The change follows the company's recent announcement that it has created a dedicated team to identify, improve and disclose performance on material Environmental, Social, Governance (ESG) issues across its business, including topics like animal welfare. The company's forthcoming ESG strategy is expected to place a strong emphasis on its ability to bring ultimate luxury to life, partly through a curation of sustainable and ethical products, NMG said in a press release.

The company worked with the Humane Society of the US on its commitment to exit fur and drafted an Animal Welfare Policy that aligns with the Fur Free Alliance guidelines.

"We are delivering an ultimate luxury experience for our customers and their evolving preferences. We are updating our assortment to feature multiple sustainable and ethical luxury fashion categories," said Geoffroy van Raemdonck, chief executive officer, NMG. "It is clear the future is fur-free, and that includes the ultra-luxury space."

The Humane Society of the US applauded the company's new policy. "We welcome this important policy from NMG," said PJ Smith, director of fashion policy for the Humane Society of the US. "The company's fur-free pledge represents a transformational change in retail, and we applaud NMG for making progress on an issue that so many consumers care deeply about."

NMG plans to work with luxury brands creating new and innovative ultra-luxury concepts that satisfy the discerning tastes of luxury customers.

Fibre2Fashion News Desk (KD)