LVMUY LVMH Moet Hennessy Louis Vuitton SA (PK)

   By David Sachs 
 

LVMH Moet Hennessy Louis Vuitton said Monday that it has committed to reduce its water consumption by 30% by 2030.

The French luxury goods company said the goal aligns with a new French regulation to adopt specific action plans to conserve water. Water is essential to LVMH's alcohol, perfume and cosmetics, and clothing businesses, it said.

Among other measures, LVMH said it will reach the 30% reduction by monitoring water usage with pressure indicators and geolocation technology, reusing treated wastewater, and introducing water-recycling systems at distilleries and workshops.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

July 10, 2023 05:55 ET (09:55 GMT)

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