2015 Letter from the Chairman
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SALVATORE FERRAGAMO S.p.A. SUSTAINABILITY REPORT 2015 LETTER FROM THE CHAIRMAN The inspiration that drives the The attention to world-class our operations. It documents and Salvatore Ferragamo Group craftsmanship is accompanied presents the corporate social re- stems from the passion for world- by our investments in innovative sponsibility initiatives carried out class craftsmanship, in accord- and environmentally sustainable in 2015 concerning economic, so- ance with the values inherent in materials, so as to offer our cus- cial, and environmental aspects, the Brand's DNA. One of these tomers a fascinating and state- and constitutes another important values has always been sustain- of-the-art product. The Salvatore step for Salvatore Ferragamo on ability, in the sense of a behavioral Ferragamo Group makes signifi - its journey towards sustainability. model to pursue without making cant investments in creative and any compromises. stylistic innovation, which involves Fostering transparency through- also researching and developing out the production chain, celebrat- materials with a low environmental ing the people that work for the impact. The search for ingenious Company, promoting the local solutions has always been a de- community, and protecting the fi ning characteristic of the Com- environment have always been pany since the beginning: during high on the agenda of Salvatore the years of autarky, Salvatore Ferragamo right from the start. Ferragamo used innovative and The Group's commitment is original raw materials to create its refl ected in a culture of respect shoes. This approach continues to that is also part of the Made in underpin our creative process to Italy tradition, which we carry on this day. with pride. Over the years, corporate social My father was one of the fi rst to responsibility not only has become believe in the importance of hand- an integral part of the Company's crafting and the attention to de- goals, but also a key tool in plan- tails, which still characterize our ning for the future, seeking to cre- products today. Combined with ate sustainable value for years transparency and sustainability at to come for the benefi t of future all stages of the production chain, generations. they provide our customers with The Sustainability Report testifi es a unique product and purchase to our motivation and intention to experience. communicate transparently about Sustainability Report 2015 3 MESSAGE TABLE OF CONTENTS FROM THE CEO LETTER FROM THE CHAIRMAN MESSAGE FROM THE CEO METHODOLOGY 1. SALVATORE FERRAGAMO 10 The history: from the origins to world-class Made in Italy products The products: style and uniqueness The Ferragamo Group today The Ferragamo Group's operating and fi nancial performance Rsponsible management The approach to sustainability 2. A SHARED HISTORY 30 A Company of people Diversity and equal opportunity Promoting human capital Company welfare Occupational health and safety Internal communication 3. RESPONSIBLE PASSION 44 Made in Italy: a long-standing tradition Responsibility and attention to customers The digital experience for the Salvatore Ferragamo customer The extremely volatile economic and professionalism - in order to the Group has set for itself, and Technology and traceability to protect authenticity scenario, the currency market, align stakeholders with our eco- what it has accomplished. Brand protection and anti-counterfeiting the international geopolitical situ- nomic, social, and environmental Our commitment fosters an ation, and the multi-speed global goals. innovation of the business model 4. SUPPLIERS AND CONTRACT MANUFACTURERS: SHARED VALUES 56 economy are putting pressure With over 4,000 employees and a allowing to consolidate our com- Supply chain sustainability on businesses and compelling us presence in about ninety countries petitive advantage and reduce the to tackle new challenges in order across the globe, we are a robust risks of negatively impacting our Sustainable procurement of raw materials to create medium- and long-term and structured entity in terms of stakeholders. This will make us Retention of contract manufacturers and responsible production value. technology, professional skills, and even more reliable and proud of Materials research and development To do so, we must react and human capital. Our Group stands our values in the future. adapt effectively to change and out for its unique history and herit- 5. OPERATING EFFICIENTLY 68 the new demands from the mar- age, and has turned tradition and Energy consumption ket, while engaging openly with all the Made in Italy concept into the Water consumption stakeholders. pillars of its identity. Salvatore Fer- Waste management To respond to current trends