Save the Children announced today that Bulgari have pledged $7.4m (AUD$8.1m) to Save the Children’s commitment to provide quality education programs around the world during 2011. Just the other day, we commented on how much luxury brands could benefit from such action. This is a contribution to a great cause that will also undoubtedly do wonders for their bottom line. It will be particularly interesting to see how this effects the brand’s popularity in China- see Luxury Brands & CSR.Critics will be critics, and already bloggers have accused Bulgari of ‘using’ philanthropy to their own advantage. Let us ask this: does anybody care? Children who wouldn’t otherwise, will now get the chance to go to school. As far as we are concerned, everybody wins! What’s more, this act of charity will not expire come next year’s campaigns, by training teachers, Save the Children can provide communities with a sustainable resource for educating children in years to come. In addition, we look forward to the newest Save the Children ring- proceeds to go to back into the program.
Image credit: sweatandpeasstilettos.com
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2 comments:
I commented on Philanthropic Shopping in America last December, and think the principle remains true. http://thirstythreads.blogspot.com/2009/12/world-aids-day-feel-good-shopping.html
In a perfect world, philanthropies get much needed exposure and support from non-traditional resources, and businesses are seen even more favorably to their ever-so-competitive consumers.
In a tricky global economic reality, businesses are branching out in more innovative ways than ever before to capture new clients, retain their loyal customers, and edge past the competition.
But you're exactly right to point out that some brands can exploit these philanthropic endeavors and in turn further alienate themselves from their competitors, push away loyal clients, and turn off potential customers.
I know you've commented on this situation in China; have you seen this in Australia?
No Joseph we haven't, thankfully. Corporate philanthropy in Australia is increasing, however it certainly has some way to go in comparison to the US market, in particular. It is certainly where Corporate Australia is undergoing a paradime shift, in order to be seen as a truly successful company, 'giving' in some way is what more (B2B) business to business and end consumers are wanting to know to ensure their investment is going to a successful company that are generous with their profits and not miserly, i.e. giving back and ethical in their approach.
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