If you want to reduce your energy bill, they say you should turn off the lights and adjust your thermostat. Luxury giant LVMH is doing both — not to save money, but to ease up on its overall energy consumption.
LVMH Group — parent company of Louis Vuitton, Christian Dior, Tiffany & Co., and more — announced a plan that would reduce its overall electricity use by 10 percent. The announcement comes shortly after the President of the French Republic addressed tensions in the electricity market this winter, calling on retailers and businesses to lead by example.
Dimming the lights — Between October 2022 and October 2023, the LVMH Group will start turning off the lights in its Maison stores between 10 p.m. and 7 a.m. every day. The administrative offices will follow a lights-out rule at 9 p.m. In the industrial sites, administrative sites, and stores, the Group also plans to adjust the indoor temperatures by 1 degree Celsius warmer in winter and 1 degree Celsius cooler in summer, compared to the usual heating and air conditioning settings.
LVMH employees will also receive training on how to improve their personal energy consumption on and off the clock. Whether it’s turning off lights and screens, unplugging chargers and electric cars, or taking the stairs instead of the elevator, the company plans on managing consumption across the board.
Each of the Maisons will build off the overarching framework but have the option to adjust to their specific locations. Moët Hennessy, for example, plans to reduce its consumption by 15 percent in 2023. French employees are also encouraged to monitor and manage energy at home through the EcoWatt app.
Being this luxurious takes energy — According to the company’s announcement, LVMH’s current energy consumption in France is equivalent to a city of 150,000 inhabitants. By 2026, it plans to achieve a 100 percent supply of renewable or low-carbon energy across its workshops, stores, and offices. As of now, its French locations use 100 percent green electricity and 39 percent renewable energy globally.
Most companies turn to manufacturing, shipping, and resale to maintain their carbon footprint. Burberry followed a similar blueprint to LVMH when it received an SBTi approval by managing the impact of its operations and manufacturing, including the electricity and gas from its stores, manufacturing plants, and offices.
More investments throughout the energy transition will cover the sensors and meters needed to monitor the progress. The electricity reduction plan will apply to France first, and globally soon after.