Sustainable, ethical luxury – the future of the luxury business?

Posted by Ari on March 25, 2009 | 2 Comments

A dictionary defines luxury as ’something that is an indulgence rather than a necessity’. Proponents of ethical fashion will dispute that ethical production is an ‘indulgence’, citing the need to safeguard the environmental future of the planet.

In the eyes of the general public who look to the high street for good value deals, ethically produced good are to some extent seen as an indulgence. However, in the luxury market a marked shift is underway as pointed out in this article in the International Herald Tribune.

An ethically produced product has a big competitive advantage in the luxury arena: its pedigree itself is a source of pride. Presenting how a good is made has long been a part of luxury marketing. Focusing on how paying more for ethically produced goods is a sign of affluence is likely to win over traditional luxury customers.

Luxury buyers were turned off by blood diamonds in the wake of campaigns during the 1990s and the Kimberley Process. The question is whether other ethical issues are beginning to occupy the public consciousness in the same way.

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Comments

2 Responses to “Sustainable, ethical luxury – the future of the luxury business?”

  1. Meghan
    March 26th, 2009 @ 2:35 pm

    You are right! More and more, consumers are seeking luxury items that are sustainable. C5 sustainable fine jewelry was started on the premise that consumers shouldn’t have to sacrifice their values for beauty.

    Unfortunately, conflict-free diamonds and those that are Kimberley Process certified are not considered sustainable. Concerned consumers need to look at ethically sourced and fair-trade gems as well as recycled or “green” metal. Also, where the products are produced is an important factor to consider as well.

    Learn more at http://www.C5company.com.

    Wear Your Commitment.

  2. KonstantinMiller
    July 6th, 2009 @ 4:46 pm

    Hi. I like the way you write. Will you post some more articles?

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