Mardi, 7 of septembre of 2010
Can you afford not to be concerned !
Learn from GUCCI, JAEGER-LECOULTRE, ROSY BLUE DIAMONDS, WWF, UNCTAD, HEC Lausanne University and many more luxury brands, NGO and Corporate Responsibility experts.
Join the leaders of the Sustainable Luxury community for a one day highly interactive workshop on September 28, 2010 in Lausanne/Switzerland, to learn, share, network and experiment among CR peers, NGO, Academia and experts.
Unique workshop.
Early Bird price until August 25, 2010.
Be part of key discussion on Sustainable Luxury 2.0 by booking your place and join the leaders of the growing sustainable luxury community. The audience size will be limited.
Discover, how the diamond industry (at least one of their actor) is heading towards more Corporate Responsibility. Get the presentation that Mrs Iris van der Veken, Manager Corporate Affairs Global of Rosy Blue - one of the most renowned diamond and jewelry companies - www.rosyblue.com - gave during the 2009 Antwerp Diamond Symposium. Get the 2008 Rosy Blue CSR Report.
In preview, an excerpt from the UNCTAD seminar debriefing on « Redefining Sustainability in the International Agenda » which took place Jan 20-21, 2010 in Geneva.
« The fashion and luxury industries have the strategic potential to shape consumer values and aspirations and to redefine the concept of excellence in a way that goes beyond traditional economic aspects to integrate social and environmental elements.
Luxury production and sustainable biodiversity are not complete opposites; many luxury items were originally crafted by skilled artisans in indigenous communities. They were not made to be disposable, but to last over generations.
CITES has species listed that have gained in economic importance. There is still a struggle to get species on list and in appendices, such as the bluefin tuna, which because of overfishing, will soon become a luxury product. Most industries should be checking the CITES lists for compliance. However, trade in wildlife products that are legally acquired can represent enormous income for local communities; for example, ranching and farming of reptiles have helped to increase species population, like salt water crocodiles in Australia. Such conventions and their quotas are not a burden to business, but allow for species continuation for sustainable business. The trade in species, and not just endangered species, is huge. CITES could work in a way that it becomes a certification system for sustainable trade.
Giving up trade in an unsustainably produced product does not equate to giving up business opportunity; in fact the opposite is true, as consumers become more aware and brand loyalty can diminish if products are seen as unethical. Often, reactive behaviour leads to proactive behaviour on the part of the industry to meet consumer expectations of quality. Luxury product consumption is minute compared to mainstream products, yet it is an aspirational form of consumption that influences the mainstream.
Because luxury operates on a scale much smaller than mass retail, and with higher margins, it is able to handle issues more quickly and effectively, and to drive innovative technologies in sustainable luxury. The luxury industry should achieve excellence in its own operations and supply chains, and thus create new trends, values, and ethics.
Every level of partnership is still necessary to take the agenda forward, including measures such as signing up to sustainability principles of NGOs such as Greenpeace and Rainforest Action Network. One hundred percent traceability and transparency are still among the greatest goals to be achieved. It is clear that the younger generation is driving this transformation….
If you want to get the full report, drop us an email at contact(at)wholebeaut(dot)ch.
Sustainable development, CSR or sustainability (whatever the terms and definition) represents certainly one of the 21st century’s greatest opportunity; even more for luxury brands. So, it is no surprise to notice that most luxury companies, despite their slowness, head towards a strategic integration of corporate social responsibility (CSR). To evolve in that direction, they will have to systematically consider environmental and social impacts more seriously, in addition to ensuring their financial sustainability. It will induce a deep mind shift and change in the way they think, behave and manage luxury brands; and especially among today’s “oldish” and conservative board room.
Present situation. Nowadays, CSR consideration is growing and is regarded as a crucial dimension to judge companies’ quality. Luxury brands have to improve in two dimensions – People, Planet – hence in making a Profit, as new ethical luxury clients are growing in share of voice and power. Even if CSR is more widely adopted around the world, a gap is growing between people expectations and the real implications for companies, giving birth to new business opportunities. In the luxury industry, traditional well-known brands or groups have already implemented CSR initiatives, mainly driven by cost savings and reputation management. Some new luxury brands, launched in the last few years, have built their strategy around CSR.
Rising trend.Numerous researches show that sustainable development is a rising trend within the luxury industry. An even increasing number of brands communicate their implications and most managers are persuaded that companies will increase their sustainable investments. Although CSR in the luxury industry is an emerging trend, stakeholders and market pressure, economic cycle and globalization will push companies to act and evolve toward CSR 2.0.
Perceived obstacles The vast majority of luxury brands have not been very active, mainly because of:
Despite these obstacles, luxury companies have an opportunity to evolve to stay competitive and leverage the benefits of sustainability.
Real benefits – not a cost. By integrating a CSR program, luxury companies are expected to reduce their impact on the environment and increase their social considerations without jeopardizing their economic performance. Companies will benefit from an improved brand reputation, a deeper relationship with and understanding of all stakeholders, higher productivity, and innovation which leads to increased profits and shareholder value.
How responsible are you ?
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