Global economic recession for the luxury goods industry increased the challenge, according to Bain & Company’s survey data show that global sales of luxury goods is expected to drop 10% this year, Coach Handbags up to 218 billion U.S. dollars, which has become the first in 15 years the recession, many brands have stores with the slowdown in the rate of expansion, lower prices and reduction in advertising spending to reduce costs.
Nevertheless, the decline in the economic situation in the luxury industry, but accelerated the development of green. According to the Boston marketing agency Cone LLC’s survey found that young people aged 18 to 24 people that own half of the enterprises in the economic downturn on the manufacture and sale of environmentally friendly products to the expectations very high.
China’s luxury market is almost a rare bright spot. Bain in the “global luxury market report,” said the China market is expected to grow to 12%.
In the past year, many of the world-renowned luxury brands have been offering environmentally friendly products, or buy those that reflect the brand of corporate social responsibility and environmental topics to actively marketing the business. This year’s May, the French LVMH acquired by the rock star Bono’s Edun green clothing company founded shares. Other companies are actively promoting the conservation of resources propaganda, this summer, Tiffany windows in retail stores worldwide images of coral reefs will be placed in a prominent position, in order to promote Tiffany’s 2002 promise not coral as Design material commitments.
“We are willing to change the environmental and social responsibility, business ideas.” French retail giant PPR SA Knott, chief executive Frank Spike says that he had sponsored a shot a documentary on human abuse of resources. The documentary was in June of this year played in 131 countries, in the beginning of the movie played Gucci, Yves Saint Laurent, Po Ti Ka brand name companies such as these co-branding the name of the film formed “home.”
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Luxury brand of environmentally friendly products to be welcomed
Luxury goods industry to adopt green initiatives also reflect some of the most fascinating of the world’s luxury brands are facing challenges. These brands can have excellent design, advanced technology and commitment to good service to win customers, but the luxury goods industry is now the core of an aging customer base for the competition, with a decade of expansion, these customers for luxury brands The demand is much lower than before. The younger consumers than the traditional luxury consumers focus on their impact on the environment, many luxury goods businesses have to re-brand for the market situation.
The Luxury Institute, a New York research institutions, they found a recent survey, young and affluent consumers than older and less affluent luxury consumers pay more attention to corporate social responsibility, the agency’s chief CEO Milton Pedraza, said: “Young consumers believe that attention to environmental protection can help themselves to create a more meaningful life.”
Some luxury goods companies in this green trend in the industry pioneer such as Louis Vuitton back in 2004 produced a “carbon emission inventories”, in order to understand its impact greenhouse gas emissions. Since then, it cut the company’s business travel and air cargo. In 2007, PPR set up a department of social and environmental responsibility, in order to reduce carbon emissions from a development to promote the diversification of environmental goals.
June of this year, began selling high-end department store retailers Niuyuebani priced at 75 dollars a sports shoes, sports shoes, the fashion brand Loomstate by the green design, from the upper to the lining are made of organic materials. This fall, men’s luxury brand Ermenegildo Zegna will launch a “solar economic and technical cooperation” jacket sleeve in its solar panels are installed, can be used to charge the battery and the heating jacket collar.
Supervision of environmental protection non-profit organization
Despite the new trends in luxury goods industry will play a significant environmental effect remains to be seen, but more and more consumers and non-profit organizations in monitoring the environment and corporate social responsibility efforts.
The end of 2007, the World Wildlife Fund under the luxury corporate environmental and social records of investigations ordered a green field in the 10 most outstanding brands, the highest honor grade C, awarded the L’Oreal, Hermes, and Louis Vuitton.
World Wildlife Fund’s senior adviser Anthony said: “These enterprises at the beginning of this research is very inconsistent position, but now they not only actively promoting the development of environmental and social responsibility, but also the development of brand value as the driving force . “
PPR is responsible for corporate social responsibility, said Laurent, senior vice president of the company’s launch of the World Wildlife Fund report before the establishment of an independent department of social responsibility. At the same time, Louis Vuitton leather goods brand also launched the “core values” image ads, tennis star Andre Agassi and rocker Keith Richards, and astronaut Buzz Aldrin launched as a spokesmen for the call, the ad emphasized the climate protection projects in the contribution.
Marketing agency Cone LLC Mike Lawrence, executive vice president, said: “Business and non-profit coalition of organizations to promote the success of companies must open their business in the green on the amount donated, or to protect the environment for the product improvement, increased transparency .Louis Vuitton Handbags But unfortunately, now touted and exaggerated in the advertisement or legitimate. ”
