What does being a Benefit Corporation mean?
A Benefit Corporation is a legal form that redefines its purposes in its by-laws.
Our commitment for the future
It is necessary to underline that even if Davines has become a Benefit Corporation, it remains a B Corp.
The change in the by-laws is meant to bind us further not only in the present, but also in the future to keep our commitment for the benefit of the people, the community and the planet.
Changing the paradigm
The concept of Benefit Corporation was born within the B Corp movement because many entrepreneurs felt the need to have their commitment not only audited by a private body (B Lab), but also acknowledged and protected at a public level.
The Benefit Corporation legal form was therefore introduced in the United States in 2010 for the first time. Since then, 35 US states have decided to include it in their legislation and the concept is spreading in other countries worldwide. Italy was the first country outside the United States to introduce this legal form in January 2016.
B Corp and Benefit Corporation: your questions
Can a business be a B Corp without being a Benefit Corporation?
Yes, it can because Italy and the United States are the only countries where the legal form of Benefit Corporation is present.
Can a business be a Benefit Corporation without being a B Corp?
Yes, it is possible because in those countries where the legal form of Benefit Corporation is present, it is possible to change the company’s by-laws without having a B Corp certification.
Can a business be both a B Corp and a Benefit Corporation?
This is Davines’ case. In all the countries where the Benefit Corporation legal form is present, once the B Corp certification has been obtained, companies who seek recertification are required to become Benefit Corporations as well
B Corp, measuring our positive impact
B Corp, measuring our positive impact There are many differences between Benefit Corporation and B Corp. The main one is that to become a B Corp the company needs to complete a B Impact Assessment, a quantitative procedure that analyses every aspect of the business activity and measures with an exact score the impact on several areas of interest, such as the Environment or Governance.
Only businesses that score above 80 points out of 200 can be B Corp and they need to be recertified every three years.
Benefit Corporation, a profound and lasting vocation
Benefit Corporations are not required to undergo certification because the by-laws expresses the profound and lasting commitment of the company; it is its quality.
While being a B Corp is subject to a quantitative measurement that can change every year (a company could lose the B Corp certification if it no longer meets the recertification requirements), being a Benefit Corporation expresses a vocation lasting over time, thus not subject to changes.
A unique global path
Davines has decided to take this global path, therefore Davines SPA has changed its by-laws to Società Benefit, and Davines North America too has therefore become a Benefit Corporation. All other branches that do not have the same legal form are invited to amend their by-laws accordingly. The B Corp certification remains valid for the entire Davines Group, thus for all the branches as well as the other Comfort Zone and Skin Regimen brands.