GUCCI EQUILIBRIUM

IMPACT Report 2021

Introduction

LETTER FROM

2021 was a very
special year for Gucci.

OUR CEO

As we celebrated our 100th anniversary, we also celebrated
the continuation of our legacy to experiment and evolve for anever-changing world. We looked to our past in order to define our
future, which we now know is implicitly linked to the future of theplanet that we call home.
This year, I am pleased to share our second annual Gucci
Equilibrium Impact Report, expanding on many of the initiatives wehave created, and the progress we have made, to generate positivechange for people and the planet in 2021.
As you all know, it was a year wrought with generation-defining
challenges around the world. The COVID-19 pandemic entered
its second year and the most recent Intergovernmental Panel on
Climate Change (IPCC) report made it clear that it has never been
more urgent, or more vital, for us to make progress within ourcommunity of people— as well as the planet they inhabit.
For us, purpose and progress are paramount to the very ethos ofGucci. Our mission is to encourage everyone to express their fullselves: their gender, sexuality, race, ethnicity, culture and disability.
This ethos also extends to the planet, as well as the way we work andthe methods and materials we use to make our universe come to life
through our myriad products. Over the last year, our commitments
to building a responsible and sustainable business have been just as
important as our creative identity. In fact, we see our creativity as
our strongest tool for finding new solutions to move forward into
a better future.

MARCO BIZZARRI
President and CEO, GUCCI
Gucci Equilibrium Impact Report 2021

PeopleEven before the spotlight was shone brightly on social injusticeand inequities in 2020, we have taken responsibility to ensure
lasting changes — through CHIME FOR CHANGE as well as our
CHANGEMAKERS programs and, like so many, we still have along way to go.
Photographer: Piotr Niepsuj

Indeed, the talk of needing deep, systemic change across ourindustry must be put into real practice and we take our role toinfluence this change very seriously. Working with leaders in various
communities and fields to bring a new generation of thinkers, makers
and activists into our universe, many of whom we have the honour offeaturing in this report.
In 2021, we are proud to have made major sustainability
achievements inside our company, and far beyond, which aredetailed throughout this report. I am especially proud of the
progress we have made on diversity and inclusivity, including genderequality and accessibility. Diversity is an integral part of our culture;it drives creativity and we embrace everyone’s unique qualities.
Part of our vision for “responsible” luxury includes transforming the
supply chain so we can give back to nature — not just minimise our
impact on it, as we have done by reducing KPIs like carbon emissions
and manufacturing waste. What is exciting is that we can literally
use our own supply chains to do this. Regenerative agriculture is alever for luxury and fashion to help reverse the trajectory of climatechange and biodiversity loss, and our ambition is to source
regenerative raw materials for our collections in order for us
to continue to innovate in design and manufacturing.
Today, one of the greatest obligations is to care for the planet andto develop creative ways of striving for beauty and self-expression.
As we’ve discovered, there are so many opportunities and technicalinnovations opening up for our industry to upend the age-old
conventional systems and create lasting positive change.
Reflecting on the past 100 years of Gucci has made it clear that ourcollective future must evolve into something very different. Looking
forward, we will be championing the new and exciting possibilities
for us to further balance the equilibrium of people and the planet.
A century from now, we want the decisions and actions that we
make now to be ones that future generations will be proud of.

PlanetIntroduction

ABOUT US

Gucci is part of the global luxury group Kering, which manages thedevelopment of a series of renowned Maisons in fashion, leather
goods, jewellery and watches.

PlanetGucci Equilibrium Guiding Our Way
Gucci Equilibrium is our commitment to generate positivechange for people and our planet.

Innovative, progressive, and influential,
at Gucci we are creating a wholly
modern approach to fashion.
Under the leadership of President and CEO, Marco Bizzarri,and the vision of Creative Director, Alessandro Michele, wehave redefined luxury for the 21st century, further reinforcing ourposition as one of the world’s most desirable fashion houses. Eclectic,
contemporary, romantic–Gucci collections represent the pinnacleof Italian craftsmanship and are unsurpassed for their quality andattention to detail.

PeoplePowered by creativity and collaboration, we are reducing
our environmental impact and protecting nature, while alsoprioritising inclusivity and respect, so that everyone in our global#GucciCommunity is free to express their authentic, diverse selves.

Key Numbers in 2021

€9,731M in revenue

Building on momentum from our 100th anniversary, we are moving
forward into the coming decades with an ongoing commitment toreinforce our culture of purpose, demonstrating our values throughinnovative pathways towards social and environmental sustainability.
Gucci Equilibrium unifies the principles we uphold and the actions
we pursue to treat our world and each other better, for ourcollective future.

Contents
INTRODUCTION
Letter from Our CEO

2

About Us

3

Generating Positive Change for People and Our Planet

4

Our Approach

5

Our Journey

6

PEOPLE
501 directly operated stores

20,911 employees

Over 20,000 people
work for Gucci, indirectly
throughout our supply chain

Empowering a Strong and Caring Culture

8

Promoting Equity for Everyone

10

We look at the world around us in a holistic way and believe that it isour duty to be sustainable, responsible and accountable in everything
we do. What we stand for, and how we act towards one another andour planet, is at the very core of who we are.

CHIME FOR CHANGE

15

Preserving Craftsmanship and Supporting Suppliers

18

Creating Positive Change in Communities

20

Our second annual Gucci Equilibrium Impact Report highlights theinitiatives we’ve created, and the progress we’ve made, to generate
positive change for people and our planet in 2021. To share tangible,
transparent and measurable change we’ve included the metrics for
key projects, as well as our performance across stores, offices,
warehouses and factories where we have direct operational control,and our supply chain. Our 2021 Environmental Profit and Loss account
was verified by a third-party and covers the environmental impacts
associated with our activities across our entire supply chain in regards
to greenhouse gas emissions, air and water pollution, water
consumption, land use, and waste production.

PLANET

About This Report

Environmental Profit & Loss

25

Tackling Climate Change, Reducing Our Overall Footprint

26

Materials Matter, Innovating for the Future

30

A Circular Vision to Recover, Reuse, Recycle, Relife

33

Protecting and Restoring Nature

37

METHODOLOGY AND REPORTING

41

Introduction

GENERATINGPOSITIVE
CHANGEFOR PEOPLE& OUR PLANETPEOPLE

PLANET

Together, we’re focused on the critical aspects
that affect our employees, our industry andour communities while envisioning newopportunities for the future.

We protect biodiversity and embracenature-positive strategies for the future
while seriously reducing our footprint acrossour direct operations and our supply chain.

Empowering an inclusive, caring working environment
and leveraging our strong Gucci culture

Attaining 100% traceability for our raw materials by 2025

Promoting inclusivity, equity and gender parity

Developing eco-friendly sourcing solutions,innovative materials and processes

Achieving gender pay equity for equivalent positions by 2025

Using 100% renewable energy
worldwide by the end of 2022

Driving positive change in our communities and supply chain

Moving to a nature-positive approach

Protecting our heritage and supporting the continuation ofcraftsmanship traditions

Championing regenerative agriculture

Tackling climate change by
reducing our overall footprint

PeoplePlanetIntroduction

OUR

APPROACH
Change Through Action

Creativity Helps Us Create Change

Making Actions Speak Loudest

We don’t just take a stand on the critical issues facing our world
today, we take action. We’re committed to moving away from theold, traditional systems in fashion and working across our ecosystem;
drawing on our diverse strengths and talents to drive change for the
better. We encourage greater and more far-reaching change throughcollaborative efforts and partnerships. Together, we can have a bigger,
positive impact than we ever could on our own.

Our distinctive way of creating positive change is rooted in our values,
our culture and our creativity. It’s who and what we are and when weapply it to achieve breakthroughs in sustainability, we see results. We areconstantly exploring and innovating for the future. Take Demetra. After
two years of research and development by Gucci’s own technicians andartisans, we presented this new luxury material that combines quality,
softness, durability, and scalability with an animal-free and eco-friendly
ethos. We are fully committed to making ground-breaking changes
across our supply chain with an eye on the long-term.

We zero in on the issues that have the biggest positive impact andwhere we can influence and create momentum. For example, we support
artisans and protect the craft skills at the heart of our heritage and sector.
We have a Global Equity Board who are responsible for overseeing ourcompany culture and employee experience, and we’re also championing
gender equality through CHIME FOR CHANGE. When it comes to having
a reduced impact on the planet, we’re increasing the sustainability of our
supply chain and our products, including creating circular collections
and investing in regenerative agriculture. All our emissions we can’t
reduce ourselves, we translate into protecting and restoring nature.
We are committed to doing our part to help mitigate climate change
and reverse the trajectory of biodiversity loss for the future.
Behind our efforts we are transparent and we hold ourselves accountablefor everything we say and do. We measure our entire environmental
footprint, taking responsibility for all our impacts, both from our direct
operations and the entire supply chain, and publish our Environmental
Profit and Loss account every year. We’ve set clear goals and targets,from achieving gender pay equity to reducing our greenhouse gas
emissions by 50% by 2025. We also ensure accountability both throughinternal governance and external advisors and partners. As a result, we
can assure our stakeholders and encourage ourselves to keep driving
forward towards our vision of sustainability.
Simply put, all of us at Gucci are playing our part to create a moresustainable, fairer and equitable world. In other words, we’re bringing
the Gucci Equilibrium way of life to all of us.

PeoplePlanetIntroduction

OUR

PeopleJOURNEY

2007

2009

2013

2015

2018

2020

We were the first luxury brand toobtain SA 8000 (Social
Accountability) certification
combining criteria such as
business ethics, respect forpeople, workplace health andsafety, and equal opportunity.
We’re also a member of SAI’s
Advisory Committee.

We were awarded our first
LEED (Leadership in Energy andEnvironmental Design) certificate forsustainable buildings in 2009. Today
we have over 60 certified retail andcorporate buildings around the world.

Together with co-founders Salma Hayek
Pinault and Beyoncé Knowles-Carter,
we launched CHIME FOR CHANGE to
convene, unite and strengthen thevoices speaking out for gender equality.
As of 2021, we’ve raised more than $19
million USD for 457 non-profit projects
worldwide, directly serving more than
630,000 girls and women and reaching
more than 3 million family andcommunity members.

We launched our 10-yearsustainability strategy, Culture of
Purpose. We committed to ambitious
targets, including reducing our total
footprint by 40% and greenhouse gas
emissions by 50% while also achieving
gender parity by 2025. In 2020, we
surpassed our total reduction target
four years ahead of time reachinga -44% reduction and, in 2021 wereduced it by -49%.

We’ve been carbon neutral acrossour supply chain since 2018,translating all our remaining
greenhouse gas emissions every year
into nature conservation. We protect
craftsmanship skills for the next
generation and launched Gucci
École de l’Amour to pass on the skills
that are critical for our artisanalcraft and production methods.

We launched the Gucci Off The Gridcollection: our vision of circularity,
promoting the regeneration of materials
and textiles. Our Gucci Off The Grid
product range now includes more than
70 products from shoes to accessories
and luggage, including elements in
Demetra, our pioneering animal-freeand eco-friendly material. We also
debuted our new packaging in 2020,
created with strategic design choices
to have a reduced impact on nature.

2008

PlanetWe’ve been measuring andmonitoring the global
environmental impacts associatedwith our direct operations every
year, focusing on energy, water,
paper consumption and waste
production. Since launching oursustainability strategy in 2015,
we’ve decreased the average
consumption of energy per
employee by 36%.

2010
We launched our sustainable mobility
initiatives. As of 2021, around 50%
of our company cars were electricor hybrid vehicles. Additionally, alldeliveries from online purchases
are carbon neutral.

2011

2014

2016

We received the ISO14001 (Environmental
Management System) certification, andwe started using our Environmental Profit& Loss accounting to measure our impact
on the environment. We extended theannual measurement of our footprint toincorporate the entire supply chain,analysing greenhouse gas emissions, water
consumption, water and air pollution,
waste production and land use.

In 2014, we began developing our first metal
and chrome-free leather products, which welaunched in 2015. Using alternative metal
and chrome-free tanning process reduces theenvironmental footprint when compared to
traditional methods. We’ve scaled up metal
and chrome-free leather from 0.2% to 40%
of our total leather production as of 2021,
with a goal to achieve 100% metal or
chrome-free tanning by 2025.

We’ve been working towards
ensuring 100% of our raw
materials can be traced throughour entire supply chain by 2025.
We achieved 95% overall
traceability in 2021 with 99%
traceability for plant-based andanimal-based, including leather.

