LVMH to Supply At Least 40 Million Masks to France
Financing the first 10 million itself.
Luxury conglomerate LVMH will be supplying French authorities with at least 40 million masks beginning early next week to fight the coronavirus.
According to an official statement from the company, LVMH has been able to secure an order from a Chinese manufacturer, and the first 10 million — seven million of which are surgical masks and the remaining three million being FFP2 masks — will arrive in the coming days. A similar order will be made for at least four weeks, totalling to roughly 40 million masks for the government and healthcare authorities in France. To ensure that production begins immediately, the company’s CEO Bernard Arnault has ordered LVMH to fund the first batch, which comes in at a cost of €5 million EUR. Once the masks are ready, the group will handle every step of the process from managing its supply chain to delivery to customs clearance.
It’s not the first contribution LVMH has made towards fighting the coronavirus pandemic in France. Previously, it converted its perfume and cosmetics factories to manufacture hydroalcoholic gel to meet the hand sanitizer shortages in the country, all of which were donated for free.
Elsewhere in coronavirus-related news, Apple is also donating millions of masks to the US and Europe.
#LVMHjoinsforces | LVMH will supply 10 million masks in France early next week.
Learn more: https://t.co/tySCbOizTx— LVMH (@LVMH) March 21, 2020
