newly-created role to boost company values
// Net profits grew 16.4% to £1.72bn in the year to December 31

Chanel has bolstered its diversity values by appointing Fiona Pargeter to the newly-created role of global head of diversity and inclusion.

Pargeter was most recently the EMEA head of diversity and inclusion from 2014 to 2019 and director in leadership, talent, performance and diversity from 2013.

She also had several roles at Swiss bank UBS between 1999 and 2019.

Her appointment comes as other luxury retailers strove to demonstrate their values by launching diversity campaigns.

In February, Prada formed a diversity council after its use of blackface imagery in its Pradamalia range was met with controversy.

Meanwhile, Gucci invested $10 million (£7.63 million) into a new programme in March which aimed to encourage diversity and inclusion within the company after being embroiled in a blackface scandal.

In the year to December 31, Chanel saw its net profits grow by 16.4 per cent to $2.17 billion (£1.72 billion), primarily driven by strong growth across all categories.

Its revenue also rose 12.5 per cent to $11.12 billion (£8.8 billion), while operating profit was up eight per cent to $2.9 billion (£2.3 billion), compared with the same period in 2017.

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