New Demand and New Supply for Sustainable Luxury?

If your clients want their top-notch lifestyle to be a bit more sustainable, they're in luck: The Economic Times is reporting that green pioneers gathered at a Paris show this weekend to work towards a "cleaner, fairer" future for the industry.

Created in 2010, the four-day Paris event, dubbed "1.618 Sustainable Luxury," brought together some 40 firms, inventors and foundations that aim to reconcile luxury with ethics and environmental good practice. One of these was Bruno Pieters, a Belgian fashion designer who recently launched Honest by, billed as the world's first wholly transparent company.

Color-coded as organic, vegan, recycled or European, each garment on its website comes with reams of data on the origin of its materials, right down to the buttons, on its manufacture, cost breakdown and carbon footprint.

And not a moment too soon: A survey of 966 luxury consumers carried out by the pollster BVA in February revealed that 70 percent of respondees want the sector to lead the way on sustainability. Fifty-two percent thought the luxury industry was lagging in terms of sustainability, and 44 percent said that it was wasteful.

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