Prada has moved to burnish its sustainability credentials in recent years. In November 2021, Prada said it would use more low-impact materials in its products and packaging, and lower greenhouse gas emissions as part of a carbon-neutrality push.
While sustainability scores are “fundamental” for evaluating corporate greenness, they can fail to capture the nuances of individual business models, Bertelli said in an interview Tuesday while attending a conference in Lisbon on sustainability and ocean preservation co-hosted by Prada and UNESCO.
Capelli says LVMH is experimenting with new material innovations and dye technologies, and plans to soon showcase some “first experimentation” with Colorifix, a startup that uses synthetic biology to replace industrial chemical dyes with nature-friendly alternatives. Much of the other work that LVMH is doing is internal, he explains. The company plans to share sustainability details with consumers at the product level eventually; that will be a slow rollout, with a goal to share some level of information for all products by 2026 and for all products to be “regeneratively designed” by 2030.
Nona Source, which launches this Monday, is the brainchild of Romain Brabo, formerly a materials buyer at LVMH-owned Givenchy. “In my role, I would go to warehouses, and I saw the multiplication of deadstocks,” he says. “I thought: on one hand, there are young designers seeking beautiful fabrics to make their collections; on the other hand, couture houses are storing materials they have no use for. How to create a link between them?” Nona is one of the Parcae in Roman mythology, Brabo explains. She spins the thread of life, and Source is a reference to “sourcing”. Read more (Vogue Business)
Chanel has launched the Chanel Culture Fund, a global programme of initiatives and partnerships that aims to support innovators across the arts in advancing new ideas and greater representation in culture and society.
The fund seeks to champion equality of voice and give visibility to global game-changers at a time when the arts provide a vital source of inspiration and perspectives on the way we view the world. It builds on Chanel’s 100-year heritage of arts patronage, in the spirit of Gabrielle Chanel’s role as a patron and convener of the arts, reaffirming the house’s commitment to the freedom of creation and human potential. Read more (Tatler)
Unsurprisingly, LVMH is a master of storytelling and brand experience creation. Bernard Arnault famously described luxury as the ability to create desire. The greater the lust, the higher the value creation. In turn, more customers flock to the brands with the highest value creation and are willing to pay prices that correspond to that value. Read more (Jing Daily)
Unlike traditional investments in financial assets, luxury goods can be difficult to value if one does not have an appreciation for their form. A rare painting, for example, does not generate cash flows, meaning its value is truly in the eye of the beholder.
To gain some insight into the market for luxury goods, this infographic takes data from Knight Frank’s 2021 Wealth Report to compare the preferences of nine global regions. Read more (Visual Capitalist)
The rise of conspicuous non-consumption has been a long time coming. Over the last decade or so, we have witnessed a slow and sometimes painful pivot as fashion at first ignored, then loftily entertained, and finally fell head-over-heels for the concept of “sustainability.” Those who were once dismissed as sackcloth-wearing, soy-munching, Gaia-loving outliers—ideology driven pioneers such as before-her-time Katharine Hamnett, perfectly-timed Stella McCartney, and of-his-time Christopher Raeburn—have proven to be the Cassandras who saw first what most of fashion was too busy making new stuff to realize: As a marker of desirability, being environmentally virtuous has transitioned from niche consideration to central parameter of desire. Read more (Vogue)