Keynote: The Sustainability Paradox of Luxury - Daniel Langer at Luxury Fashion Management Conference in Milan, Italy
Sustainable Luxury is one of the top topics on the agenda of almost all premium and luxury brands. Changing consumer behavior and expectation is driving the need for more eco-centric business models for the luxury and fashion industry. Old strategies do not work anymore. Companies need to innovate and reinvent beyond the comfort zone.
However making luxury more sustainable is a challenge. There is what we call a paradox between luxury and sustainability, that Daniel Langer described in a book chapter he co-authored for the book "The Sustainable Management of Luxury" (Springer, 2017). In a keynote at the Politecnico di Milano at "Fifth Luxury Fashion Management Conference" on November 27-28, 2017 Daniel will do a deep dive into the topic and explain how luxury brands need to take a different view in order to make sustainability a competitive advantage. Daniel will also join Tesla and The London College of Fashion in a panel discussion about controversial materials.
How to solve the paradox? It all starts with clarity about brand strategy. In our experience most brands first have to audit and sharpen their brand positioning and then create - based on a strong foundation - a sustainability playbook. This strategy can't be an afterthought but needs to be deeply integrated into the brand DNA. Consumers don't accept "greenwashing" anymore, however a sustainability strategy must not weaken the luxury perception. It's a fine line that requires expertise and a consequent implementation strategy.
About the author
Dr. Daniel Langer is CEO of Équité, a global branding and brand strategy firm that elevates brands and aims to increase their value, growth and profitability. He is an authority on brands, brand equity, brand positioning, pricing and luxury management. He holds a PhD in luxury marketing, is author of several top-rated books, book chapters and articles on luxury. He held top management positions in USA, Japan and Europe and was responsible for developing, launching and strengthening iconic global beauty care brands.