The company has an interest in the animals’ skins, which end up as high-end handbags, belts, wallets, and shoes. Africa’s biggest crocodilians, Nile crocodiles can grow to weigh over 1,500 pounds (680 kg) and reach close to 20 feet in length.
In 2010, the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) placed a moratorium on the Nile crocodile trade from Madagascar, after a study showed both crocodile farms and wild population numbers to be insufficiently monitored.
That ban has since been lifted, creating an opportunity for the ITC and Kering to research and maintain what will hopefully be a better-managed, more sustainable trade in Nile crocodile skins from Madagascar.
Partly, it’s a matter of balancing conservation with the economic opportunity the reptiles offer locals. For many people in impoverished areas of Madagascar, collecting and selling the wild crocodiles’ eggs provides important income.
The ITC will gather data about how many animals are captured and how many eggs collected, as well as research on both farmed and wild populations.
The collaboration shows an inclination toward investment all the way up the supply chain on the part of luxury brands, where crocodiles provide one of the fashion industry’s most valuable materials. In February of 2013, Kering’s competitor LVMH purchased an Australian crocodile farm for $2.5 million. Soon after, Kering bought a tannery in Normandy, France which specialises in securing and processing crocodile hides.