We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Sep 25, 20208:43pm

Prada signs fifty-million sustainability related loan

The Italian luxury company has made a five-year deal with Crédit Agricole Corporate and Investment Bank that will adjust to the group’s sustainable goals.

Nov 5, 2019 — 4:13pm
mds
Related topics
Save

Prada signs fifty-million sustainability related loan

 

 

Prada gets fifty-million loan. The Italian luxury company is the first in the sector to receive a sustainability term loan. The company has signed a deal with Crédit Agricole group to obtain fifty million euros in five years.

 

The interest rate can be reduced following the achievement of targets related to: the number of stores assigned with a 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, according to WWD.

 

“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,” stated Alessandra Cozzani, Prada’s chief financial officer, in a statement. Prada ended its last fiscal year at double speed. The result of the group shrank 10% in 2018, to 324 million euros, while sales rose 2.8%, to 3.1 billion euros.

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...