ALTIANT Global Luxury AND ASSET MANAGEMENT (GLAM) MONITOR

LUXURY & SUSTAINABILITY

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Luxury & Sustainability: The Importance of Sustainability


Sustainability has become a significant talking point within the luxury industry in recent years. Many consumers are increasingly gravitating towards brands which have sustainability and ethics at the core of their propositions. Brands which are not on board with this trend risk falling out of favour and left behind. The recent widespread criticism for luxury brands destroying overstocks, using unethical production methods or using material seen as cruelty towards animals underlines how the impact of sustainability should not be  underestimated.

On a scale of 1-5, almost two thirds (65%) rate sustainability at an importance of 4 or 5 while only 10% say that it unimportant/neutral to them (1-3 on the scale). Sustainability and ethics are important to both genders and age   groups, indicating that this is not an issue which is largely contained to one segment of the population. However, importance does show a degree of regional variance, with 70% of Asian respondents scoring sustainability/ethics as  4-5 on the scale, compared to only 58% of North Americans.

Unfiltered Base:  982 global affluent/HNWIs | Source:  LuxuryOpinions/Altiant

Luxury & Sustainability: Trading up for Sustainability


Stella McCartney emerges as the most likely brand which our affiuent/HNW respondents cite as a sustainable luxury operator. The company has positioned sustainability as a core pillar of its proposition, and this has resonated    with all of the regions in our study. Other brands which were among the most cited include Gucci, Tesla, Rolex and Louis Vuitton. However, that 31% of our sample were unable to name a good example of a sustainable operator suggests that the luxury industry has further work to do in this  arena. 

Unfiltered Base:  982 global affluent/HNWIs | Source:  LuxuryOpinions/Altiant

Luxury & Sustainability: Sustainable Luxury Champions


Stella McCartney emerges as the most likely brand which our affiuent/HNW respondents cite as a sustainable luxury operator. The company has positioned sustainability as a core pillar of its proposition, and this has resonated    with all of the regions in our study. Other brands which were among the most cited include Gucci, Tesla, Rolex and Louis Vuitton. However, that 31% of our sample were unable to name a good example of a sustainable operator suggests that the luxury industry has further work to do in this  arena.

 Unfiltered Base:  982 global affluent/HNWIs | Source:  LuxuryOpinions/Altiant
 
 
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