Versace Pledges Donation to Chinese Red Cross Foundation

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Versace Pledges Donation to Chinese Red Cross Foundation
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.Versace is the latest company to take concrete action to help contrast the coronavirus.

The Italian luxury company pledged Wednesday to donate 1 million renminbi, or $143,400, to the Chinese Red Cross Foundation to alleviate the shortage of medical supplies.

Versace’s parent company Capri Holdings Ltd. on Wednesday said the virus is expected to reduce this quarter’s revenues by $100 million as the outbreak continues to spread.LVMH Moët Hennessy Louis Vuitton has pledged 16 million renminbi, or $2.3 million, to the Chinese Red Cross Foundation to help alleviate the urgent medical supplies shortage in Wuhan.

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