Italy Probes Tod's Executives Over Labour Exploitation [Barron's]
LVMH-MOET H/L/V UNSP/ADR (LVMUY)
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Source: Barrons
Milan Prosecutor Paolo Storari has also requested a six-month ban on the company's advertising, with a ruling due by a judge on December 3, according to the AGI and ANSA news agencies. Advertisement - Scroll to Continue The prosecutor's office alleged that Tod's -- known for its leather shoes -- was fully aware of the exploitation of Chinese subcontractors. In a lengthy document, it noted a kind of "intentional blindness" on the part of Tod's, which it said carried out audits but failed to take note of any of their results. And it said "the illicit system described has generated enormous profits thanks to the exploitation of (severely underpaid) Chinese labour and was made possible by serious organisational deficiencies". The Milan prosecutor had previously asked for Tod's to be temporarily placed under court administration for failing to carry out checks in the chain of production. Advertisement - Scroll to Continue In a statement on Thursday, Tod's said that Italy's t
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