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Prada Signs Luxury’s First Sustainability-Linked Loan. Here’s What That Means.

Rivet’s 2021 winter issue has dropped! This in-depth issue examines the steps the global denim industry is taking to minimize its impact on the environment, from implementing zero waste production and design processes to establishing greenhouse gas emissions goals aligned with the Paris Agreement.

Prada Group has secured what is being hailed as the first sustainability-linked loan in the luxury-goods industry. The Italian luxury house, which also owns Miu Miu, Car Shoe and Church’s, announced Tuesday that it has signed a five-year, 50-million euro ($55-million) financial-assistance plan with Crédit Agricole Group that will reward the “achievement of ambitious targets…

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