BY LESLIE JORDAN CLARY

The Kering Group, a world leader in luxury goods that handles Bourcheron, Gucci, Saint Laurent and 18 other brands, was recently honored with the 2014 Global Leadership Award in Sustainable Apparel (GLASA) for its decision to implement the Environmental Profit and Loss account (E P&L) into its luxury, sport, and lifestyle brands. According to a Kering press release, the E P&L is the first account of this type to be developed, and after refining and improving the methodology, the E P&L “has evolved into a concrete management framework and financial tool that will be a benchmark for the entire industry.” This follows a growing trend in luxury goods to take a stand on environmental and other social issues including sustainability, fair trade, and ethical gemstone mining.

—April 30, 2014