Christian Dior SE CHDRY , a subsidiary of French luxury goods conglomerate LVMH Moet Hennessy Louis Vuitton SE LVMUY , is reportedly behind on the UK’s required supply chain disclosures. The company’s website also contained outdated statements about third-party certifications. What Happened : Until Jul.
19, Dior’s UK website displayed an anti-slavery statement from 2020 and an obsolete sustainability certification, Reuters reported. This was discovered through a review of company filings. The company’s non-compliance with the UK’s Modern Slavery Act of 2015, which mandates annual statements on steps taken to combat forced labor, has raised concerns.
The investigation into Dior’s practices has prompted calls from investors like Amundi and others for LVMH to take more aggressive measures in monitoring its suppliers’ treatment of workers. Following inquiries about its compliance with UK regulations, Dior published a modern slavery statement for 2023. The company claims to have ceased working with suppliers involved in illegal practices and is cooperating with authorities, according to the report.
See Also: Shiba Inu Lead Developer Shytoshi Kusama Nods To Crypto Analysts’ Sentiment On Selling Amid Market Crash: ‘They Really Want Your Cheap Crypto’ Despite the legal obligation to publish these statements, no company has yet been penalized for non-compliance. There are ongoing discussions among lawmakers and rights groups about introducing penalties for non-comp.