Oil Prices Slip as Iran Sanctions Relief and Hormuz Shipping Recovery Ease Supply Concerns 
China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery 
U.S.-Iran Diplomacy Helps Drive Gasoline Prices Down 15% From May Highs 
KPMG Australia Chairman and Senior Partners Exit Amid Escalating Whistleblower Scandal 
Meta Pauses Employee Activity Tracking Program Over Data Security Concerns 
South Korea’s KOSPI Rebounds as Samsung and SK Hynix Lead Tech Stock Recovery 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Tencent Reviews Marvelous Stake as Gaming Giant Reassesses Global Investment Strategy 
Oil Prices Drop as U.S.-Iran Talks Ease Supply Concerns 
Russian Stocks End Flat as MOEX Index Hits New 52-Week Low 
Australia Inflation Cools in May, But Core CPI Keeps RBA Rate Hike Risks Alive 
Oracle Cuts 21,000 Jobs as AI Reshapes Workforce and Cloud Expansion Accelerates 
SpaceX Stock Rebounds After Sharp Selloff, But Valuation Concerns Persist 
100+ Global Companies Push Governments to Prioritize Electrification for Economic Growth 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
SK Hynix Moves Closer to New York ADR Listing Amid AI Chip Boom 
Wall Street Slides as AI Stocks Tumble Following South Korea Tech Sell-Off 
Dolce & Gabbana, the Italian luxury brand, announced on Monday, Jan. 31, that it is ditching the fur. This means that it will no longer create accessories and clothing pieces for its fashion collection using such type of fabric.
Dolce & Gabbana made the announcement through a joint statement with Humane Society International, an animal rights association. According to Reuters, the brand will replace the material with eco-fur garments and accessories while still collaborating with fur craftsmen to maintain jobs and expertise.
In recent months, there has been a string of announcements from luxury brands. They have started expressing their support for using alternatives to avoid using materials that would hurt the animals. They have also voiced support for going vegan and plant-based, and the most recent label to give up fur was Moncler.
Dolce & Gabbana is the next company to ban animal fur after Moncler. The move is also part of the brand's effort to appeal to younger customers who are getting more sensitive to ethical and environmental issues. Some other big names in fashion that have already committed to ending the use of animal fur include Prada, Versace, Valentino, Armani, and Kering.
"The entire fashion system has a significant social responsibility role that must be promoted and encouraged," Fedele Usai, Dolce & Gabbana's communication and marketing director, said in a statement with regards to the company's move to switch to eco-friendly materials. "A more sustainable future can't contemplate the use of animal fur."
As per Vogue Business, the fashion company's declaration to ditch the fur was fully supported by the Humane Society International and the Humane Society of the United States. As mentioned earlier, the company will still work with master furriers in its supply chain and take in more sustainable faux fur and other alternatives.
Recycled materials are also on the list of options now. Usai added that they would also be developing environmentally friendly production processes.
Meanwhile, Dolce & Gabbana confirmed it is going fur-free together with the international animal protection group. In response to the move, the In Defense of Animals (IDA) reportedly celebrated the fashion house's decision after 9,000 people signed an alert urging the company to give up the fur. The organization has been advocating to wipe out the fur market since the 1980s.
