Green is the new black for luxury brands according to the Wall Street Journal. Their article, Luxury-Goods Makers Brandish Green Credentials, reveals how the luxury industry is eagerly embracing greener, more environmentally-friendly options to please their younger, more eco-friendly clients.
A recent survey by The Luxury Institute found that younger and more-affluent consumers seek information about corporate social responsibility more actively than their older and less well-off counterparts. "Young consumers believe that caring about the environment is how you create a meaningful life," stated Milton Pedraza, the firm's CEO.
And luxury brands are taking these sentiments in their stride, putting the environment at the forefront by introducing eco-friendly products or investing in socially responsible brands. For instance, in May, the LVMH Group bought a stake in Edun, an organic-clothing company founded by rocker Bono and his wife, Ali Hewson.
Meanwhile, PPR donated millions to an environmental documentary. Their CEO, François-Henri Pinault, enthused, "We want to change the way we conceive our business, socially and environmentally speaking.”
We’ll keep you posted on more eco-friendly shifts, but in the meantime, check out Ermenegildo Zegna’s revolutionary "Ecotech Solar" jacket with solar panels on its sleeves…
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