Mazars, an international organization specializing in auditing, consulting and accounting, tax and legal services, unveils its latest study “Towards a new luxury: ethics and value creation”.
With nearly thirty years of uninterrupted growth and globalization, the luxury industry is positioning itself in a world shaken by economic instability, ecological challenges, and ethical and moral injunctions, all of which are changing consumer motivations and habits. Faced with this new situation, brands are adopting a responsible attitude (respect for the environment, integrity, fairness and the economy of functionality are among the key words), and an avant-garde generation of designers and entrepreneurs is placing these ethical values at the heart of their creations.
Ethical activism is gaining ground in the luxury sector, and these issues are seen as an opportunity to reconnect with the timeless values of luxury: know-how, transmission, territorial roots, preservation of natural resources, but above all listening to and respecting the consumer.
Towards a new luxury, for a new world? How do respect for the environment and ethical issues fit in with value creation? This study provides a panorama of practices that bear witness to the dynamics underway in the industry.
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