ragamo, our founder, featured as a Materials consumption with a structured approach, we pioneer in the process that even- Emissions monitoring decided to embark on a journey tually gave rise to the Made in Italy Leed platinum building towards long-term sustainability, concept, which is based on quality, Sustainable mobility which will become increasingly innovation, and integrity. embedded in our core business. We have a long history of cham- 6. CULTURE AND PARTICIPATION 78 Together with our values and our pioning initiatives that concern Promoting cultural and social development Company philosophy, this strategy sustainability: we have maintained Salvatore Ferragamo Museum is intended to combine the need our production in Italy, focusing Ferragamo Foundation to boost effi ciency - which has on corporate social responsibility always been driving the Salvatore throughout the supply chain; we BOUNDARIES OF THE ORGANIZATION'S MATERIAL ASPECTS 92 Ferragamo Group since the begin- promote and preserve the know- GRI CONTENT INDEX 93 ning - with economic profi tability. how that makes our products AUDITOR'S REPORT 99 The corporate social responsi- unique and authentic; we support bility reporting process is one of the local community, and always the many facets of this journey place special emphasis on protect- towards sustainability. The aim is ing the environment. to communicate our approach - With this Sustainability Report, we based on transparency, integrity, want to shine a light on the goals 4 Sustainability Report 2015 5 METHODOLOGY For Salvatore Ferragamo S.p.A. functions and focuses on promot- Sustainable development is development that (hereinafter also referred to ing and developing sustainability- meets the needs of the present without compro- as “Salvatore Ferragamo”), this related initiatives. mising the ability of future generations to meet Sustainability Report represents their own needs. Source: Report of the World the evolution towards a transpar- The reported information and Commission on Environment and Develop- ent and structured sustainability data, which are collected annu- ment: Our Common Future, also known as the reporting process, developed to- ally, refer to 2015 (from 1 January Brundtland Report gether with, and for the benefi t 2015 to 31 December 2015), and of, its stakeholders. It is a crucial in particular only to the activities The GRI envisions a sustainable global economy way to show what the Company Salvatore Ferragamo S.p.A. car- in which organizations responsibly manage and has done concerning sustainabil- ried out throughout the year, un- transparently communicate their economic, envi- ity during 2015, complementing less otherwise noted. ronmental, social, and governance performance operating and fi nancial data with The operating and fi nancial data and impacts. non-fi nancial information by pro- refer instead to the Ferragamo viding qualitative and quantitative Group and were taken from the The Sustainability Report helps organizations indicators. Annual Report as at 31 Decem- set goals, measure performance, and manage ber 2015. The data referring to change in order to make their activities more This Report, prepared annu- previous years is presented for sustainable. A Sustainability Report provides ally, was drafted in accordance comparative purposes only, so as information about the impacts of an organization with the “Sustainability Reporting to allow assessing the evolution of - whether positive or negative - on the environ- Guidelines - G4 version” issued in the Company's operations over a ment, society, and the economy. 2013 by the GRI - Global Report- longer period of time. Where the ing Initiative, taking into considera- data comes from estimates, it is tion the information deemed rele- fl agged accordingly. vant to stakeholders and drawing from the principles set out in the Guidelines. The matters discussed in the Sustainability Report, and the breadth and quality of the rel- evant reporting, refl ect the results of the materiality analysis. The reporting process and the preparation of this document involved all Salvatore Ferraga- mo's functions, which co-oper- ated under the central coordina- tion of the working group called “Green Team”. This consists of people from several corporate Contacts: For more information about Salvatore Ferragamo's corporate social responsibility policies and the information included in this Sustainability Report, you can send an e-mail to the following address specifi cally dedicated to corporate social re- sponsibility: [email protected] We wish to thank the entire internal Working Group and all the employees involved, who allowed to develop and prepare this Sustainability Report with their contribution. 6 “If vision is key to designing the company's strategy and so is execution to day-to-day