2012
We began experimenting with innovative materials,
such as using a compostable bio-plastic in our
footwear. Since then, we became the first luxury
brand, in 2016, to use ECONYL© recycled nylon
in ready-to-wear, and, in 2021, we presented our
new animal-free and eco-friendly material DEMETRA.

2017
We stopped using fur starting fromour 2018 Spring/Summer collection.
At the same time, we decided tostop using angora. Since early 2018
we have not used any fur fromanimals whatsoever.

2019

2021

To empower our employees to make a difference intheir local communities, we launched our Gucci
Changemakers Volunteering Program. It allows every
Gucci employee to dedicate up to four paid days ofleave a year to volunteer with NGOs. In the same year
we also launched the Gucci Changemakers North
American Impact Fund and Scholarship Program in
the US. Furthermore, with the ambition of defining theoverall vision and priorities for Diversity, Equity andInclusion, we established a Global Equity Board,
responsible for informing our company culture andemployee experience. We also held the first-ever ISO
20121 certified fashion show in 2019, extending andachieving certification for fashion shows andadvertising campaigns from 2020.

We joined UN Women’s Generation Equality
Action Coalitions as the private sector lead of
the Feminist Movements & Leadership Action
Coalition, a 5-year commitment designed toaccelerate actions and global commitments
toward gender equality by 2026. As a leadpartner of the Women’s Forum Italy, we signed“The Women’s Forum CEO Champions
Commitments” consisting of ten workable
recommendations that empower our pledge ofachieving gender equality towards a Zero
Gender Gap. We also launched Gucci’s
Natural Climate Solutions Portfolio to protect
and restore critical forests and mangroves,
while also investing in regenerative
agriculture. Furthermore, we received the“Welcome. Working for Refugee Integration”
award by the UN Refugee Agency (UNHCR)
for the 3rd year in a row.

Introduction

PeoplePlanet2021 HIGHLIGHTS
Together, we’re focused on the critical aspects that affect our employees, ourindustry and our communities while envisioning new opportunities for the future.
Promoting Inclusivity, Equity and Gender Parity

PEOPLE

Increased employee diversity in corporate and retail, with 58% female
members in management roles and 42% female members in senior
management roles

Under Gucci Changemakers Global Volunteering, 1,700 employees
volunteered over 9,800 hours, supporting more than 140 NGOs in
88 cities around the world

Promoted an inclusive workplace by providing unconscious bias trainings
to over 6,000 employees and an additional 6,000 employees completingthe digital training path on DE&I

Supported over 25 organisations globally directly impacting 62,526
women and girls through our global campaign for gender equality
CHIME FOR CHANGE

Created greater opportunities for Disabled people in our workplaceand established partnerships with organisations specialisedin cultivating underrepresented talentContributed to UNICEF’s equitable delivery of COVID-19 vaccineswith over 200,000 vaccines kits in some of the most vulnerable global
communities on behalf of the Gucci Community

Achieving Gender Pay Equity for Equivalent Positions by 2025

Joined the UN Women’s Generation Equality Forum as the private sector
lead on the Feminist Movements & Leadership Action Coalition to accelerate
equality, leadership and opportunities for women and girls worldwide

Began analysing global gender pay parity in over 45 countries

Set up the first-ever green financing programme in Italy with Intesa Sanpaolobank as an expansion of our ‘Sviluppo Filiere’ programme to support our
suppliers in their transition to sustainable and inclusive practices

Signed the “Women’s Forum CEO Champions Commitments”
at the Women’s Forum G20 in Milan

Started developing our first Gender Gap report with an initial focus
on our workforce in Italy to better enable us to identify opportunities
and implement actions to promote an inclusive culture

GUCCI 100 campaign
Photographer & Director: Joshua Woods

Driving Positive Change in Our Communities and Supply Chain

Protecting Our Heritage and Supporting theContinuation of Craftsmanship Traditions
Gucci École de l’Amour, our centre of industrial craftsmanship and innovation,
provided technical training to 461 employees in 2021 via the ArtLab andFactories Academy, totalling 650 since its establishment in 2018

Introduction

EMPOWERING A

STRONG& CARING

Inviting Inclusivity
We offer opportunities to build an inclusive andopen community. One that is welcoming, accessible
and equitable, where anyone can participate
and belong.

Adapting for Our Community
The COVID-19 pandemic continued to challenge us
to reimagine an agile and inclusive environment in
2021, where our people are empowered and trusted
to perform at their full potential, feeling engaged
and proud to be part of the Gucci Community. A
flexible model for our offices established at thestart of the pandemic, enabled our employees’
experiences to move seamlessly between physicaland virtual spaces, with the right customisation andalternance and in compliance with strong safety
protocols. Our shift to digital has been particularly
evident in development initiatives and trainings. In
2021, digital learning deepened even further andevery employee attended, on average, 17.3 hours ofdigital and/or in-person training resulting in morethan 386,000 courses attended, with retail covering
242,995 training hours, corporate equalling 40,352
training hours and production sites participating in
24,034 hours of training.

CULTUREWe are passionate makers,
thought-leaders and, above all,dreamers at Gucci. We imagine,
we explore, we build.
Our journey is shaped by equity, empathy and desire. Aimed
towards sustainability and social change that impacts the wider
world. Our employees are invited to a purposeful place, where theirunique voice and talents are celebrated and empowered in a joyfulcommunity of changemakers.
We encourage our people to feel free to express themselves and tobelong to a global community where passion, imagination, and desire
are nurtured as key drivers of professional success. An inclusive
environment where each individual will embrace the same values
and contribute to the evolution of the fashion industry and beyond.

Expressing Yourself

Breaking New Ground

Being who we are creates the fabric of
Gucci. A place where our unique selves
nurture extraordinary collaborations.

With imagination and curiosity, we
push the boundaries and develop new
perspectives to foster creativity.

PeoplePlanetIntroduction

Shaping Young Talents Globally
At Gucci, we invite global talents to a place where people
are seen for who they are, where they are empowered toexpress themselves. We are constantly looking out for the
next young talents around the world to become part of our Gucci
Community, where unique possibilities come to life. Our Gucci Retail
Graduate Program is one of the starting points on this journey,
providing students with opportunities and hands-on experience
to support the development of their careers for the future.

The Gucci Retail Graduate Program in Numbers
Received over
2,500 student
applications

Selected 7 graduates
to complete 2-year
development training

We always want to inspire a sense of belonging in our retail
employee experience, where our people can shine as storytellers,
stylists, and passionate leaders. We give people the possibility to
express the best version of themselves and unleash their talents.
Within the Retail organisation we offer dedicated learning journeys
and many opportunities for growth. This helps us be an employer ofchoice and attract the right talent. To develop young talentsinterested in the embarking on a retail management career, welaunched the Gucci Retail Graduate Program in 2021. Focused on
recruiting academically excellent students from EMEA who have
graduated in the past two years, the development programme isover a 24-month period with an end goal to hire new TeamManagers in our stores. The selected talents rotate every three to
six months, gaining experience in the store environment, andacross four different retail supporting functions, such as retail
performance, merchandising, client engagement, and operations.

In its first successful edition, over 2,500 applications werereceived from young graduates all over the world and seven
exceptional students were selected to complete the two-year
programme, who were also hired on a permanent basis in the
Gucci stores involved in the programme. Following on from theprogramme’s success, we’ve extended it to China, Korea andSouth Asia & Pacific starting in 2021.

Pursuing a career in luxury retail at Gucci means that every day
you face new challenges, obstacles and objections as well as
dealing with different type of clients and people and different
kind of products and trends. All this represents a challenge thatwill enhance your skills. If I had to describe the Gucci Grade
Program in 3 words, I would say that by being curious, passionate
and by being yourself, you will succeed in Grade. The biggest
takeaway of GRADE is to lead by love and to always lead byexample. You will also learn how important your opinion is.”
MARIANA,
2021 Gucci Retail Graduate Program,
Mall of Emirates, Dubai

The Gucci GRADE Program challenges me to strive to be the best, tobe one of a kind and with passion. To me, the charisma of luxury retail,is not only to sell high quality products, but also to provide hope,imagination, and happiness to customers. The nature of retail isfast-paced and ever-changing therefore there are always surprises
filled with rewarding challenges. If I had to describe the Gucci Grade
Program in 3 words, I would say curiosity, creativity and empowerment.
To all the people wishing to take part to the programme, I say that
there are always opportunities for those who dare to dream big,
therefore, never underestimate your abilities, always think criticallyand stay curious in the ever-changing environment around us.”ESTHER,
2021 Gucci Retail Graduate Program,
Selfridges, London

PeopleOur Community Supporting Global
Vaccine Equity with UNICEF
During the evolving trajectory of the COVID-19
pandemic significant inequities in the distribution of
vaccines have continued to put the global community
at risk and exacerbate socio-economic repercussions.
Closing the vaccine gap has been a central focus for
Gucci since the start of the pandemic. In 2021, we
continued to build on our work with UNICEF andsupport the equitable procurement and distributionof vaccines in the most vulnerable communities
around the world. In December 2021, on behalf of ouremployees, we contributed to UNICEF’s equitabledelivery of COVID-19 vaccines via the COVID-19
Vaccines Global Access (COVAX) initiative,
established by the WHO, UNICEF and other partners.
This initiative followed Gucci’s $600,000 USD
donation to UNICEF USA in December 2020, and over
200,000 vaccines on behalf of the Gucci Community
in 2021. Furthermore, in May 2021, when we presented
our first NFT—a unique artwork drawn from the Gucci
Aria campaign film in a special auction on
Christie’s–we donated the proceeds to UNICEF USA
as further support to UNICEF’s global equitable
access to COVID-19 vaccines.

From day 1 of this pandemic – even before COVID-19 wastechnically defined as a pandemic – we said, with no hesitation, that
only science would help us emerge from the darkness. And we madea clear commitment with these words: we are all in this together.
Now, after almost two years, we believe in this affirmation, morethan ever – if vaccines aren’t available to all, the pandemic will
never truly end. This is why we created an internal initiative in which
the entire company – all 20,000 of us at Gucci, united as one–donated 200,000 COVID-19 vaccine kits to UNICEF, strengthening
our support in ensuring that vaccines are equitably procured anddistributed to the most vulnerable communities around the world.”

MARCO BIZZARRI,
President and CEO of Gucci

PlanetIntroduction

PROMOTING

EQUITYWe recognise, respect, and celebrate what makes us unique,championing diversity in all its forms and in any dimension,
visible or invisible, which can be used to differentiate groups
and people from one another.
To foster a sense of belonging where everyone can contributeand develop as who they are, we’ve focused our efforts onsome key objectives that represent our ambitions:Global Generations

Ensuring an inclusive workplace by providing
educational trainings, learning opportunities,
resource groups and open dialogue to increase
communication, understanding and empathy

U.S. Race & Ethnicity

Global Gender
Total

Total
1.1%

1.2%

4.2%

Native Hawaiian
or Other PacificIslander

9.7%

BoomerIncreasing diversity in corporate andretail, with specific targets reflecting each
global region

By placing diversity at the core of
our culture, everyone in our Gucci
Community can thrive as theirtrue and diverse selves.

PlanetRepresentation in Numbers 2021

FOR EVERYONE

EMPOWERING DIVERSITY,
EQUITY AND INCLUSION

PeopleGen Z

Two orMore Races

0.3%

25.9%

36.7%

Gen X

Male

AmericanIndian or
AlaskaNative9.0%
28.3%
Hispanicor Latino

14.7%

I do notwish toanswer

Asian

63.3%
63.2%

Female27.1%

Millennials

White

Achieving gender pay parity forequivalent positions by 2025

Management

Management
1.3%

Creating greater opportunities for
Disabled people in our workplace

2.5%

Native Hawaiian
or Other PacificIslander0.4%

Adopting non-binary and gender-expansive
language for gender self-identificationinternally and externally

15.3%

Black orAfricanAmerican

42.0%
58.0%

Male

AmericanIndian or
AlaskaNativeTwo orMore Races

6.7%
23.1%

Hispanicor Latino

Female

13.7%
Asian

10.1%

42.0%
White

I do notwish toanswerBlack orAfricanAmericanIntroduction

PeoplePUTTING PEOPLE FIRSTOUR ACTIONS

Combining diversity, creativity and innovation underlines our visionof our future. Laying the necessary building blocks, we’re increasing
diversity and inclusion across our company, and we’ve establisheda strong foundation of gender equality and female leadership.

