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Could Luxury Become Responsible? | Transforming Luxury

Could Luxury Become Responsible? | Transforming Luxury

FromTransforming Luxury from The Business of Fashion


Could Luxury Become Responsible? | Transforming Luxury

FromTransforming Luxury from The Business of Fashion

ratings:
Length:
51 minutes
Released:
Oct 18, 2021
Format:
Podcast episode

Description

Over the Transforming Luxury podcast series, as we discussed market dynamics, product strategies, customer experiences, emerging technologies, new retail channels and our imminent entry into the metaverse, the pressing need and increasing demand for systemic change to create a more sustainable industry was a consistent theme. In this final episode of Transforming Luxury, a special six-episode series presented by Klarna, we confront the distinct uncertainty and disruption facing the luxury industry and us all, as a result of the climate crisis. In 2020, BoF reported that the fashion industry’s greenhouse gas emissions range from an estimated 4 percent to 10 percent of the global total. Without significant intervention, the industry will not align with global goals to limit global warming to no more than 1.5 degrees Celsius. Failure to do so is predicted to have catastrophic consequences for civilisation, outlined in the UN’s IPCC report 2021. However, if bold enough leadership is willing to reimagine how the industry operates, equipped with the deep pockets of market leaders and further enforcing the existing, rigorous quality controls already in place, luxury would be " uniquely positioned to transform itself,” as stated by SVP of supply chain innovation at the Savory Institute, Megan Meiklejohn. To hear more about the role sustainability must play throughout the luxury goods industry, BoF gathered four global authorities to discuss how luxury can become more responsible with host Robin Mellery-Pratt. Follow the series to ensure you never miss an episode and discover actionable insights into the opportunities and challenges a redefined industry will bring and how luxury’s transformation will impact your business. Sign up for BoF’s Daily Digest newsletter. For comments, questions, or speaker ideas, please e-mail: podcast@businessoffashion.com. For all sponsorship enquiries, it’s: advertising@businessoffashion.com.
Released:
Oct 18, 2021
Format:
Podcast episode

Titles in the series (7)

BoF speaks to 22 pioneering thinkers from the worlds of business, technology and luxury, creative leaders and renowned ecologists, to investigate the forces driving transformative change in the $300 billion luxury goods market over a special six-part series, presented in partnership with Klarna. The series explores the future of the luxury industry, from what really drives success today to the changing definition of luxury products and the evolution of luxury customer service and shopping channels, as well as the next generation of technological innovations and the pressing need for systemic change to create a more sustainable industry. Subscribe now to never miss an episode.