Sumary of BCG and the French Federation of Fine Arts released the latest report: by 2025, China is expected to…:
- Joël Hazan, partner at Boston Consulting Group (BCG) and co-author of the report, said: “The luxury industry is shifting from a competitive to a coalition mentality: leading luxury goods companies have understood that they need to collaborate on key environmental issues to deliver Solutions at scale.
- The last decade has seen countless examples of sustainable innovation in the luxury industry: In 2001, British designer brand Stella McCartney launched vegan clothing and accessories across all collections (e.g., biodegradable jeans, yeast silk) Italian Vogue 2019 Group Prada (Prada) has launched a sustainable series Re-Nylon, made from discarded fishing nets and plastic waste in the ocean, which can be purified and recycled without compromising the quality of this environmentally friendly material.
- According to the report, although the luxury industry has improved its performance in the digital field in recent years, 65% of the respondents believe that the luxury industry lags behind other industries in the digital field.
- In 2021, the French luxury jewelry brand Cartier (Cartier), a French luxury jewelry brand under the Swiss Richemont Group, will launch a new watch, TankMust Solar Beat.
- In 2021, the French luxury goods giant Kering will set up a Material Innovation Lab to develop innovative raw materials and integrate biotechnology.
- This week, a new report “Luxury Outlook 2022” by the Boston Consulting Group (BCG) in collaboration with le Comité Colbert found that 65% of consumers consider a company’s commitment to sustainable commitment to development.
- Digital is becoming critical The importance of younger consumers means that digital is becoming critical, something the luxury industry once thought would not happen.