Attracting, Recruiting and Selecting Talent

Supporting Women and Gender Pay Parity

Partnering with organisations specialising in underrepresented talent to develop
a more diverse pipeline of candidates

Analysing global gender pay parity in over 45 countries to support our 2025
target achievement

Expanding inclusive practices for hiring and interviewing to focus ondiverse leadership

Developing our first Gender Gap report

Our global People strategy reinforces diversity, equity andinclusion (DE&I) and, in 2019, we established a Global Equity
Board responsible for defining the overall vision and priorities
to inform our company culture and employee experience. From
recruiting and inclusion, to development and mobility, we’ve created
opportunities for open dialogue, to strengthen our shared values
and create an inclusive environment where everyone is valued
and treated fairly.

Reinforcing our commitment to gender equality by signing the Women’s ForumCEO Champions Commitments at the Women’s Forum G20 in Milan in 2021

Increasing our global Human Resources and Talent Acquisition Teams focused on
furthering inclusive hiring

Combatting domestic violence and, in collaboration with the Kering Foundation,
providing courses on domestic violence, training more than 400 ambassadors
between 2013 and 2021

Awarding scholarships for university students from diverse backgrounds who are
pursuing careers in fashion through the Gucci North America Changemakers
Scholarship Program
Providing internship and mentorship in Gucci North America through the Gucci
Program for Scholars

Developing, Engaging and Retaining Employees

Creating Greater Opportunities for Disabled People

Generating professional development and mentorship opportunities through career
growth programmes, educational trainings and global exchange programmes

Building a more inclusive workplace and customer experience, we piloted
programmes starting in North America with the aim to improve the accessibility
and experience in our stores

Educating employees through a digital training programme, focused onunderstanding and recognising unconscious bias, working in an inclusive team andoffering an inclusive client experience. Launched in September 2021, the training ispart of on-boarding new hires and over 6,000 employees have completed it

Increasing disability representation among our teams and ensuring staff is trained
to bring greater awareness to accessibility and inclusivity
Launching the “Accessibility is True Inclusion” workshop in 2021, which will bemandatory for all employees in Gucci North America as part of our upcoming
Unconscious Bias workshops, and extended to Europe at the beginning of 2022with plans to expand to Latin America, South Asia and Pacific to ultimately cover
all employees by 2023

Supporting a community of belonging with our Employee Resource Groups focusedon diverse communities, Disabled people, women, and their allies at Gucci, andLGBTQIA+ at Kering
Protecting the rights of LGBTQIA+ individuals and upholding the UN LGBT BusinessConduct Standards

Enhancing opportunities for employees within Gucci Americas and participating in‘Guccibility’, our Employee Resource Groups focused on disability

Continuing to promote refugees’ integration and employability in Italy at our offices
and factories

Launching ‘Coloriamo l’invisible’ in Italy for people with Asperger’s syndrome andcollaborating with local specialised associations to hire people with Down
Syndrome in one of our factories

Connecting employees with local communities through our Gucci Changemakers
Global Volunteering Program

Adopting expansive language and improving self-identification options for
employees in 2021 as part of Gucci’s overall mission to promote self-expression of
all diversity dimensions, including: employees within our Gucci North America
team now have the ability to self-identify as having visible or invisible disabilities,
and also have the option to use gender expansion language to self-identify genderin a non-binary way as well as self-identify sexual orientation

Sharing our internal "Our Impact on Future" series, representing an open
conversation to discuss company progress on various themes like inclusivity,
diversity and the environment

Gucci Changemakers Global
Volunteering with Artolution

PlanetIntroduction

PeoplePlanetQ&A WITH SINÉAD BURKE
CEO, Tilting the Lens
Q: Why is representation important and how can companies move theneedle forward, faster to support Disabled people in the workplace?
A: Have you ever been in a situation where you felt as if you did notbelong, or based on an identity you hold, there was no one else like you?
That experience is almost universal and cuts across gender, sexuality,
race, religion, class, disability, geography, age and many other signifiersof who we are and how we live. Representation is important as it
illuminates a trajectory of what is possible, and it cultivates
psychological safety and fosters belonging.
But representation cannot be limited to the image and marketing,though these pillars are vital. Representation must be embedded in
the fabric of organisations and be an integral value of how we work.
To move the needle faster, we must design holistic strategies whereinambitions are measurable, resources are invested and the commitment
is cross-departmental—from human resources, to finance, to legal, tostore planning, to design, to marketing, to the executive leadership team.
To support Disabled people in the workplace, we must be educated andcraft a shared understanding on what Disability is. Post-pandemic, we are
more aware than ever of the spectrum of Disability, encompassing visible
and invisible disability. We must build a pipeline—reach into educational
institutions to support the next generation of talent. We must partner withleading organisations, to learn from their expertise and to work with Disabled
people to build solutions. We must create spaces (digital and physical) that aredesigned for everyone, from the beginning. We must tell stories that provide new
narratives about Disabled people. But mostly, we must start.

Often, this work feels overwhelming. We acknowledge that there isso much to change, but where do we begin, and what is the perfectsolution? We must map out short term and long-term objectives,and prioritise work where we can witness transformation. This willencourage us to implement our strategy and will encourage thewider organisation to see the value in this work, and the ways inwhich we can all participate and build creative solutions.
Q: You have been working with Gucci for a few years now to help
us embed principles of disability inclusion across our company.
What are some key actions you helped to implement and what canbrands do to help make the world a more equitable and accessible
place overall?
A: At Gucci, we are implementing a strategy that is sponsored by theCEO, and is activated by employees at every level, across all regions.
This has built an internal ecosystem that supports its long term
progress and sustainability.
As shared in the report, we are delivering on our educationcommitments, and raising employees to a shared understandingof Disability and accessibility. We are leveraging technology and AI
opportunities to provide modern solutions to systemic challenges.
We are witness seismic change due to the power of the human story,
and we are being intentional about our increasing representation of
Disabled people in our internal and external messaging.
We are building a place–be it in corporate, retail or the metaverse—
where everyone feels considered and designed for. This leans on

Gucci's pillars of customisation, innovation and empathy.
We're extending our invitation and welcome to all.
Q: How do you see progress in future?
A: We are beginning to see a shift in the valuation of accessibility—
this is because of demographics, research and legislation. For
example, we know that 2 Blind people, per month, exit out of an
e-commerce transaction due to a lack of digital accessibility. This
need is accelerated by the upcoming Web Accessibility Directivefrom the EU mandating digital accessibility for publicly fundedorganisations. In real time, we are having to retro-fit platforms todesign for those who should have been accommodated andincluded from the outset.
We also know that by 2030, in the US for example, those whom wecurrently consider to be in the 'minority', will then be in the 'majority'.
We also know that globally, within this same period 60-80% of
wealth will be owned by those who are 60+ years old. The market ischanging and flexibility in how we design work, policies, products,
stores and campaigns is shifting to an audience that is no longer the'other'. Accessibility is not a nice to have, nor is it a cost, but an
investment in a fundamental principle of how we will need toundertake business forever more.

Introduction

Amplifying Women Voices
In October 2021, we played host to the G20
Women’s Forum in Milan, a global platform
putting women’s voices at the centre of building
a more inclusive and prosperous economy. The
three-day event covered topics ranging fromgender equality, climate change and health, totech in G20 countries. The Forum resulted inactionable outcomes including a Call to Action,‘A She-Covery for All’ presented to the G20
leaders convening in Rome and “The Women’s
Forum CEO Champions Commitments” signed
by Gucci consisting of 5 key strategic actions
to accelerate the transition towards the Zero
Gender Gap. The CEO Champions workshop
was a highlight of the Forum, gathering morethan 40 CEOs and institutional representatives,
including Gucci, to discuss the best practices
and policies in favour of gender equality to be
implemented and scaled up, particularly in lightof the post COVID-19 recovery plans.

The Women’s Forum CEO
Champions Commitments

1

Continue to mitigate the impacts ofunconscious bias from our hiring andpromotion processes

2

Establish aspirational female
recruiting and promotion targets

3

Support female talent retention
and advancement

4

Ensure that equal pay for equal
work is in place and effective

5

Regularly measure, monitor, andevaluate progress in all of theabove actions

PeopleFirst-ever Gender Gap Report
As an important milestone in closing the gendergap for companies, in 2021, we committed toperform an in-depth analysis of our workforce in
Italy, with an initial focus on our employees acrosscorporate, stores and factories. Developing agender gap report will better enable us to identify
opportunities to help foster gender equality andimplement actions to promote an inclusive culture
across our Gucci community.

The pandemic has further highlighted existing
inequalities. We believe it’s more important thanever to work together to achieve our goals. With thefull support of our President and CEO Marco Bizzarri,
we are preparing to perform an in-depth analysis of
our workforce in Italy and draw up a gender gap
report. As with the fight against climate change, we
recognise that it is critical to take action, but we alsoneed better understanding of the current scenario inorder to make true lasting change.”
ANTONELLA CENTRA,
Gucci’s EVP General Counsel,
Corporate Affairs & Sustainability

Gucci announcing first-ever Gender Gap Reportat the Festival L’Eredità delle Donne

PlanetIntroduction

PeoplePlanetProviding Opportunities with Gucci’s Design
Fellowship Program
The Design Fellowship Program has been one of the most interestinglearning experiences for me. I was lucky to start my Gucci journey withan incredible team in the embroidery department, every single designer
within the team has been the most welcoming and have always offered
to share their expertise with me whenever I have needed. It is ahumbling feeling to learn from some of the best in the industry.”

Started in 2019, Gucci’s Design Fellowship Program is a reflection of
the global and diverse talent that is needed to enrich and promote
inclusivity, diversity, education and cultural exchange in our industry.
As a 12-month programme at our design offices in Rome, we mentor young
designers helping them gain hands-on experience and exposure to luxury
design. Our end goal is to provide better career and advancement
opportunities for underrepresented groups in luxury and fashion.
Initially launched as a challenge at design schools around the world,a selection of five design students from every school makes up a groupof 50 finalists who are invited to discover Rome and Florence, getting
to know Gucci and meeting our design team before the selection of 11
winners. In 2021, the final 11 students were selected from Ghana,South Korea, Kenya, Mexico, Dubai, New York, Lagos, South Africa,
Japan and China.

JASLEEN KAUR MATHARU
2021 Gucci’s Design Fellowship Program Awarde

The Fellowship Program has given me the opportunity to expand myknowledge not only by being mentored and working closely on all thestages for Shoes Design and Special Projects, but also by assisting at
the same time to Luxury Brands oriented Merchandising and ProductDevelopment lessons, among other subjects, so I could reach a fullunderstanding and requirements of the design process in Gucci.”
LORENA ALONSO MOLANO
2021 Gucci’s Design Fellowship Program Awarde

I am excited about the opportunity that the students
are given and even more so about the experience
Gucci gains from this cultural exchange within design.
I have always known what inclusivity could bring toeach; having the proper opportunity is all we need.”
BETHANN HARDISON
Design Fellowship Program mentor and Gucci’s
Executive Advisor on Global Equity and Culture

The final 11 students for Gucci's
Design Fellowship Program

Introduction

CHIME FOR

CHANGECHIME FOR CHANGE in Numbers

Supported more than 25 organisations aroundthe world in 2021, directly impacting 62,526
women and girls

Directly served more than 630,000 girls andwomen globally, reaching more than 3 millionfamily and community members from 2013 to 2021

$19M

Raised more than $19 million USD to support
projects and advocacy in 89 countries sincelaunching in 2013 and as of 2021

Supported 457 projects with 179 unique
NGO partners between 2013 and 2021

Amplifying the Vision of a Gender-Equal
Future with The Meteor

Accelerating Progress Towards Gender Equality
None of us can move forward if half of us are held back. That’s why our
CHIME FOR CHANGE campaign inspires participation in a collective
community, bringing people together across borders and generationsin the fight for gender equality. Since its launch in 2013, CHIME FOR
CHANGE has convened, united and strengthened the voices of people
speaking out for gender equality around the world. And in 2021 CHIME
FOR CHANGE continued the fight, leveraging the power of individual
action, unified under a common goal, to advance the rights, healthand safety of girls and women around the world.

To further amplify the diverse voices calling for agender-equal future, in May 2021, CHIME FOR CHANGE
partnered with new media platform The Meteor tolaunch 21 for ’21: Visions For a Feminist Future, a virtual
gathering featuring 21 voices who came together tohighlight 21 essential visions of gender equity. A uniquecross-generational collection of changemakers, fromwell-known activists, artists, journalists, leadersandRFI
athletes participated in individual talks, monologues,
conversations, short films and more.
Gloria Steinem joined poet and activist Amanda Gorman
in a conversation about language while Hillary Rodham
Clinton led a roundtable discussion on how women areusing their platforms to draw specific attention to AAPI
women, girls and non-binary people featuring Lana
Condor, Sonal Shah and Amanda Nguyen. All attendees
were encouraged to reimagine a better, fairer and freer
world for all genders and races. This visionary summit
furthered our relentless commitment to break down thebarriers that prevent women, girls and non-binary people
from pursuing and achieving their dreams.

