BCG and the French Federation of Fine Arts released the latest report: by 2025, China is expected to…

bcg and the french federation of fine arts released the latest report by 2025 china is expected to

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.

Want to know more click here go to news source.

From -