♻️ Prada Is The First Luxury Fashion House To Ink A Sustainability Loan | V:
Prada Is The First Luxury Fashion House to Ink a Sustainability LoanThe Italian fashion group continues to champion sustainability with its latest 'green' initiative.Prada has signed a 5-year-long sustainability term loan worth €50 million with Crédit Agricole Group this past Tuesday.
Though this initiative is very unique in its concept, Crédit Agricole has previously given similar sustainability-linked loans to entities like natural gas distribution company Enel and Hong Kong's Swire Properties. The loan is the latest of several sustainability projects recently undertaken by Prada S.p.A.
“This transaction demonstrates that sustainability is a key element for the development of the Prada Group, increasingly integrated into our strategy,” Prada’s chief financial officer Alessandra Cozzani told Vogue Business.
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