PeoplePlanetIntroduction

Bold Commitments to #ActforEqual
The Generation Equality Action Coalitions are
calling for global mobilization to finally achieve
the human rights of all women and girls, in all theirdiversity. Gucci responded to this call with a seriesof financial, policy, programmatic and advocacy
commitments, including:Driving Global Impact on Gender Equality
in the Generation Equality ForumIn early 2021, Gucci proudly joined UN Women’s
Generation Equality Action Coalitions as the private
sector lead of the Feminist Movements & Leadership
Action Coalition, a 5-year commitment designed toaccelerate actions and global commitments toward
gender equality by 2026. Recognising that not one
country has yet achieved gender equality, and
COVID-19 continues to put progress at risk, theAction Coalitions, global partnerships of member
states, businesses, youth-led, civil society andinternational organisations and philanthropies,
proposed a targeted set of concrete actions toensure that equality for all women, including queer
women, transgender women, non-binary women,
women of color, Disabled women, women refugees,
young women, Indigenous women, and women in
the Global South, is at the centre of the global
agenda for COVID-19 recovery and beyond.

$2.5 million USD over the next five years for direct, core,
flexible,multi-year funding to feminist organisations, groups,
movements and activists
Developing a worldwide public awareness campaign calling
for the global community to #ActForEqual, estimated at $15
million USD in pro-bono media placements over the next fiveyears
A dedicated edition of the CHIME Zine, Gucci’s publication ofcreative contributions to amplify the voices of young feministsof the Generation Equality Forum
Ongoing collaboration with young feminists for more visibility
and dialogue through Gucci’s digital channels dedicated tosocial impact
Achieving gender pay parity for equivalent positions within
Gucci by 2025
Adopting, expanding and implementing practices internallyto advance a gender equitable workplace for all

PeoplePlanetIntroduction

PeoplePlanetQ&A WITH LATANYA MAPP FRETT
CEO, Global Fund for Women
Q: Global Fund for Women is a civil society leader for the Generation
Equality Forum’s Action Coalition on Technology and Innovation.
What is the broader vision of this Action Coalitionand what weresome of the key accomplishments in 2021?
A: Global Fund for Women has launched a robust initiative focused on
gender, technology, and innovation. This year, we committed
to mobilize at least $5 million over the next five years to fundthe technology ideas and solutions of feminist movements andactivists in the Global South. We also began development of ourGender Justice Labs, a new digital tool that will analyze publicly
available information from around the world—including trends inonline searches and on social media—to help us better understandmovements as they unfold in real time and drive more and better
resources to activists on the forefront of social change. We also
launched a new, refreshed website aligned with our strategy.
We were honored to serve as a co-lead on the United Nations’Generation Equality Forum Action Coalition on Technology andInnovation, where we announced our bold commitments to funding
feminist tech solutions. And we were thrilled to partner with the first
feminist tech fund based in the Global South—Numun Fund—to support
grassroots feminist groups to assess their digital safety, adapt their
existing tools, and develop new protocols to enhance their digital security
and capacity.

Q: Despite recent gains towards gender equality, progress isn’t
moving fast enough. How can we engage the younger generation,
who is more diverse than ever and calling for action,in Generation Equality?
A: A key component in engaging younger gender justice advocatesis celebrating and embracing the diversity of voices in this cohort.
We recognise that women are not a monolith and experience multiple,
overlapping sources of oppression. The struggle for women’s rights is
deeply impacted by and connected to the struggles for racial justice,queer justice, immigration justice, climate justice, and so many more.
We believe deeply in an intersectional approach to systemic, socialchange and we know it will take us closer to the world we want
to see: where every woman, girl, and trans person is strong, safe,
powerful, and heard—no exceptions. This younger generation ismobilizing and collaborating locally and digitally across the world
to demand changes that bring about more equality and equity forall. We must continue to support them and fund the work that they
are doing.
Q: Gucci is proud to be the private sector lead for the Action
Coalition on Feminist Movements and Leadership, and Global
Fund for Women has long supported feminist, grassroots
movements around the world. From your perspective, why
is feminist leadership essential to achieve gender equality?
A: Feminist leadership is the cornerstone to ensuring a more
equitable society. Feminist leadership and policy is an importantvehicle to promote gender justice work including sexual andreproductive health to ensure gender equality. In all our work,
we ensure that gender justice is incorporated in the policies wechampion. This includes climate justice, gender-based violence
and acknowledging the intersectionality of our partners, grantees
and the communities we engage.
What are some main actions that both companies and civil society
actors can focus on to accelerate progress for gender equality?
A: We need to properly fund intersectional gender justice work.
This means providing flexible spending to organisations to beable to provide for their communities.
Feminist funding means shifting power to historically marginalized
communities including women, girls, and gender non-conforming
people. It means getting flexible funding and resources directly
to feminist activists who know exactly how to use it. Additionally,
innovation is required in learning to listen and leverage insights
to better support local-led solutions, NOT to derive top-down
solutions or “tell” communities what they already know. Often,
the solutions already exist.

Introduction

PeoplePlanetTraining the Artisans of Tomorrow

PRESERVINGCRAFTSMANSHIP &SUPPORTING
SUPPLIERS

FOR THE FUTURE

PROTECTING OURLEGACY IN LUXURY

We’ve continued to build on ourpast know-how while exploringand innovating for the future.
That’s why a heritage of true artisanship and rare skills is behind every
collection we create at Gucci. We’re committed to the continuationof these traditions and we provide specialised training to ensure
a long-lasting legacy of the craft. This enables us to preserve theknowledge and skills that are integral to our production methods
and ultimately for the lasting beauty of our products.

Established in 2018, Gucci École de l’Amour, hosted
in the Gucci ArtLab, our futuristic centre of industrial
craftsmanship and innovation, offers three courses:
Craftsmanship School, Factory School, and ArtLab
and Factories Academy. Taught by specialist artisans andretired colleagues, the course curriculum provides the required skills
and understanding for luxury craftsmanship.

Gucci École de l’Amour in Numbers
Provided technicaltraining to 461
employees in 2021 via
the ArtLab and Factories
Academy totalling 650
since opening

Trained 154 people atFactory School since 2018

Trained 26 people at
Craftsmanship School
since opening

Craftsmanship School (Scuola dei Mestieri)
Aimed at high school graduates and/or unemployed youth
from 18-26 years old, the six-month programme in the Gucci ArtLab
educates trainees in the entire product design and production
process for leather goods and shoes.
Factory School (Scuola di Fabbrica)
Similarly focused on high school graduates and/or unemployedyouth from 18-26 years old, the bi-monthly programme in ourfactories trains people to become production operators
specialising in specific leather goods and shoe manufacturing.
ArtLab and Factories Academy (Accademia ArtLab e Fabbriche)
An internal programme offering special technical training for our
employees working in different departments and in our factories.

A student attending Gucci École de l’Amour

Introduction

Supporting Women’s
Empowerment inLuxury’s Supply Chain

Women in Supply
Chain Project in Numbers
129 women participatedin trainings from Gucci’s
Italian supply chain
Reached more than
67 Gucci suppliers
Overall the project saw 250
women from 120 suppliers in
Italy participating in 10 training
sessions covering 607 hours

Although women make up a critical partof Italy’s luxury supply chain, the status of
women, as well as opportunities to support
their economic and social empowerment,
has largely been unknown. With Kering, wehave deepened our commitment to women
here, launching the “Women in Supply Chain
Project” with Camera Nazionale della Moda
Italiana in 2019. Following the first-everstudy on the role of women in luxury’s supply
chain in Italy, initial trainings were offered
starting in 2020 and during 2021 based on
the results of the study with a focus onleadership and gender; career development;
assertiveness; networking and group support.
In 2022, these trainings will expand to a newrange of our suppliers, including our factories.

PeopleTwo Companies, One Mission:
Sviluppo Filiere Programme
Sviluppo Filiere
Programme in Numbers
175 of our Italian suppliers accessedloans as of the end of 2021
Provided loans by Intesa Sanpaolo
totalling €286 million overall sincelaunchingInitially launched in May 2020 with Intesa Sanpaolo bank tosupport our suppliers during the COVID-19 pandemic, we've
expanded the ‘Sviluppo Filiere’ programme’s scope to green
financing. As the first of its kind in Italy, our goal is to better
enable our suppliers in their transition to sustainable andinclusive practices by offering access to loans at better terms
and conditions. We aligned loan access with ESG criteria andpriorities set by the Italian agovernment’s National Recovery
and Resilience Plan, such as: green logistics projects anddeveloping facilities to produce renewable energy; circularbusiness models; energy efficiency, recycling and recovery of
resources, management of hazardous chemicals, andreducing single-use plastic packaging; and increasing
gender equality and leadership, while closing the gender gap.

The agreement signed with Gucci represents a new kind of
relationship between bank, lead company and its chain of
suppliers-a relationship based on sustainability- that we are
the first to launch at this turning point for our country marked
by the allocation of the Next Generation EU Programme funds.
Intesa Sanpaolo confirms its focus on green investments and thedevelopment of models based on circularity. This focus now leads
to a new approach based on Italy’s supply chains-the strength of
our industry-which have long been at the centre of the support we
provide to companies. We are doing this with Gucci, with which wehave successfully partnered in the past, fully confident that we
can overcome new challenges together. Our Group believes that
economic development has a healthy outlook when it focuses onenvironmental impact, social inclusion and the enhancement of
human capital.”CARLO MESSINA,
CEO of Intesa Sanpaolo

PlanetIntroduction

CREATING

POSITIVE
CHANGEIN COMMUNITIESWhat we stand for and how we act
towards one another is at the very
core of who we are.
Our commitment to generate positive change in the broader
community means that we work with, and nurture, extraordinary
collaborations at a local level.
This is the focus of Gucci Changemakers Volunteering Program,empowering our people to generate positive impacts in their local
communities. With our changemakers and our non-profit partners
we collaborate to promote social justice, protect the environment,enhance education, and support health and well-being. These are
our focus areas of impact.

Gucci Changemakers Global
Volunteering Program in 2021
Volunteering is a vital lever to create meaningfulconnections and interactions between us, as individuals,
and the world around us. We empower our employees
to connect with their local communities and, throughour Gucci Changemakers Global Volunteering Program,we give each and every employee up to 32 hours of paid
annual leave to volunteer with non-profit organisations
offering their time and skills. Throughout 2021 ouremployees supported their communities throughinternational projects and opportunities that wereclose to their hearts.

Changemakers as
Engines of Positive Change

2021

To Date25000

Being a Changemaker for me means to have the chance to
put yourself in the first line to trigger a positive change in yourcommunity, thanks to a Company that understands the enormous
impact that its people can create when given the opportunity.
I am so proud of all the numerous projects we put in place with
our friends of Sesta Opera: from IT tutoring for prisoners to CV
screening and job interview simulations, from discussions on
drug rehabilitation and self-empowerment to counselling. Each oneof them is a way of giving importance and dignity to those who
don’t matter to society anymore, and to remind yourself thateveryone must take ownership on how society works and evolves.”

24,200

20000

15000

ALESSANDRO,
Global Wholesale & Franchising Planner,
Gucci Corporate Italy

Gucci Changemakers Global
Volunteering Program in Numbers
1,700 Gucci employees volunteering
more than 9,800 hours

People

9,800

10000

Supported more than 140 NGOs
in 88 cities world-wide

Received Meta® “Social Impact
Award 2021”

5000

4,262
3,332
2,460

The experience was extremely satisfying and interesting. I wasable to help children do something that is extremely dear to me(reading) and to live an opportunity that should not be closed
to any child. I am very happy to have been part of it and I can't
wait to do it again."

1,700
147 3910Participants

Hours
Volunteered

Non Profits
Supported

Volunteering
Activities
Completed

PAVITRA,
Associate Store Manager & Team Manager,
Gucci India

PlanetIntroduction

PeoplePlanetLOCAL ACTION, LASTING VALUES
Gucci Changemakers in 2021

Gucci Changemakers is our community of employees and non-profit
partners dedicated to creating positive impacts in local communities allaround the world. Together we can help build more just, equitablecommunities by promoting social justice, protecting the environment,enhancing education, and supporting health and wellbeing. Launched in2019 with the Gucci Changemakers Global Volunteering Program at its
core, the programme expanded to include two regional initiatives: Gucci
Changemakers North America Impact Fund and Gucci Changemakers
North America Scholarship Program.

