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LVMH sets up employee support fund

Business

LVMH sets up employee support fund

By Danielle Wightman-Stone

8 Jun 2021

Luxury conglomerate LVMH has launched a global emergency and support fund for its 150,000 employees, with an initial endowment of 30 million euros.

The LVMH Heart Fund is aimed at supporting all of its staff around the world in more than 70 countries, helping employees suddenly faced with a “serious personal situation” by providing them with emergency financial aid as well as dedicated social and psychological support.

The fund will also include a free, anonymous and confidential support hotline.

Chantal Gaemperle, executive vice president, human resources and synergies at LVMH, said in a statement: “At LVMH, our people make the difference every day and are at the very heart of the group’s success. In return, it’s only fair that we support them and stand by them through the most difficult times that might occur in their lives.

“With this initiative – unprecedented in its scope – the Group has shown a new side of its deep social commitment to employees and put its core values into action by providing very concrete support to our employees faced with challenging circumstances.”

LVMH added that as an employer that it has a “responsibility to provide a safe, fulfilling work environment for its employees” and that the LVMH Heart Fund will offer its workers support during what it calls the “most difficult periods of their personal lives”.

Bernard Arnault, chairman and chief executive at LVMH, added: “Our group’s corporate social responsibility policy has been consistently ambitious for the past 15 years, particularly in the areas of Diversity and Inclusion, gender equality and disability.

“The success of a company is not only measured by its financial results but also by its contribution to society and the support it’s able to provide to its employees, wherever they are in the world. Commitment is one of our core values, and the launch of the LVMH Heart Fund is yet another example.”