Chiara Ferragni, leader in Corporate Social Responsibility
The Tod’s Group appoints Chiara Ferragni as a member of the Board of Directors. It would seem sensational and at risk of woke washing (practice aimed at signals the advocacy of specific causes in the community but which is eventually only a communication operation disguised as a social cause).
In the first instance, it would seem so. The stock price on the stock market immediately after the announcement shot up and gained 14% in the session of April 9, 2021.
But on a more careful analysis, the company choice (because it is a strategic decision) is a more than sensible move.
First of all, this is how Tod’s Group communicated the appointment with a post on the company LinkedIn page:
Social commitment, solidarity with others, sustainability in respect of the environment and dialogue with the younger generation are increasingly important. On this basis, the Tod’s Group appoints Chiara Ferragni as a member of the Board of Directors.
We are sure that Chiara’s knowledge of the world of young people, combined with the experience of the members of the Board of Directors, can build a group of thought dedicated to solidarity, with a strong focus on the young generation, which now more than ever needs to be listened to.
“I thank Diego Della Valle for his trust and respect towards me as a woman and as a manager”, explains Chiara Ferragni, digital entrepreneur and icon of Made in Italy. “Joining the Tod’s Group means giving a voice to my generation through one of the excellences of Italy in the world”.
“I am very pleased that Chiara Ferragni has joined our C.d.A.”, states Diego Della Valle, President of the Tod’s Group. “Chiara’s knowledge of the world of young people will certainly be extremely valuable. Together, we will try to build solidarity and support projects for those in need, raising awareness and involving the new generations more and more in these kind of operations”.TOD’s Group Linkedin Profile, April 9th 2021
Secondly, it must be considered that Chiara Ferragni is first of all an entrepreneur who knows about business and not just trivially an influencer. She is a brand of herself, and she has been good at developing a universe around her person that she has been able to foster and grow.
Social commitment, solidarity with others, sustainability in respect of the environment and dialogue with the younger generation. These are the reasons that led the company to the appointment.
Let’s see some CSR initiatives that have been led or sponsored by Chiara Ferragni to understand more and “justify” this choice (if necessary).
April 2019: ambassador for the Pomellato Sisterhood Initiative, a campaign to promote female empowerment and a message for all the women who believe in the power of being stronger together in order to achieve great goals (link)
March 2020: at the beginning (and maybe in the worse period) of the Covid pandemic, Fundraising for the activation of new intensive care at the San Raffaele Hospital in Milan. Almost 4.5 million euros raised for equipment needed to triple the number of intensive and sub-intensive care beds (ventilators, non-invasive ventilation devices, hemodynamic monitoring, monitors).
June 2020: Sunday and after a happy weekend with her family, Ferragni protested on the streets of Milan to support the black community, fighting for Black Lives Matter. With the following she has on Instagram, this has certainly stirred the opinion of many.
June 2020: Visit the Uffizi in Florence after a photoshoot in the museum. In addition to Chiara Ferragni, the museum itself had also published photos on the official social profiles. There has been a lot of controversies and many detractors considered this just a publicity stunt that devalues art. Result? The data that had been published spoke of 27% more young people, giving reason to the director of the museum complex Eike Schmidt who had had the idea
October 2020: call for action via Instagram, together with her husband Fedez, to encourage all young people to wear the mask and fight the spread of Covid, following the request of the Italian premier Conte
March 2021: support the Quid project – the social organization that guides fashion to ethics and innovation – through his blog (The Blonde Salad)
It is therefore not surprising if the choice to raise public awareness on different issues is one of the things that led Chiara Ferragni to the Board of Directors of Tod’s.