Gucci Changemakers North America
Impact Fund in 2021
Gucci Changemakers North America
Impact Fund in NumbersAwarded$675,000 USD
to 15 Impact
Fund recipients

Disbursed$75,000 USD from
Detroit vs. Everybody
partnership

Impacted
500,000 local
community
members

North America Focus
Launching our third edition of Gucci Changemakers during the
Gucci Love Parade Fashion Show in Los Angeles in November 2021,
we celebrated the programmes ongoing success through a series ofawareness-raising initiatives. The Gucci North America Changemakers
Summit heard remarks from Gucci America’s President and CEO Susan
Chokachi, actress and model Jodie Turner-Smith, and poet and activist
Cleo Wade, while a panel discussion exploring the power of art, creativity,and culture to create social impact was hosted by activist BethannHardison in conversation with Mickalene Thomas, Racquel Chevremont,
Tyler Mitchell, and Yaseen Eldik. Here too, a launch video was unveiled,
The New Class: Gucci Changemakers 3.0’, by writer-director-producer
Sage Dolan- Sandrino, co-director Kam and cinematographer Chance
Chamblin. The film was voiced by Gucci Changemaker scholars and youth
community members, highlighting the importance and power of art andcreativity as revolutionary tools for radical change.
During the launch at Crenshaw High School in their new Performing Arts
Centre, we also dedicated a day to community service across Los Angeles
with our local Changemakers partners. Gucci employees and friends of theHouse volunteered at the Los Angeles LGBT Centre, Academy Gold Rising,Black AIDS Institute, My Friend’s Place, and We Are R.I.S.E. and we ended
the day with a community celebration at Sole Folks in Leimert Park.

At Gucci we believe that, together, we can foster unity through community
action. Our Gucci Changemakers North America Impact Fund translates thisphilosophy into reality by helping speed up positive social change in diverse
communities. By supporting community-based, grassroots organisations
making a local impact across the 12 Changemakers focus cities—Atlanta,
Chicago, Detroit, Houston, Los Angeles, Miami, New Orleans, New York,
Philadelphia, San Francisco, Toronto, and Washington D.C.—we provide
earmarked grants to critical areas in need of support including social justiceand equity; arts and culture; health equity and wellness; and education.
Gucci Changemakers Impact Fund recipients in 2021 were: SoHarlem, New
York; Misa Hylton Fashion Academy, New York; Weird Enough Productions,
Atlanta; Sista Afya, Chicago; Social Works, Chicago; JOURNi, Detroit;
Magpies and Peacocks, Houston; The Academy Foundation/Academy of
Motion Picture Arts and Sciences, Los Angeles; We are R.I.S.E., Los Angeles;
Radical Partners, Miami; ProjectArt, New Orleans; Tools and Tiaras,
Philadelphia; The African American Art & Culture Complex, San Francisco;
Human Rights Campaign, Washington D.C.; and UforChange, Toronto.
Gucci engaged with Detroit as early as 2019 in support of filmmaker Jenn
Nkiru’s film Black to Techno, which delved into the city's Black music scene

and connection to techno music. In 2021, we built even deeper
connections with the city, due to its inspiring cultural heritage,eclectic creativity, and expanding multicultural fashion scene.
We established a unique new partnership, Detroit vs. Everybody
X Gucci Changemakers, collaborating with Detroit designer
Tommey Walker and his label DETROIT VS. EVERYBODY for a
special line-up of T-shirts to celebrate the 11 Changemaker cities
in the United States. To mark our commitment, a charitable
donation was made to the 2020 and 2021 Gucci Changemakers
North America Impact Fund recipients totalling an additional$75,000 USD above and beyond the Fund’s allocated grants.

Introduction

Gucci Changemakers North America
Scholarship Program in 2021

Gucci Changemakers North America
Scholarship Program in NumbersAwarded 21
Gucci Scholars

Provided scholarships
to diverse students
totalling $331,500 USD

Selected 1
Gucci X CFDA
ScholarWith Gucci Changemakers Scholars Award and Gucci Changemakers X
CFDA Scholars by Design Award, we are dedicated to providing opportunities
and hands-on experience in the fashion industry to diverse and talented young
people. Our aim is to bring new, diverse and empowered voices into our industry
for the future. Starting from 2020, we’re awarding $1.5 million USD over four
years through the Gucci Changemakers Scholars Award. 2021 saw students
from Historically Black Colleges and Universities (HBCUs) and diverse students
specialising in areas related to fashion, such as design, marketing, art, film,
communications and merchandising, apply for scholarships up to $20,000
USD. These scholarships are based on unmet financial needs with special
preference going to students living or studying in one of our 12 Gucci
Changemakers cities. As part of its mandate, the Gucci Changemakers X
CFDA Scholar by Design Award selects one woman of color or a person who
identifies as a woman entering her senior year of design school. In 2021, theawardee also received a scholarship for $20,000 USD.

PeoplePlanetIntroduction

Planet1 Happy Hippie Foundation

GUCCI
CHANGEMAKERS

Our grant is used to support My Friend's Placehomeless youth programmes in Hollywood.
My Friend's Place

2

LOS ANGELES GIVING

As part of our mission to create a positive, lasting social
footprint from our fashion shows, the Gucci Love Parade
Fashion Show, through Gucci Changemakers, provided$1 million in grants to six Los Angeles based non-profit
organisations focused on empowering young people,
mental wellness, and community engagement.

PeopleLos Angeles

Our grant supports their creative arts programming through their
Transformative Education Programme, providing creative and livings
arts programming for more than 225 youth through 200+ workshops,
experiences and field trips; creating opportunities for youth to
explore creative expression, craft identity, build marketable skills
and develop positive self-regard and confidence through mediumsthat include visual arts, music, jewellery making, movement anddigital media.

1

3

2 Hollywood YMCA
Our grant is used for their general programmes supporting
youth sports, homelessness and hygiene, career andcollege programmes for young people.

4

3 Los Angeles LGBT Centre
Our grant is used to support their general services
and programmes for LGBTQ + youth: transitional housing,
culture and arts education, and leadership development.

4 Los Angeles College Promise Works(Los Angeles Mayor's Fund)Our grant supports LACP Works’ expansion of career
training opportunities and increasing the capacity of the
career development teams to give College Promise students
more economic security, access to supportive services, andhone the skills needed to realise their professional dreams.

5

5 Sole Folks
Our grant supports their general programmes such as their
Sneaker Day initiative, youth entrepreneurship workshops,
and administrative support.

Gucci Love Parade show
Photographer: Dan Lecca

Introduction

PeoplePlanet2021 HIGHLIGHTS
We protect biodiversity and embrace nature-positive strategies for the future
while seriously reducing our footprint across our direct operations and our
supply chain.
Developing Eco-friendly Sourcing Solutions, Innovative Materials
and Processes with a Circular Approach
Pioneered DEMETRA, an innovative animal-free material that combines quality,
softness and durability with an eco-friendly ethos, and incorporating it across
our collections including Gucci Off The Grid which now includes more than
70 products from shoes to accessories and luggage

PLANET

Increased traceability for our raw materials reaching 95% traceability overall,with 99% traceability for our plant-based and animal-based materials
Recovered 290 tons of leftover leather, 215 tons of textile scraps, 67 tonsof metal accessories, and donated 9,000 meters of fabric to NGOs in Italy
through Gucci-Up
Reduced our leather manufacturing footprint with Gucci Scrap-less, with 13
tanneries participating in the programme and reducing 253 tons of leather
scraps, saving 9,5 million litres of water, avoiding 15,730 kg of waste production,
and avoiding 1,085 tons of CO2

Tackling Climate Change by Reducing Our Overall Footprint

Reduced our total footprint by -49% and our greenhousegas emissions by -46% since 2015 relative to growth
Attained 100% green energy in 44 of the 49 countries we are locatedin for our stores, corporate locations and factories, equalling 93%
renewable energy worldwide towards our 100% target by the endof 2022
Maintained carbon neutrality across Scopes 1, 2 and 3of the Greenhouse Gas Protocol since 2018

Moving to a Nature-positive Approach

Evolved our strategy with Gucci’s Natural Climate Solutions Portfolio
to go beyond carbon neutrality towards a nature-positive approach

Helped protect and restore 785,000 hectares of critical forestsand biodiversity in Zimbabwe

Supported an afforestation programme covering over 6,000 hectares
in Kenya that helps encourage local farmers to improve their farms byplanting and maintaining trees on degraded and/or unused landChampioning Regenerative Agriculture
Committed to sourcing materials from regenerative agriculture
and put in place mechanisms to set up projects across wool,
leather, cotton, silk and linen
Helped farmers transition to regenerative farming by funding
regenerative projects for wool and leather covering 3,075 hectares,
allowing for the capture of approximately 25,000 tons of CO2 over
five years
Established partnerships with farms in our own supply chain to support
their adoption of regenerative practices for regenerative wool, silk,
cotton and linen

Introduction

PeopleENVIRONMENTAL PROFIT & LOSS
An Environmental Profit & Loss (EP&L) account is a tool that provides an in-depth analysis
of our environmental impacts, revealing our issues and our opportunities to generate positivechange. By measuring and then monetising the greenhouse gas emissions, water use, waterand air pollution, waste and land use associated with our direct operations and supply chain,starting from raw material production through to manufacturing, and all the way to productuse and end of life, we can identify and prioritise key actions to reduce our impacts and track
our sustainability progress.

Understanding our impacts
To measure our total environmental footprint, we analyse:

How does it convert intomonetary value?
An EP&L measures our environmental impacts and values the data thatis collected in economic terms. It estimates the cost of the changes
in the environment resulting from our business’ activities.

Greenhousegas emissions

What is an EP&L?

A decision-making tool to create targeted programmes

And then calculates
its monetary value

Water pollution

Land use

What are the benefits?
Air pollution

Waste

And to truly understand the impacts associated with our businessactivities and our products we analyse these factors across ourvalue chain.

Integrates its findings into our day-to-day operations andstrategy, influencing our product design, sourcing decisions,manufacturing and innovation
Analyses our products from cradle to grave

Monetising our environmental impacts allows us to easily compare
our environmental performance:
In different areas of our business: theresults are translated into a language
business understands

Provides valuable information so we can understand what ourlargest impact drivers are and where they are locatedIt measures the environmental
footprint in our own operations andacross our entire supply chain, as
well as the impacts associated with
consumer use and product end of life

Water use

Between our different impacts andbusiness units: it shows clearly where
it is best to implement initiatives

Over time: it shows where we aremaking progress and how we canreduce our footprint
Raw materials

Processing

Manufacturing

Assembly

Monitors progress of our sustainability strategy
It facilitates more effective
decision making andprovides critical insights
into our business

Discover Gucci's Digital EP&L

Helps create more resilient supply chains to manage future risks

It provides a better
understanding of thevalue of natural resources

Guarantees more transparency with stakeholders

Operations& retail

Consumer use

Productend of life

PlanetIntroduction

TACKLING CLIMATE CHANGE,REDUCINGOUR OVERALLFOOTPRINT
AN AMBITIOUS STRATEGYGUIDING OUR WAY

For years now, we’ve been taking
meaningful and decisive actions to
mitigate our entire impacts, while
simultaneously supporting biodiversity.
We’ve been busy advancing our sustainability agenda in 2021 andtransparency pushes us to reduce our footprint as much as we can; ourannual Environmental Profit & Loss account (EP&L) captures metrics and
KPIs for all to see. This means we have a detailed measurementof greenhouse gas (GHG) emissions, water and air pollution, water
consumption, waste, and land use starting from raw material production,right through to the manufacturing of our products, and all the way until
they reach our stores and our clients. We’ve also started analysing how
consumers use our products, as well as product end-of-life.

Because the EP&L provides us with a deep understanding of where
and how our impacts are generated, we've been able to customise
programmes to address our impacts more effectively: employing
best practices; adopting more efficient manufacturing and processes;
using renewable energy; sourcing sustainable, low-impact materials;
and innovating through circular design.
Underpinning the strength of our ambitions are reduction targets
for our direct operations and supply chain: -40% for our total
footprint and -50% for GHG emissions by 2025, against a 2015baseline. Our 2021 EP&L results revealed that we’re not only on
track to meet our emissions target attaining a -46% GHG emissions
intensity reduction, we’ve already surpassed our goal to minimise
our total impacts by -49%. Aligning with science even further,
we’ve adopted our parent company Kering’s science-based goals,
approved by the Science Based Target initiative (SBTi), around
reducing our GHG emissions in alignment with a 1.5°C pathway
by 2030.
What’s more, for all the remaining GHG emissions we can’t reduce
every year, we translate them into protecting and restoring forestsand biodiversity. So, since 2018 we’ve been totally carbon neutral in
our direct operations and across our supply chain too, and we’re now
moving towards a nature-positive approach.

