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IMD acknowledges family business excellence

GRAN CANARIA, Canary Islands: November 10, 2017. Swiss business school IMD has recognized global brand management company Pentland Group with its 22nd Family Business Award.

Begun in 1932 as a shoe manufacturer based in Liverpool, UK the privately held company owns Speedo, Berghaus, Canterbury, Boxfresh, Ellesse, KangaROOS and Mitre brands. Controlled by six family members, Pentland employs 20,500 people worldwide and generates £2.9 billion in annual sales.

IMD said it recognized Pentland for its commitment to Sustainability, ethical trade, human rights, outstanding contributions to combating modern day slavery as well as its skill in regenerating itself through innovation and entrepreneurial venturing.

Pentland modern slavery report"Pentland Group plc is an outstanding organization that has for decades successfully blended an enduring venturing and entrepreneurial spirit with a strong commitment to sustainability, human rights and environment throughout its value chain," said IMD president Jean-François Manzoni. "It is a flagbearer for family business excellence that operates according to the very best practices and offers inspiration to its peers. Pentland Group is a most worthy recipient of this year's prize."

In June this year the company published a report outlining actions to combat modern slavery in its global supply chain and protecting the rights of migrant and homeworkers.

Pentland is now working with human rights experts Verité to develop a best practice-training program for supply chain and CSR employees; an assessment tool for country and factory-level risk; and a factory investigation and remediation process on slavery risk indicators at a high-risk factory in Thailand.

"Being a global sportswear and footwear business means we can play a pivotal role in protecting people's rights," explained CEO Andy Long. "I'm particularly proud of our work in Thailand, which is close to being the first apparel and footwear initiative to tackle migrant worker recruitment and employee practices in this high-risk region."

Commenting on the IMD award, third generation family shareholder and Pentland chairman Andy Rubin said: "To be recognized externally is a great validation of what we do. It helps us – as a private family business – to see that we benchmark with the very best. We are constantly learning and evolving and are passionate about our people, our brands, our customers and being good corporate citizens."

The IMD Global Family Business Award was created in 1996 with the aim of sharing best practices of the oldest and most widespread business model in the world that "represent capitalism with a human face and [the best of them] outperform public companies in terms of long-term growth, profitability, and stability".

Previous winners include LEGO, Ayala Corporation, S.C. Johnson, Hermès, Barilla, Yazaki Corporation, Merck, Firmenich, Bel Group, Bavaria and Jebsen & Jessen Family Enterprise.

Pentland-Modern-Slavery-Report.pdf

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