LVMH Beauty, the French luxury group’s fragrances and cosmetics division, which includes brands like Christian Dior Parfums and Guerlain, has signed a multi-year partnership deal with Origin Materials, a US company specialised in manufacturing carbon-negative materials. LVMH is looking to buy carbon-negative PET for producing the packaging of its perfumes and beauty products.
“PET produced using Origin’s technology is functionally identical to petroleum-based PET, but has a significantly lower carbon footprint, since it is manufactured from wood residue that absorbs carbon. Origin’s PET is also as recyclable as fossil-based PET within the existing infrastructure, which is critical to creating a circular economy with a significantly reduced carbon footprint,” said Origin Materials which, according to US media, is soon expected to make an investment of approximately $750 million in a plant for transforming wood residue into bio-sourced materials, located in Louisiana, USA.
By joining forces with Origin Materials, the LVMH group, one of the first members of EcoBeautyScore, a consortium that aims to develop an industry-wide environmental impact assessment and scoring system for beauty products, has strengthened its commitment to increased sustainability. Claude Martinez, executive president and CEO of LVMH Beauty, said in a press release: “At LVMH, with our Life 360 programme, we made the decision that our packaging will contain zero plastic from virgin fossil resources in a near future. Origin’s bioplastic technologies are playing a crucial role in helping LVMH achieve our sustainability targets without any compromise on quality.”
LVMH, the world’s number one luxury group, generated sales worth €18 billion in Q1 of the 2022 fiscal year, equivalent to a 29% increase over the same quarter last year. Sales for the group’s perfumes and cosmetics division increased by 23%, reaching €1.9 billion.
Source: Fashion Network