Letter from the Chairman

Dear Stakeholders, 
it is with great pleasure that I present to you Yamamay’s 2023 Sustainability Report.

This year, thanks to the commitment and dedication of our entire Team and the constructive collaboration with our Stakeholders we achieved significant milestones in many areas.

Nevertheless, we are well aware that our path towards full sustainability is still long and full of challenges.

In 2023, we continued to strengthen our commitment to responsible and sustainable management, following the principles outlined by the AA1000 Stakeholder Engagement Standard.

This approach has allowed us to engage our Stakeholders in a more effective manner, collecting valuable feedback and adapting our strategies to their specific needs and expectations.

One of the tools developed to periodically monitor and constantly improve our performance in economic, social and environmental terms was our Sustainability Balanced Scorecard, which we refined even further to now include 24 key indicators.

We have also made significant progress in reducing our environmental impact. The percentage of energy purchased from renewable sources in Italy has increased to 47% and our total greenhouse gas (GHG) emissions – without taking into consideration the use phase – have been reduced by 17% compared to the previous year. These achievements are the result of an ongoing commitment to energy efficiency and the adoption of cleaner technologies. Moreover, we have also implemented several initiatives to reduce our carbon footprint, including the increasing use of more sustainable materials.

In terms of social responsibility, we have introduced a programme that allows our employees to dedicate one working day a year to volunteer activities.

A small step, but definitely in the right direction.

However, we cannot ignore the gaps that still exist. Indeed, we must intensify our efforts in some areas such as transparency along the supply chain, the reduction of non-conformities in quality controls and the implementation of circular economy practices. Our participation in the United Nations Global Compact commits us to pursuing these objectives with even greater determination and transparency.

Likewise, the path towards the creation of stores that can represent a new and more sustainable, welcoming and inclusive operating model has not been without its share of complexity and requires greater commitment to be successfully completed.

The sustainable transformation of our business, characterised by unprecedented legislative, regulatory and technological evolutions, urges us – and in some manner requires us – to develop a new and creative way of thinking, not only to redesign our product according to an ecodesign perspective, but our entire operating model.

Ambitions, progress, and striving towards growth can only find their ideal breeding ground in the values and noble purpose of the Company: that of creating well-being by caring for the beauty that is in each of us. This is the real challenge with which we are faced: being aware of our limits, cultivating a feeling of urgency to build a better future.

And it is everyone’s responsibility. Today, no one can any longer think that the economic and financial dimension is sufficient to build and demonstrate the meaning, relevance, value and sustainable success of our Brand.

Thank you for your attention and ongoing support.

With kind regards,  
Francesco Pinto