ESG matters, and luxury brands need to walk the talk
The sustainable revolution has begun: the environment is the defining issue of our time, and younger consumers are seriously concerned about it. A new generation of consumers increasingly back their beliefs with their shopping habits, favoring brands that are aligned with their values and avoiding those that aren’t. Luxury goods companies are rushing to shine in ESG terms by ticking all the possible boxes from a reporting standards and an objective setting viewpoint.
While there is some true action behind it, and tangible results to come, we sense this is still mostly high level image building. We believe
environmental, social and governance issues (ESG) are here to stay, and the ability to extend the efforts further and blend newness, quality and CorporateSocial Responsibility (CSR) themes will shape the winners of the future.