Deeper Luxury Report - WWF UK

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Challenge 6: Fast fashion Luxury is quickening because of technological innovations in communications and production. Catwalk designs can be emulated by mass retailers such as Top Shop, H&M and Zara within a couple of months. 76 These retailers have also begun to work directly with designers such as Stella McCartney and Kate Moss (who is better known for her modelling). While these mass retailers and brands can often emulate product attributes, they may be less able to match deeper elements of value such as high ethical standards in sourcing, efficient use of materials, lowimpact manufacture, assembly and distribution, and the provision of repair and upgrade services. All of these represent an opportunity for luxury brands to justify their share of the wallets of wealthier consumers. Challenge 7: Counterfeiting The technologies making fast fashion possible are also enabling an explosion in the amount of counterfeit luxury products. Modern fakes are often indistinguishable from genuine products, and thereby rob those genuine products of much of their value. 77 According to a study by law firm Davenport Lyons, fakes and replicas are becoming more socially acceptable among consumers. In the UK, they report, “two-thirds of consumers, up 20% on 2006, are happy to own fake clothing, footwear, watches and other items”. This suggests that demand is set to increase here, fuelled by internet shopping and cheaper long distance travel. 78 In response, the luxury industry lobbies governments for stricter rules and inspections on producers and traders, and takes direct legal action against those who participate in the counterfeit market, including against some market stall owners in China. 79 (In contrast, it is recognised that efforts to criminalise consumers can be counterproductive.) In the face of this threat to the value of luxury brands, brand owners will seek to provide prestige in new ways that do not rely so heavily on the use of logos. Conclusion The seven industry challenges (counterfeiting, fast fashion, maturing new markets, western existentialism, the casual consumer, democratised luxury, and splendour amid squalor) all point to the same future for luxury brands: to become part of a social movement, connecting with and helping people to express their deepest values. As the luxury market broadens, lengthens and quickens, luxury brands must deepen their offering if they are to continue to thrive amid changing global values and realities. They must deepen in terms of the meaning and experience given to the consumers of luxury brands, and in terms of the luxurious nature of the production and retail process involved. Thus, the social and environmental quality of the product or service becomes paramount, alongside its ability to champion new, more connected aspirations. Contrary to popular myth, this applies in Asia, as well as in more developed Western markets. The business case for more sustainable and responsible luxury is clear. In this chapter and the last, we have outlined seven reasons, six accelerators and seven industry situations for deeper, more sustainable luxury to be pursued by luxury brands as part of their core commercial strategy.
Chapter four Exploding the myths of shallow luxury Deeper Luxury 22/23 © Mike Innes
Page 1 and 2: Deeper Luxury riginalexperientialco
Page 3 and 4: Contents Executive summary 2 Introd
Page 5 and 6: This report provides a clear vision
Page 7 and 8: Introduction Where’s the bling? S
Page 9 and 10: the values of luxury brands will be
Page 11 and 12: WWF works towards a future in which
Page 13 and 14: From our experience with these init
Page 15 and 16: How markets are driving sustainable
Page 17 and 18: customers were 10% Asian and 90% We
Page 19 and 20: Chapter three Industry challenges
Page 21 and 22: Newsweek, the appearance of Armani
Page 23: China, Angelica Cheung, reports gro
Page 27 and 28: Chapter five Issues of public conce
Page 29 and 30: are not meeting the challenge. A su
Page 31 and 32: the international trade in species
Page 33 and 34: Signs of change Notwithstanding the
Page 35 and 36: is famous for handbags, luggage, br
Page 37 and 38: Self-reported performance is shown
Page 39 and 40: Chapter seven The future makers FRO
Page 41 and 42: OSISU Despite the presence of stron
Page 43 and 44: Tesla Tesla Motors Inc is a new kin
Page 45 and 46: Celebrities are key to the success
Page 47 and 48: 5. Innovate. Identify new and effic
Page 49 and 50: Endnotes 1 This excludes many routi
Page 51 and 52: 94 The Sunday Times 12 August 2007

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