Luxury and sustainability

Abstract

This chapter highlights that, historically, the luxury industry was not focused on sustainability or corporate social responsibility. The chapter asserts that for luxury brands, the focus on quality over cost has typically been maintained along the entire value chain. The luxury industry’s response to this was that the preservation of physical and biological resources had always been at the heart of all true luxury brands. They also argue that due to limited production, strict control of demand and supply, limited use of machinery and preservation of craftsmanship, as well as the development of products expected to last a lifetime, unlike mass market brands, luxury brands supported rather than undermined sustainability. This chapter provides some valuable insights into how consumer preferences have been steadily moving towards a sustainable luxury industry.