Ralph Lauren Goes From Fashion to COVID-19 Relief With $10 Million Donation, Mask and Gown Production
The famous fashion and luxury retailer Ralph Lauren Corporation (NYSE: RL) has joined the coronavirus fight with a pledge of $10 million to help stop COVID-19's spread, or at least mitigate its effects. In addition, the company, which is in an excellent financial position, is launching large-scale production of masks and gowns to aid in increasing supplies of these critical healthcare items.
Image source: Ralph Lauren.
Part of the $10 million in charitable funds is earmarked to help Ralph Lauren employees impacted in various ways by the novel coronavirus. The aid will come in the form of grants that will help cover the medical expenses of workers who fall ill, along with assistance to cover child care and eldercare. Another portion of the money is designed to give financial help to affected people in the fashion industry, through the Council of Fashion Designers of America (CFDA)/Vogue Fashion Fund.
Source Fool.com