Gucci's EP&L Year-on-Year Reduction

PeopleGucci's GHG Year-on-Year Reduction
9.7

9.6

8.3
7.4

7.4
6.2

6.2

4.4

4.4

Revenues

298
248

Billion €

1.338

3.9

292

249
215

Revenues

248

1.272
1.090

1.060

Billion €

0.942

193

0.897

0.801

+14%

EP&L

9.7

9.6

8.3

3.9

PlanetGHG

Million €Million Tons

+5%

EP&L Intensity
Reduction

2015

2016

2017

2018

2019

2020

2021

EP&L/Revenues %GHG Intensity
Reduction

2015

2016

2017

2018

2019

2020

2021

GHG/Revenues %

-19%

-17%
-21%

-40% (2025 TARGETFOR EP&L INTENSITY -28%
REDUCTION)
-39%

-36%

-42%

-49%

-50% (2025 TARGET FOR
GHG INTENSITY REDUCTION)

-41%

-46%

Introduction

PeoplePlanetGucci's 2021 EP&L Results
Gucci 2021 GHG Emissions
End of Life
Scope 1

Scope 2

Scope 3 Direct Operations
Scope 3 Supply Chain

Scope 1 (equalling 1%
of GHG emissions in 2021)

Y2015

Onsite fuel usage
Directly owned vehicles
and company car fleets

Air emissions

Y2016

Scope 2 (equalling 0,5%of GHG emissions in 2021)

Y2017

GHGs

Electricity and steam production

Y2018

Scope 3 (equalling 98,5%of GHG emissions in 2021)

Land use

Direct operations equalling 16,5%
in 2021 (data available from 2019)

Y2019

Upstream energy and motor fuelB2B Transportation
Y2020

Waste

Ecommerce (included from 2019)
Business air travel
Supply chain equalling 82% in 2021

Y2021

16,5%
0,5%
1%

82%

Included: Tier 0-4

Water consumption

Excluded: End Of Life, Use Phase

Water pollution

Use Phase

Tier 0:Stores, Warehouses,
OfficesTier 1:
Assembly

Tier 2:
Manufacturing

Tier 3:
Raw Material
Processing

Tier 4:
Raw Material
Production

Introduction

TRANSFORMATIONAL ACTIONSIN OUR DIRECT OPERATIONSReducing Our Own Operations in Numbers
100% green energy in 44 of the 49 countries weare located in for our stores, corporate locations
and factories, up from 41 countries in 2020, andequalling 93% renewable energy wordwide

66 LEED-certified stores and corporate locations,increased from over 30 locations in 2020

88% LED lighting in our stores around the worldfrom 67% in 2020

50 Building Management Systems in our storesand corporate locations, expanded from 28
locations in 2020

PeopleGreening Our Stores and Offices
Starting from where we can influence the built
environment, we’ve been seriously reducing our impacts inour stores and offices; creating greener spaces and setting up
eco-friendly initiatives from construction, design and technology,
through to sustainability policies and daily onsite management.
As the first luxury brand to become LEED (Leadership in Energy andEnvironmental Design) certified back in 2009, we’ve increased LEED
Construction and LEED Operation & Maintenance certifications by
57% from 2020 to 2021, reaching 66 LEED certified buildings in 2021.
Globally recognised as the leading Green Building certification, our
LEED achievements have translated into significant improvements
in our environmental performance linked to stores and offices interms of energy and water savings, consumption monitoring, waste
reduction and recycling, indoor air quality and general well-being
for our employees and clients. On top of LEED certifications, all our
Italian stores have been under SA8000 certification since 2007 andthey’ve achieved the Health and Safety ISO 45001 certification in
2019, too.
We increased our BMS (building management system) systems by
78% (from 2020 to 2021) covering 50 of our store and corporate
locations in 2021, so we can track energy consumption and improveon savings even better. Designing our store lighting using LED also
helps to lower our energy footprint and, as of 2021, 88% of our storesused LED. We’ll continue pushing these initiatives until our energy
consumption meets our sustainability goals.
Onsite management means our retail teams take special care torecycle and manage the disposal of waste in a sustainable way,
every day. Where we can manage our own waste collection, we
ensure proper recycling separating paper and plastic, and where
the landlord is in charge we observe all the regulations for thelocation and city. For our offices, we’ve banned single-use plastics
both in our canteens and vending machines, and, to avoid wastingwater and to further minimise plastic use, about 25% of our storesuse water dispensers.

We’re also progressively switching to Digital Stations for back officeactivities, equalling significant savings on printed material, ink andpaper consumption.
We’ve been focusing on the redesign of our packaging with strategic
sustainability choices as well; launching our new Green Packaging
made from FSC-certified paper in 2020 for retail and e-commerce.
When it comes to e-commerce in particular, we’re focused on
reducing plastic, as well as substituting freight packaging filler
and tape with paper. Moreover, we introduced reusable cotton
canvas tote bags and adaptable freight packaging to further
reduce delivery volume and weight for a lower environmental
footprint for transportation.

Energised for 100% Renewable Energy
While we’ve been increasing our energy efficiency,
we’ve also been transitioning to renewable energy.
Indeed, transitioning to renewable energy as a clean
energy source is a significant part of our climate
strategy. And we’re coming closer to our 100% goal,
achieving 93% green energy consumption in ourstores, offices, warehouses and facilities in 2021.
What’s more, we’ve already achieved 100%
renewable energy in 44 of the 49 countries we’relocated in, equalling a savings of 52,000 tons of CO2
in 2021. To support our transition, both our Italian
headquarters in Florence and Milan have solar
panelling on their rooftops so we can convert sunlightinto usable green electricity for these locations.
Our suppliers have been increasing their use of green
energy too; the electricity in our supply chain will berenewable by the end of this decade. Indeed, ourparent company Kering has a 100% target for theGroup’s entire supply chain to use green energy by2030 and we’ve been working towards this goal.
We’ve also been supporting our suppliers in thistransition through our green financing ‘Sviluppo
Filiere’ programme with Intesa Sanpaolo bank, aswell as through an innovative financing mechanism
aimed at consolidating energy purchases at the
Kering Group level. In 2021, our suppliers used 25%
green energy, with over 50% in leather manufacturing
processes and 40% in footwear manufacturing.

PlanetIntroduction

A RESPONSIBLE SUPPLY CHAIN
FROM THE BEGINNING
Our Supply Chain in Numbers
95% of our manufacturers
are based in Italy

Over 20,000 people indirectly workfor us throughout our supply chain

1702 supplier audits acrossour supply chain

PeopleOur Suppliers, Our Partners
Our suppliers are our collaborators; we’ve worked withmost of them for years, with many supplying Gucci forover two or three generations. 95% of our manufacturers
are based in Italy and they are long-term relationships that havebeen cultivated with a spirit of trust and commitment to the “Madein Italy” sign of excellence. We rely on them to uphold our highstandards and policies, and we support our suppliers with capacity
building and training to be best-in-class, following environmental
and social best practices. We’ve also set up programmes to help
them become greener and more inclusive; as mentioned earlier, thegreen financing programme we established with Intesa Sanpaolo,
geared towards the pursuit of crucial ESG objectives, benefits
our Italian suppliers with fast access to loans with advantageous
terms and conditions.
All our suppliers and sub-contractors are required to comply with
our Sustainability Principles and Kering’s Code of Ethics. In particular,
our Sustainability Principles are a set of guidelines that include
oversight on sustainable sourcing, legal compliance, collective
and supplementary agreements, international conventions anddeclarations on human rights, environmental preservation andrespect for animal welfare. To ensure our overarching Sustainability
Principles are adhered to, they are included in our supplier contracts.
Our robust monitoring system ensures our suppliers and subcontractors
are regularly audited by third-party teams and specialists from Kering
to guarantee continued compliance with our high standards, as well asalignment with our Sustainability Principles and Code of Ethics. If any
breaches are identified, corrective action plans are created andfollow-up audits are conducted to ensure any non-conformance has
been rectified. In 2021 alone, 1403 of our suppliers had at least one
audit or a follow-up audit and totalled 1702 audits across our supply
chain overall.

As a single and comprehensive audit methodology, it’s aligned withthe best standards in the field, in particular the SA8000, a global
standard that accounts for business ethics and responsible labour
relations. To support our suppliers in meeting these requirements,and so they can keep improving even further, the training seminars
we created are focused on each of our product categories every year,
sharing best practices and information related to our sustainability
strategy and the key impacts generated in our supply chain.
In 2021, we also publicly shared our Tier 1 suppliers, which covers
87% of the Tier 1 factories in our supply chain and includes the main
suppliers that finish our products’ manufacturing and assembly forready-to-wear, leather goods and shoes, and jewellery.

Climate Strategy for Accountability:
Carbon Neutral to Nature-Positive
Our climate strategy is all-encompassing: since
the majority of our greenhouse gas emissions,equalling around 80%, are generated in our supply
chain, we fully believe it’s our responsibility toaddress them too. So, since 2018, we’ve been
entirely carbon neutral in our direct operations
and across our entire supply chain; in other words
through Scopes 1, 2 and 3 of the Greenhouse
Gas Protocol. Our approach is ambitious yet
straightforward. We prioritise avoiding andreducing our emissions through low-impact
actions; and then, as a final measure, we translate
the total remaining emissions into protecting andrestoring nature. Our commitment has meant that,between 2018 and 2021, Gucci supported REDD+
projects around the world conserving 785,000
hectares critical forests and mangroves. We ramped
up our ambitions in 2021, evolving our climate
strategy to move beyond carbon neutrality
towards a nature-positive approach throughour ‘Natural Climate Solutions Portfolio’.

PlanetIntroduction

A big part of our reduction pathway
is based on how and where we source
our raw materials.

Maximising Opportunities for Maximum Sustainability
Since the bulk of our supply chain impacts come from raw material production, we’reconstantly seeking out ways to increase sustainability right from the very beginning. We carefully
select all our raw materials, focusing on their production systems, through to how they are processed
and manufactured, so that they have a lower carbon, water and chemical footprint while avoiding
the deterioration of natural ecosystems and local biodiversity. We prefer to use certified materials
whenever we can; replacing conventional with certified organic materials, including textiles andpackaging, FSC®-certified cellulose fibres, paper and wood, and recycled alternatives. We’ve
also committed to sourcing from regenerative agriculture to give back to climate and nature.

In fact, together, raw material production and processing represents
63% of our total footprint; that’s why we’ve been focusing a lot of ourefforts on sourcing sustainably, promoting traceability and enhancing
our use of low impact materials across our collections, while exploring
new ways to innovate along the supply chain. Our strict guidelines
ensure the highest standards for our raw materials and manufacturing
processes, adhered to by our trusted suppliers who are primarily basedin Italy. They account for every step in the supply chain from farm, fieldor mine to finishing, covering traceability, social welfare, environmental
protection, animal welfare and chemical use. We have a target to 100%align with these progressive standards by 2025 and we’ve made good
inroads so far.

INNOVATINGFOR THE FUTURE

Sustainable Materials Across Our Collections

2020

2021

248

215

193

Processes
efficiency

0.29

Electricity

Impact avoided using green electricity rather than conventional
electrcity in HQ, operations and stores worldwide

51,973

7.64

Metal-free

Impact avoided tanning leather with metal-free method
instead of conventional tanning

2,619

1.82

Scrap-less

Impact avoided cutting the leather hide to size before tanning,processing only what is needed for production, while reducing
the amount of energy, water and chemicals

1,085

0.23

Y2015

Y2016

Y2017

Y2018

Y2019

Y2020

Y2021

Gucci-Up

Impact saved giving a second life to leftover materials frommanufacturing (ex. donated to NGOs and social cooperatives
in Italy; placed on the market to be reused and regenerated;upcycled through anonymization; recycled as new raw material)

45.88

49,226

15.07

3

1

Cashmere from organic, recycled
and responsibly managed sources1

Responsibly sourced precious metals(recycled silver, recycled palladiumand ethical gold)

0%

Metal-freeleather%

Recycled nylon
and polyester

1

0%
10 %
00

Circularity

93,172

Organic silk

0%
10 %
00

Total Avoided Impacts Raw Materials Sourcing + Processes Efficiency

%
47

24%
12

110

0%

Impact avoided sourcing leather that is recycled, organic andhave sustainability features such as improved land management

4

26

249

Leather

Organic wool or from responsibly
managed sources

Overall traceability

Paper from responsiblymanaged forest sources

Leather

Overall plant-basedmaterials

Animal-basedmaterials

1

0%
10 %
00

248

46
15

292

11.79

Organic or
recycled cotton

9

99%
%
99

298

9,246

Recycled viscose or from responsibly
managed forests

26%

43

Fibers

Impact avoided using fibers that are recycled, regenerated, organicand have sustainability features such as improved land management

24%
21%

Raw materials
sourcing

24.11

2021

%
99
%
97

Avoided Impact

28,139

2020

%
99
%
97

Gucci-Up

Impact avoided sourcing metals that are recycled or comingfrom the Kering Responsible Gold Fund

6% %
8

%
95
5%

EP&L Proforma

Metals%

EP&L Measured in Million Euros

61%
%
50

82
76%

GHGs Avoided EPL Avoided
Ton CO2
Million €Materials Traceability
Total Percentage

Total Percentage

Gucci's Avoided Impacts and Savings by Key Actions

PlanetPrecious skins

4

MATERIALS
MATTER

People

4%

77%

Cellulose-based
fibresIntroduction

PeoplePlanetEco-Innovation for Tanning
Adopting novel, low-impact solutions for our materials andmanufacturing is a big part of our strategy to minimise our impacts.
With this in mind, we’ve been innovating to create more sustainable
manufacturing methods and, starting in 2015, we’ve been switching
to metal or chrome-free tanning as an alternative to conventionaltanning techniques. It’s a greener solution reducing chemicals,
water, waste and by-products from tanning and manufacturing,
while at the same time saving on energy and the associatedgreenhouse gas emissions. Our goal is to achieve 100% metal or
chrome-free tanning across our collections by 2025, and, startingfrom 0.2% we reached 40% of our total leather production in 2021,
up from 26% in 2020.

