Prada just took out a $55 million loan that'll see interest rates lowered in exchange for going green — and it's a first for the luxury goods industry

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The fashion world is recognized as the second most polluting industry after oil and has been working to become more eco-friendly in recent years.

The Prada fashion group has taken steps to become a more environmentally-friendly company. The fashion group has signed for a loan, which"will see interest rates lowered based on 'achievement of ambitious targets related to sustainability.'" It's being touted as the first business loan of its kind in the luxury goods sector. Visit Business Insider's homepage for more stories.

The Prada fashion group has taken steps to become a more environmentally-friendly company. The fashion group has signed for a loan, which"will see interest rates lowered based on 'achievement of ambitious targets related to sustainability.'" It's being touted as the first business loan of its kind in the luxury goods sector. Visit Business Insider's homepage for more stories.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

More reason to love Prada

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Prada Secures First Sustainability-related Loan in Luxury Goods IndustryCrédit Agricole Group will grant Prada SpA 50 million euros over five years through a Sustainability Term Loan, introducing a rewarding annual pricing adjustment based on the achievement of sustain…
Source: wwd - 🏆 24. / 68 Read more »

Prada Secures First Sustainability-related Loan in Luxury Goods IndustryCrédit Agricole Group will grant Prada SpA 50 million euros over five years through a Sustainability Term Loan, introducing a rewarding annual pricing adjustment based on the achievement of sustain…
Source: wwd - 🏆 24. / 68 Read more »