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How Luxury Fashion Brands Contribute Efficiently to Sustainable Development
Abstract
This chapter explores how luxury fashion and accessories firms are adapting their CSR strategies to be more sustainable considering that the firms have been impacted by the COVID-19 pandemic. In this context, the authors explore how companies are communicating their efforts and how they engage consumers according to sustainable development. The methodology followed in this study is based on case studies analyzing the activities of luxury fashion and accessories brands operating in different countries, such as LVMH, Kering, Richemont, Chanel, EssilorLuxottica, Chow Tai Fook, PVH, and Swatch Group. The results show that almost all luxury fashion and accessories firms include the SDGs in their CSR/sustainability strategies and communicate how their efforts contribute to achieving the 17 SDGs. Nearly all these companies set long-term objectives including areas, such as 1) environmental protection as a key axis of their strategy, 2) support for the communities where they operate, and 3) promotion of equality and inclusion of their employees.
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