Despite the good intentions of both companies and consumers, the luxury industry is struggling to adopt truly sustainable practices, except via the circular economy, as illustrated by the Pambianco Summit debate.
In order to win over younger consumers, the luxury industry should focus on emotion and transparency, while giving new importance to products and stores, according to a new study from consultancy firm Bain & Company.
Sustainable sourcing has become a strategic priority for the fashion industry, though the path towards it is long and fraught with obstacles, according to a survey by management consultancy firm McKinsey.
Last week’s Brexit deal and the pulling of Saturday’s Parliamentary vote have left the UK retail sector back where it has been for the last three+ years, facing an uncertain future as consumers shun unnecessary spending.
The luxury label owned by LVMH has doubled its leather goods production capacity in Tuscany with a new site in Radda in Chianti. The site, in which Celine invested over €20 million, is set to double its staff by 2021.