Friday, July 20, 2018
Together with BSR and The Hong Kong and Shanghai Hotels Limited, Kering launched an important new report titled “Disrupting Luxury: Creating Resilient Businesses in Times of Rapid Change” at an event in Hong Kong today. As a first for the sector, the report is the outcome of fifteen leading luxury companies collaborating under BSR’s Responsible Luxury Initiative (ReLI) to develop a sustainable pathway for the future of luxury. It outlines three disruptive global trends – climate change and biodiversity loss, new technologies and automation, and rising economic inequality - that will have specific consequences for luxury brands. It then provides a common perspective on how luxury businesses can create responsible and resilient brands in a time of rapid change, while leveraging the sector’s unique strengths. A recommended roadmap of actions is presented in the report for luxury players to follow so that these strengths and opportunities can be leveraged to fuel growth, drive innovation, and strengthen brand equity into the future.
On the occasion of the global launch organized in Hong Kong, Kering’s Chief Sustainability Officer and Head of international institutional affairs, Marie-Claire Daveu, said:
“Luxury has the added responsibility as trendsetters to create value for the good of the environment and society, which can then influence the entire fashion industry to act. In prioritizing sustainability and embedding proactive strategies into our business models now, the luxury sector will become more adaptive to future challenges and ultimately this will provide us with critical business advantages."