A collaboration with A Vibe Called Tech
showcasing Gucci Off The Grid

Introduction

DEMETRA
Born from Gucci’s desire to explore
and innovate materials for the future,
Demetra is the culmination of two
years of research and development
by Gucci’s own technicians
and artisans.

PeopleCreated using the same processes for tanning
thereby achieving characteristics that givea resilient performance, with a supple andluxurious finish
Scalable, versatile and suitable fora wide range of product categories
Manufacturing is efficient, minimising
the unusable parts of the material andreducing waste from cutting
Scraps during manufacturing are upcycled
and reused through an extension of the
Gucci-Up programmeTannery uses green electricity
and adheres to the Environmental,
Health & Safety ISO Standard
Eco-innovation combines efficient
processes with animal-free raw materials
that are primarily from sustainable,
renewable, and bio based sources
Contains at least 77%
plant-based raw materials

-

Y

EC O

FR

E
RE

IMAL-FAN

IE N DL

Made in Italy
Remaining associated greenhouse gas
emissions are translated into protecting
and restoring forests and biodiversity
Supports open innovation to the fashion industry

PlanetIntroduction

PeopleA CIRCULAR VISION TO

RECOVER,REUSE,RECYCLE,RELIFEA quest for circularity–keeping resources
forever circulating–and its attainmentis one of the ultimate goals for fashion.
Indeed, it’s intrinsically linked to meaningful climate action and biodiversity
conservation. On top of our broader responsibility to people and planet, to reachour sustainability goals we need to move further and further away from fashion’s
traditional, linear model, and decouple the use of new raw materials and resourcesfrom our activities as much as we can. So, we’ve been combining our creativity
and technical know-how with our circular vision; championing the regenerationof materials and textiles, wasting less and minimising the use of new resources.
We’ve also been incorporating innovative ways to optimise efficiencies during the
production and manufacturing of our collections. And that's not all. We’ve been
exploring partnerships and new business models to extend the life of our materials
and products even longer. By its very virtue, luxury has circularity built-in, retaining
beauty and value for the long-term. We want to bolster these inherent attributes
to extend the lifespan of our products, keeping them forever in circulation.

Ellen MacArthur Foundation:
A Strategic Partnership for the Future
We can do a lot on our own to reduce our use ofvirgin resources and rethink every step of our
supply chain; to become circular by design. But,
truly scaling up circularity is an industry-wide effort.
It will take innovation, shared solutions, consensus
building and collective action across fashion’s
ecosystem. While we’ve had a long-standing
collaboration with the Ellen MacArthur Foundation
through our parent company Kering, with a view tothe future as well as our own circular ambitions,
we’ll be taking a very proactive role starting in
2022 as a Strategic Partner. We’ll make sure toshare our efforts and learning’s in our new role atthe Ellen MacArthur Foundation in our next Gucci
Equilibrium Impact Report.

PlanetIntroduction

A Virtuous Circle with Gucci-Up“

Gucci-Up in Numbers
290 tons of leather leftovers
recovered, totalling 617 tons
since 2018
215 tons of leftover textiles
recovered, and 900 tons
since 2018

People67 tons of metal scraps
regenerated, equalling
203 tons since 2018

9,000 meters of fabrics donatedto social cooperatives and 15,000
meters donated since 2018

Gucci's donated materials and fabric has contributed to our
mission of social entrepreneurship in the ethical fashion sector
in a twofold manner: Firstly, in our inclusive workshop, donations
have been transformed into limited edition, Made in Italy
accessories and garments sold across our stores and B2B channels,
creating revenue and impact on the fashion ecosystem and on ourcommunities. Most importantly, the manufacturing of these products
has provided training opportunities for over 150 people, mostly
women, formerly at risk of labour exclusion and discrimination andnow permanently employed in our social enterprise. Together with
Gucci, we're truly reimagining Made in Italy to redesign a more
inclusive labour market, especially for women.”

ANNA FISCALE
Founder and President of QUID

Our leftover textiles and leather from manufacturing are given a new life through our
Gucci-Up programme. Launched in 2018, we’ve focused on recovering and upcycling
our leftover materials by optimising a number of different channels. If we don't use
these upcycled or discontinued non-branded fabrics and leather materials ourselves,
we either put them back into the marketplace or donate them to NGOs and social
cooperatives in Italy. These organisations support the training of people frommarginalised groups, including women, migrants, and Disabled people, and theirre-integration into the community. In 2021 alone, we collected 500 tons of leather andtextile leftovers from Gucci’s suppliers totalling 1,500 tons between 2018 and 2021.
Our material donations amounted to 15,000 meters of fabric over the same period.
We will continue to expand our Gucci-Up programme and also find further
innovative ways to upcycle our leftover materials.

“
Colori Vivi is a social enterprise that helps migrant women to
reintegrate with pride, trust and professionalism into a new working
and social fabric. Touching, cutting, sewing, ironing such precious
fabrics triggers an educational and technical training process in ourseamstresses that allows them to learn and grow professionally.
The fabrics from the Gucci-Up programme with which we make theclothes are an important support and help to amplify the social
impact of Colori Vivi in which women, while working, are able tofind renewed self-esteem and professionalism.”

BARBARA SPEZINICEO and Founder at Colori Vivi

PlanetIntroduction

Minimising Waste, Innovating for Leather

Reducing Plastics, Keeping Plastics Circulating

Gucci Scrap-less in Numbers
13 tanneries participating

253 tons of leather scraps
were reduced in 2021,
totalling 450 tons since 2018

15,730 kg of waste
production avoided in 2021,
totalling 32,400 kg since 2018

6,140kg of air emissions avoided
and 13,500kg since 2018, with anadditional 1,085 tons CO2 avoided
in 2021 totalling 2,328 tons of CO2
between 2018 and 2021

9,5 millions litres of water
consumption saved in 2021,
with 21 millions litres of water

We’ve been busy reducing and redesigning for plastics, implementing solutions towards
a circular economy for plastic. We’ve been seriously reducing our use of plastics across allareas of our business, and also choosing alternatives where we can swop it out in products
and across our supply chain, including our offices, stores and production locations. And,
when plastics are used, we opt for more sustainable alternatives like recycled and bio-plastics
as much as we can. To guide us, we have strict standards for plastics that are applied to all thetypes we use in our products, packaging and visual merchandising. Through our Fashion Pactcommitment under our parent company Kering, we also have a clear target to eliminate 100%
single-use plastic in our retail packaging by 2025, and, for all our industrial packaging by 2030.
Over the last years, we’ve launched various game-changing programmes to address plastics;
they’ve translated into real and measurable change across all our activities:
From 2015 we’ve banned PVC from our products and packaging.
We’ve decoupled virgin plastics from design, replacing virgin synthetic fabrics with recycled
alternatives. As examples, we use recycled Acrylonitrile-Butadiene-Styrene (ABS) plastic in theheels of our shoes, and Thermoplastic Polyurethane (TPU) for our soles, which contains up to 50%
bio-plastic content.
We’ve increased the reuse, collection, and recycling of plastics across our direct operations.

Our Gucci Scrap-less programme is another way we’ve been reducing our leather
manufacturing footprint. We’ve rethought and upended the traditional methodsof how leather hides are handled by simply cutting them to the sizes we need before
tanning. So, this way, we are able to process only what we need for production,
which significantly reduces the amount of energy, water and chemicals required
to treat the material. It also reduces transport-related greenhouse gas emissions
from tanneries to factories, too. Since launching in 2018, we’ve continued to extend
the Gucci Scrap-less programme for our leather production. In 2021, 13 tanneries
participated, equalling approximately 1,085 tons of CO2 saved, totalling 2,328 tonsof CO2 avoided since 2018.

We’ve eliminated all virgin single-use plastics in our product packaging for retail, with any remaining
plastic components from recycled sources, such as hangars for our ready-to-wear collections fromrecycled polystyrene or rain-covers for shopping bags from recycled polyethylene, and dust bags
and suit carriers made of recycled polyester and regenerated cotton.
We’ve increased industrial packaging reuse through initiatives like our ‘Take Back’ programme
where we reuse all the plastic protective boxes for our accessories. It’s been a success, avoiding
578,000 new boxes and equalling 70 tons of plastic for industrial packaging in 2021, and 131 tons
since we launched the programme in 2019.
Our plastic-free initiative for our Italian offices has eliminated single-use plastic from our cafés,canteens, vending machines and meeting rooms, replacing it with more sustainable options.
We’ve committed to extending this initiative throughout our business.

PeoplePlanetIntroduction

PeoplePlanet

Pre-Loved Gucci, Vintage with Gucci Vault
New business models geared towards extending
the life of products have had the spotlight forgood reason; it's a key component of the circular
economy for fashion. This is an area we took
immediate interest in and we’ve been exploring
the secondary marketplace for the last years,
starting with a three-month pilot with The RealReal
in 2020 where we joined forces to launch an online
shop dedicated to a selection of curated preloved
Gucci items, and testing other platforms in 2021.
Gucci Vault is another creative exploration of thismodel: we’ve included a curated collection of
vintage Gucci items selected by our creative
director Alessandro Michele and Gucci archivists.
Vault showcases an edited and limited selectionof hard-to-find and exclusive items, which arecarefully reconditioned through the know-how
and mastery of Gucci’s artisans and are thennumbered and presented online.

We called it Vault because a vault is a storage place
for beautiful things. It’s related to my passion for vintage.
It is clear I love vintage. I love old things, they are present
in my life with contemporary things.”
ALESSANDRO MICHELE
Gucci’s Creative Director

Gucci Vault Summer Selfie campaign
Photographer: Max Siedentopf

Introduction

PROTECTING
AND RESTORING

NATUREWe believe it’s critical to be part of thebigger solution for a better tomorrow;and while we focus on minimising ournegative impacts across our own ecosystem,
we also maximise positive impacts on
people and the planet more broadly.
Supporting conservation efforts is integral here, and, through our Natural
Climate Solutions Portfolio, we have been protecting and restoring forests,
mangroves and natural landscapes around the world. In turn, our ongoingcommitment helps mitigate climate change while safeguarding importantbiodiversity, wildlife and their habitats. We’ve also turned our focus toregenerative agriculture so we can give back to nature and climate.
We believe it’s the future for fashion.

Protecting and Restoring Nature in Numbers
Invested in regenerative projects for wool andleather covering 3,075 hectares, catalysing
over 32,000 hectares of land managed withregenerative practices and enabling around
225,000 tons of CO2 sequestered over the
projects’ life

Supported the Kariba REDD+ project protecting
785,000 hectares of forests and biodiversity
in Zimbabwe

Funded afforestation in Kenya covering over
6,000 hectares of land to encourage local
farmers to plant and maintain trees
on degraded and/or unused land

Supported conservation efforts in the Leuser
Ecosystem in Sumatra covering 1,093 hectaresof forest corridor vital for wildlife habitats andtheir migration

A NATURE POSITIVE APPROACH:OUR NATURAL CLIMATE
SOLUTIONS PORTFOLIO
Through conserving and restoring natural climate solutions like forests andwetlands, and improving land management, we are helping to ensure thatthese natural carbon sinks continue to play their critical role in the fightagainst climate change for years to come. Starting from 2018, we’ve been
investing in forest conservation through our carbon neutral commitment
and we follow the mitigation hierarchy: by first avoiding and reducing ourgreenhouse gas emissions as much as we can, and then, as a final step,translating any remaining emissions from our direct operations and ourentire supply chain every year into protecting and restoring nature. In early
2021, we evolved our strategy and announced an over-arching Natural
Climate Solutions Portfolio to go beyond carbon neutrality towards anature-positive approach. While we still invested in forest conservation
to compensate for our remaining emissions, we went above and beyond toinvest in the protection and restoration of mangroves, as well as investingin the first steps of our long-term strategy for regenerative agriculture.
Gucci’s ambition to source, scale up and transition to regenerative
agriculture for key raw materials has gone from strength to strengthand the newest regenerative projects are within Gucci’s own supply chain.

