{"id":3487,"date":"2019-11-09T10:07:02","date_gmt":"2019-11-09T10:07:02","guid":{"rendered":"https:\/\/graziamagazine.com\/me\/?post_type=articles&p=3487"},"modified":"2021-04-13T10:39:57","modified_gmt":"2021-04-13T10:39:57","slug":"prada-becomes-the-first-luxury-brand-to-sign-sustainability-deal","status":"publish","type":"articles","link":"https:\/\/graziamagazine.com\/me\/articles\/prada-becomes-the-first-luxury-brand-to-sign-sustainability-deal\/","title":{"rendered":"Prada Becomes The First Luxury Brand To Sign Sustainability Deal"},"content":{"rendered":"
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PRADA SS18<\/figcaption><\/figure>\n

In a first for luxury fashion, Prada has announced it has inked a \u20ac50 million (Dhs200 million), five-year sustainability term loan with Cr\u00e9dit Agricole Group.<\/p>\n

The terms of the agreement allow for interest rates to be adjusted annually based on certain sustainability goals being met. For instance, the rates will decrease should the luxury fashion house use a certain amount of Re-Nylon (a sustainable nylon substitute); certify its stores as LEED Gold or Platinum; or provide employees with a set number of training hours.<\/p>\n

\u201cThis transaction demonstrates that sustainability is a key element for the development of the Prada Group, increasingly integrated into our strategy,\u201d said Prada\u2019s chief financial officer, Alessandra Cozzani, in a statement.<\/p>\n

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A post shared by Prada (@prada)<\/a><\/p>\n<\/div>\n<\/blockquote>\n