LVMH Beauty, the perfume and cosmetics division of the luxury group that includes Parfums Christian Dior and Guerlain, has just signed a multi-year partnership with Origin Materials, an American company specializing in making carbon-negative products. LVMH’s goal is to purchase carbon-neutral PET (polyethylene terephthalate) to manufacture packaging for its fragrance and beauty products.
«PET produced using Origin Materials technology is functionally identical to petroleum-based PET, but with a significantly smaller carbon footprint because it is made from carbon-capturing wood waste. In addition, Origin PET is also recyclable into fossil-based PET within existing infrastructure, creating a circular economy,» said Origin Materials, which plans to invest some $750 million in a plant to convert wood waste into biobased products in Louisiana. (USA), according to the American press.
By partnering with Origin Materials, the LVMH group, which is one of the first members of the EcoBeautyScore consortium, which aims to launch a common system for rating the environmental impact of beauty products, reinforces its commitment to greater eco-responsibility.
«At LVMH, with our Life 360 program, we have made the decision to go plastic-free from virgin fossil resources in our packaging for the foreseeable future. Origin’s bioplastics technologies play a crucial role in helping us achieve our sustainability goals without compromise on quality,» said Claude Martinez, CEO and CEO of LVMH Beauty.
In the first quarter of its 2022 financial year, the world number one in luxury goods achieved sales of 18 billion euros, 29% more than in the same period of the previous year. Perfumes and cosmetics recorded a 23% increase in sales to €1.9 billion.
