think ahead

Eco-Chic: Sustainability in the luxury sector

As we become more conscious of sustainable spending, the balance between luxury and sustainability can define our choices. Luxury items are, by their very nature, additional to, rather than integral to, what we need to live our lives well. The current appetite for fast fashion has shone a light on the many advantages of luxury. Luxury goods are designed and hand-crafted by artisans and are durable, made of robust, high-quality materials – a clear contrast with low-cost, throwaway items.

Is this enough to give luxury the sustainability credentials that could reinforce and widen its appeal to increasingly sustainability-focused consumers? What can we learn from brand leaders in this space? How do consumers ensure that they are being ethical in their behaviour?

The discussion covered:

• How brands can lead by example and successfully integrate sustainable business models and practices

• How to be an ethical consumer

• Sustainability as a core identity at the heart of a brand

• How can business increase consumers’ willingness to pay for sustainable goods?

• Can business models be adapted to be less reliant on volume growth?