Gucci Will Stop Using Fur in All Collections Going Forward
Coinage, Life Well Spent. Presented by GEICO. Lasting after Gucci new Princetown Leather Slippers, you've decided that they must be apart of your wardrobe but you are unsure whether you should purchase them with your debit or credit card. We've got you. Okay, let's pretend you live in Chicago. Sales tax is over 10% so you're paying extra $60 on the shoes. Purchasing the Gucci's with your debit card, means you're done paying them off, but there's $650 less in your checking account. Let's see what happens when you pay with a credit card and pay only the minimum each month. An average credit card interest rate is around 16%, if the shoes are the only thing on your card and you made the minimum payment, usually about 4% of the balance You pay $26 per month for nearly three years including $128 interest. But let's be real, maybe you already sorta kinda have an outstanding credit card balance over $1300 because you bought these amazing Celine sunglasses and Mansur Gavriel Posternak bag on your last shopping spree. With the shoe purchase and tax, the updated amount in your account would be nearly $2000. By paying the minimum amount of 4% on the balance, roughly $80, it would take almost 3 years to pay off! Plus you'd pay an additional $402 in interest. That's practically enough for another pair of Selene sunglasses Bottom line, you're better saving up for a splurge and paying with debit. Think of all the other accessories you can buy by not paying interest. [SOUND] Coinage, life well spent presented by Geico.
Gucci is the latest brand going fur-free. The fashion house announced on Wednesday that it will eliminate fur from all future collections, beginning with the spring/summer 2018 season.
Along with stopping the use of fur, Gucci also joined the Fur Free Alliance as part of a long-term partnership with The Humane Society and LAV. The brand also announced that they will announce a charity auction of remaining animal fur items, with proceeds benefiting the aforementioned charities.
Gucci joins brands like Calvin Klein, Ralph Lauren, Tommy Hilfiger, and Armani in banning fur in their clothing and accessories. Products, like Gucci’s fur-lined loafers, will be replaced with products made of faux-fur, wool, and new fabrics.
Gucci’s decision was made by President and CEO Marco Bizzarri in collaboration with Creative Director Alessandro Michele. “Together, by committing to a culture of purpose, taking responsibility and encouraging respect, inclusivity, and empowerment, we want to create the necessary conditions for a progressive approach to sustainability,” Bizzarri said in a statement.
Gucci also announced they’ll be contributing €1 million ($1,186,415) as a founding partner of UNICEF’s Girls’ Empowerment Initiative. The donation will help UNICEF reach more than 50,000 girls around the world through empowerment programs.
The announcement comes as part of Gucci’s new ten-year “Culture of Purpose” sustainability plan, which underlines Gucci’s dedication to creating a more socially responsible business.