Rituals boss Raymond Cloosterman has taken the Profit Pledge, donating 10% of the net profit of the beauty and wellness company in support of environmental causes.

“The motivation comes from the news rapports I see. I want to invest in things that will have a positive impact on people and the planet. It’s also something that employees and customers expect,” he told the Financieele Dagblad.

Rituals achieved a record turnover of €1.7 billion in 2023 with a net profit of €183 million.

“We do this because we can,” Cloosterman said. “We are successful and growing everywhere. At the same time the world is falling apart, it seems. Success comes with responsibility. We use raw materials too. For me this is the entrepreneurship of the 21st century.”

Cloosterman will be donating some €25 million this year, which may mount to up to €400 million over the next decade if things continue to go well for the company.

The contribution is tax deductible.