Rituals promises to donate 10 % of its net profit annually to charity from now on. The Dutch cosmetics chain joins a growing group of charitable retailers and brands. What motivates them to do it?
Growing movement
Over the next ten years, Rituals expects to donate between 300 and 400 million euros to charities as the company promises to donate 10 % of its annual net profits, according to the ‘Profit Pledge’ that owner Raymond Cloosterman is making public. This year alone, this could amount to some 25 million euros.
In the beauty sector, Rituals is a pioneer, but more and more companies worldwide are making such a pledge.
