Redefining Luxury: Exploring Sustainable Practices and Ethical Branding in the Green Age

Abstract

The luxury industry has traditionally been associated with opulence, exclusivity, and a disregard for environmental and social considerations. However, as sustainability becomes a critical global issue, luxury brands are facing the need to adapt and redefine their value propositions. There are a number of challenges that luxury brands face in embracing sustainability. These challenges include: • The high cost of sustainable materials and processes • The lack of consumer demand for sustainable luxury products • The difficulty in communicating the sustainability credentials of luxury brands