Milan, July 15 (LaPresse) – "Loro Piana acknowledges the notification received today from the Preventive Measures Section of the Milan Court regarding labor practices carried out by undeclared and unauthorized sub-contractors of one of its suppliers," the company said in a statement.
"In violation of its legal and contractual obligations, the supplier did not inform Loro Piana of the existence of these sub-contractors. Loro Piana became aware of the situation on May 20 and, as a result, terminated all relations with the supplier involved in less than 24 hours."
Loro Piana "firmly condemns any illegal practices" and "reaffirms its ongoing commitment to the protection of human rights and to compliance with all applicable regulations throughout its entire production chain."
Loro Piana is committed to ensuring that all its suppliers adhere to the highest quality and ethical standards of the Maison, in line with its Code of Conduct. In this regard, Loro Piana constantly reviews and continues to strengthen its monitoring and auditing activities.
"The reported costs are not representative of the amounts actually paid by Loro Piana to the supplier, nor do they reflect the entire production process or the overall value of all elements, including, among others, raw materials and fabrics."
Loro Piana — the statement concludes — "expresses its full willingness to cooperate with the competent authorities on the matter and intends to provide maximum support for any further investigations."
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