The Present and Future of the Luxury-Sustainability Paradox

Abstract

An understanding of luxury consumer behaviour, the implications on current luxury brand initiatives, and future directions, with a focus on the significance of coexisting sustainability practices and luxury values, are discussed in this chapter. Prior to recent changes in the business in response to trends in luxury, sustainable luxury was formerly seen to be an oxymoron. Now, sustainability is essential. Although in its current state, luxury and corporate social responsibility (CSR) may not be at the forefront of all consumers’ minds, there are growing influential stakeholder groups who will compel luxury brands to take social responsibility. It may appear that the success of CSR initiatives, in particular, the ability of brands to connect implicit identity values of luxury to the various principles of CSR, will determine the future of luxury firms.