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Can luxury fashion markets operate with a greener micro environement. In a
world where people are more and more concerned about climate ...
... In Chong Won Fashion, the strikers are raising the ... the insights that the opposable
mind can produce," he ... Luxury hotelier Isadore Sharp, founder of Four Seasons ...
Submitted by sfelkuch on May 10, 2008
Category: Business
Words: 250 | Pages: 1
Views: 38
Popularity Rank: 110,617
Average Member Grade: N/A (Add a Comment / Grade this Paper)
In a world where people are more and more concerned about climate change and environment, luxury brands have to radically rethink their policies. They have to develop sustainable business practices in all parts of the organisation and its supply chain. Because as LVMH boss Bernard Arnault said: « ... young Western consumers were placing more emphasis on ethical luxury – goods which badge their owners as people who are environmentally or social aware. »1
In my opinion luxury and sustainable development are in priority contradictory terms but also complementary. If sustainable development is speaking about well-being, work-life balance, community security and environmental protection. Luxury is more on a research of financial advantage, but their strategy engenders a tendency towards quality rather than quantity. The project of ethical fashion is a complicated ambition because you have to foster sustainable business practices in all parts of the organisation and its supply chain. The approach should in no way be superficial because luxury brands should be suggestive to trust and empathy and are so more sensitive to reputation damage. Values and lifestyle of costumers have changed, they are in search of 'true luxury' with deeper values and it will not be enough anymore to put logos all over to ensure sales. It will be about guarantees in the newest design of products and its sustainability at the most important levels of its lifecycle, to make costumers feel good buying luxury fashion. The performance and progress on environmental, social and governance issues should be comprehensively measured and reported. 14
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