PeoplePlanet

The evolution of our strategy incorporates a series of clear
climate actions that will continue to prioritize reducing ouremissions and drawing down CO2, which allows us to maintaincarbon neutrality across our entire supply chain. At the sametime, we are investing in regenerative agriculture as animportant pillar of our approach. Led by science, Gucci’s
new Natural Climate Solutions Portfolio protects and restores
important ecosystems that mitigate climate change, whileproviding lasting biodiversity and climate benefits for years
to come. We want to be part of the solution for nature andclimate by mainstreaming practices and systems that willtransform nature from being a victim of climate to becoming
an actor to change climate, which will ultimately determine
the future of our planet.”
MARCO BIZZARRI
Gucci’s President and CEO

Introduction

Regenerative Farming for Our Future
A big part of our sustainability focus is around the raw
materials we use: not only to reduce their associatedimpacts, but also to leave behind a positive footprint where
and when we can. This means sourcing from agricultural systems
that can replenish and strengthen nature, rather than deplete it
through chemically-intensive conventional methods. So, we’vebeen championing organic raw materials for some time now and,at the very beginning of 2021, we announced that we’re shifting oursourcing strategy to pursue materials from regenerative farming
systems, too.

During the year since announcing our objective, we worked hard
putting in place the mechanisms to set up regenerative farming
projects: to turn our vision into reality. Starting with feasibility
studies to map out our supply chains so we can identify farms andsupplier partners that can meet our needs, we’ve been focusing ona number of our key raw materials including cotton, wool, leather,silk and linen. We’ve made good progress so far: we’ve already set
up partnerships with farms to support their adoption ofregenerative agriculture practices with a view to purchasing theresulting raw materials. Our newest regenerative projects include:

In short, regenerative farming improves the overall quality andhealth of the land by rebuilding and regenerating; enriching andincreasing soil health, water quality, biodiversity, animal welfare
best practices and, significantly, removing carbon from theatmosphere which is essential in the fight against climate change.
While this is not something that can happen overnight due to raw
material availability and the time it takes to implement—and reap
the outcomes—of these farming methods, we made a firm
commitment to source regenerative raw materials for ourcollections. This objective is also a linchpin in our circularity
strategy, as the raw materials produced under these conditions arepart of a circular economy for fashion. By using ”good” materials
from the very beginning, our industry would be one step closer tobecoming circular in every way.

Regenerative wool from Uruguay where we’re supporting a groupof ten farmers for the adoption of regenerative agriculture
practices, with a projected potential to replace 19% of theconventional wool we currently use
Regenerative wool from Alpago, in the Italian region of Veneto,
whereby we’ve already started integrating this wool into ourcollections starting with ARIA
Regenerative cotton from Sicily, with a projected potential
to replace 5% of the conventional cotton we currently use
Regenerative silk from Calabria, with an aim to use the regenerativesilk for the first-ever 100% Italian Gucci scarves
Piloting a new project for the regenerative cultivation of linen
and cotton from the Salento area, in the Italian region of Apulia
We’ll be sharing further updates on our progress and next steps toincorporate these raw materials—and others—from regenerative
farming systems into our collections.

At the same time, and with a similar philosophy to how we’re protecting
forests and biodiversity outside our own regions of operations, it’s
important to support farmers shift to regenerative farming more broadly.
Here, we’ve been incentivising farmers through ‘carbon farming’. This typeof investment is important to help bridge the financial gap between thecost of making changes and the time it takes for farmers to realise theproductivity and profitability benefits of regenerative practices. As an
example, in 2021, as part of our Natural Climate Solutions Portfolio, we
funded regenerative projects for wool and leather globally covering 3,075
hectares, allowing for the capture of approximately 25,000 tons of CO2
over five years. In turn, this will catalyse over 32,000 hectares of land
managed with regenerative practices and bring about an additional
200,000 tons of CO2 sequestered over the projects’ life. For wool sheep
farmers in Patagonia, this means helping them convert to regenerative
grazing on 1,800 hectares of grasslands. Over the next years, oncemeasurable, positive outcomes have been verified through an accredited
third-party and validated against a recognised standard, the resulting
carbon credits we purchased in advance to fund these projects’conversion to regenerative practices will be applied against
compensating for our residual greenhouse gas emissions.

PeoplePlanetIntroduction

PeopleConserving Vital Forests

Restoring and Protecting Mangroves

Under our Natural Climate Solutions Portfolio we’vebeen maintaining our commitment to carbon neutrality
in Scopes 1,2 and 3 of the Greenhouse Gas Protocol bytranslating all the remaining greenhouse gas emissions
linked to our activities into investing in verified REDD+(Reducing Emissions from Deforestation and Forest
Degradation) projects, a United Nations backed
programme to preserve and sustainably manage
forests to prevent carbon from being released into theatmosphere when trees are cut or burned. This meantthat we supported the Kariba REDD+ project, which
protects the Miombo forest in Zimbabwe, including
grasslands, savannah and shrublands in this threatened
subtropical ecosystem, through compensating for our
remaining emissions in 2020. For our 2021 residual
emissions, we supported the Kariba REDD+ project
once again as well as supporting afforestation in Kenya
covering just over 6,000 hectares of land through the
TIST programme which encourages local farmers to
improve their environment and farms by planting andmaintaining trees on degraded and/or unused land. We
also pre-purchased carbon credits earmarked towards
our 2022 emissions compensation to support the Madrede Dios REDD+ project in the Peruvian Amazon, which
protects tropical rainforests in the region. Annually,
these projects protect huge swaths of critical forestsand biodiversity.

As one of the only trees that grow in saltwater,
mangrove forests are considered to be “superhero”
ecosystems straddling land and sea. Mangroves store
up to ten times more carbon than mature terrestrial
forests, however, 30-50% of the world’s mangroves
are already lost and they continue to disappear at
a rate of 2% each year. When these ecosystems aredamaged or destroyed, an enormous amount ofcarbon dioxide is emitted back into the atmosphere,
which contributes to climate change. That's why weinvestin the protection and restoration of mangroves
beyond our compensation strategy for carbon neutrality.
In 2020, we invested in the Muskitia Blue Carbon REDD+
project in Honduras and we will continue supportingthe conservation of this important ecosystem in 2022,
too. A UNESCO world heritage site, the Muskitia region
is home to some of the most unique and continuous
forest in Central America. The project protects nearly
5,000 hectares of mangroves and over 285,000 hectaresof forest from deforestation, translating into theprevention of 62,500 tons of CO2 being released
into the atmosphere every year.

PlanetIntroduction

Supporting Communities Locally:
Education, Healthcare, Livelihoods
The projects within our Natural Climate Solutions
Portfolio deliver multi-benefits to the local
communities, creating a positive economic andsocial impact. It's a big part of the projects’ holistic
approach; the thinking behind REDD+ is to create
sustainable income-generating activities thatempower the local communities to move away frompractices linked to deforestation. Consequently,
the majority of the projects’ proceeds from sellingcarbon credits generated by forest conservation
remain in the local communities, financing a myriadof actions across health, education, training, andwomen empowerment. As an example, the Kariba
REDD+ project we’ve been supporting since 2019is a community-based project in Zimbabwe,
administered by the four local Rural District
Councils of Binga, Nyaminyami, Hurungwe andMbire. Over 82,000 people living in the Kariba
project work together to protect this important
ecosystem and the proceeds from doing so havebeen channelled into providing better healthcare,building infrastructure and school subsidies.
Creating sustainable livelihood opportunities isa big part of the project’s focus and activities inconservation agriculture, community gardens,
beekeeping training, fire management, andecotourism create jobs and facilitate
climate-friendly incomes.

PeopleProtecting Habitats, Safeguarding
Endangered Wildlife
Through our Natural Climate Solutions Portfolio
we’ve been able to play a role in protecting andrestoring high biodiversity landscapes and wetlands
that are home to a large variety of wildlife, many ofthem vulnerable and endangered species like jaguars,
African elephants, lions, and hippos. Especially giventhat approximately 80% of the world’s land-based
species live in forests, protecting their habitats fromdeforestation and forest degradation has a dramatic
impact on wildlife and biodiversity conservation. In
fact, by restoring only 15% of ecosystems in priority
areas, 60% of expected biodiversity extinctions can
be avoided.
We’ve also partnered with initiatives like The Lion’s
Share Fund since 2020 to augment our contribution
to ecosystem restoration. Led by the United Nations
Development Programme (UNDP) and a coalition ofbusinesses and UN partners, the Fund is a uniqueinitiative raising much-needed funds to protect
endangered species and their natural habitats on
the ground in some of the most important ecosystems
in the world.

The Lion's Share Fund has supported over 20
conservation and animal welfare organisations
through projects in 15 countries, and, in 2021, ourdonations were earmarked towards a variety ofimportant programmes, including:Supporting ongoing work in the Leuser
Ecosystem, securing and restoring 1,093 hectaresof forest corridor vital for the migration of
Sumatran elephants
Training beach rangers in Sri Lanka to thwart
poaching, egg gathering and other destructive
actions towards the sea turtles that come ashore
to nestSupporting the all-female Black Mamba
Anti-Poaching Unit in South Africa

PlanetIntroduction

METHODOLOGY& REPORTING
The Gucci Equilibrium Impact Reportcovers a selection of the social andenvironmental commitments and actions
we have made in our direct operations
and across our supply chain.
In addition to this overview, we report on our commitment and progress
towards our sustainability goals in many other ways throughout each year,
as well as through a wide range of surveys and industry rankings coveringa broad array of issues. For more detailed information on Gucci’s and ourparent company Kering’s sustainability strategy and methodology pleaserefer to the following documents and platforms.

PeoplePlanetGucci Equilibrium

Gucci Digital EP&L

Gucci Equilibrium is our commitment to generate positive change
for people and our planet. It unifies the principles we uphold and theactions we pursue to treat our world and each other better, for ourcollective future. Discover Gucci’s sustainability news and articles
on our efforts by visiting equilibrium.gucci.com.

To provide even greater transparency, we launched a customised
Gucci Digital EP&L in 2019. This open source platform is a testimony
to our underlying philosophy of transparency, welcoming all formsof collaboration with our peers, across our industry. It drives greater
understanding of our sustainability approach and enables different
stakeholders in our industry to leverage the EP&L through its
underlying data sets.

Kering Environmental Profit and Loss (EP&L)

Kering Universal Registration Report

Gucci’s total environmental impacts associated with our businessactivities in our direct operations and across our supply chain
are rigorously calculated on an annual basis. To do this we use
Environmental Profit and Loss (EP&L) accounting, which waspioneered by our parent company Kering. An EP&L account measures
greenhouse gas emissions, air and water pollution, water consumption,
land use and waste production along the entire supply chain, thereby
making the various environmental impacts of Gucci’s activities visible,
quantifiable and comparable. EP&L accounting now also looks at
consumer use and end of life. Any variation of 2015-2021 EP&L datawith respect to already published data is due to a periodical updateof EP&L coefficients as per Kering’s Methodology.

The report includes Kering’s annual financial report, the report ofthe Board of Directors on corporate governance, the internal control
and risk management procedures implemented by the company andthe reports from the Auditors. The report is developed for a range ofstakeholders, including employees, local communities, nongovernmentalorganisations (NGOs), customers, investors and government.

These impacts are then converted into monetary values to quantify
the use of natural resources. By measuring all our environmental
impacts, we can focus in on the most significant drivers of impacts
from our business and make better-informed decisions. This
data-driven approach allows us todevelop robust policies andprogrammes to reduce our footprint and drive tangible, positivechange. With this deep knowledge, we can also respond to the risks
and opportunities presented by any environmental challenges.

Kering Integrated Report
The report delivers a comprehensive view of Kering’s global value
creation gained from its creative, financial, environmental, ethicaland social dimensions.