Sustainable strategies in the luxury business to increase efficiency in reducing carbon footprint

Vázquez, Belén López; Rangel, Celia; Fernández, Manuel

doi:10.1016/j.jbusres.2022.113607

Cited by 14 publications

(8 citation statements)

References 29 publications

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“…Among the main challenges that luxury brands are addressing today are those related to climate change. For that, the luxury industry is trying to consume less throughout the value chain to generate efficiencies in the company, among other measures, reducing the environmental impact of its operations, whether in CO 2 emissions (Aleem et al, 2022;Kunz et al, 2020;López et al, 2023), water consumption, or polluting waste (Brenot et al, 2019). Moreover, luxury brands need sustainability to maintain their superiority over other Fast Moving Consumer Goods (FMCG) brands (Kapferer, 2010;Osburg et al, 2022) and to connect with their stakeholders in a relevant way for the whole society (Pai et al, 2022).…”

Section: Discussionmentioning

confidence: 99%

“…This explains why many of the measures being developed by the luxury industry focus on the reduction of resources along the supply chain, such as energy or water reduction and optimization (Brenot et al, 2019), as well as the reduction of polluting emissions such as CO 2 or waste materials (Arrigo, 2018). In addition, to taking care of the environment to consume less and last longer, the investment made by the luxury industry also implies a reduction in costs derived from taxes or legal regulations, which in turn leads to efficiencies that can improve the competitiveness of these companies in the market (López et al, 2023;Pavione et al, 2016). It also helps to maintain its superiority over other brands in lower segments, thus ensuring the economic sustainability of the company and dedicating profits to social and environmental improvements (Arrigo, 2018;Brenot et al, 2019;Kapferer, 2010).…”

Section: Introductionmentioning

confidence: 99%

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A strategic sustainability model for global luxury companies in the management of CO2 emissions

Rangel-Pérez,

López,

Fernández

2024

Int Entrep Manag J

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Luxury brands are at the forefront of sustainability efforts and carbon emission reductions to fight climate change. The goal of this paper is to analyze such climate change challenges in terms of cost efforts within large luxury conglomerates. In doing so, financial metrics have been gathered for the top 100 companies in the luxury sector and compared against CO2 emissions metrics with regressive methods. This enables the study of relationships between sustainability and finance to explore if sustainability is expensive and if sustainability is explained by costs, sales, taxes, or investment. Such works allow the setting of conclusions on financial and managerial decisions and, moreover, set a new framework of analysis based on financial variables and the positive or negative impact on CO2 emissions, such as which financial variables generate more CO2 emissions (luxury sales, capital investment and financial cost) and which help to reduce such emissions (cost of goods sold, general expenses and taxes).

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Section: Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

A strategic sustainability model for global luxury companies in the management of CO2 emissions

Rangel-Pérez,

López,

Fernández

2024

Int Entrep Manag J

Self Cite

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“…Reference Adaptive choice-Based conjoint analysis (n = 1) Fuchs and Hovemann, 2022 Case study (n = 10) Camacho-Otero et al, 2019;Brydges, 2021;Pal et al, 2021;Cooper and Claxton, 2022;Dragomir and Dumitru, 2022;Gossen and Kropfeld, 2022;Salmi and Kaipia, 2022;Valor et al, 2022;Garcia-Ortega et al, 2023;López et al, Turunen and Halme, 2021;Shou et al, 2022;Aydin et al, 2023;Kautish et al, 2023;Shamsuzzaman et al, 2023 Index Decomposition Analysis through the Logarithmic mean divisia index, and decoupling analysis (n = 1) Román-Collado et al, 2023 Interactive action research (n = 1) Sandberg, 2023 Interview (n = 13) Padilha and Gomes, 2016;Singh et al, 2019;Fontana et al, 2021;Gossen and Heinrich, 2021;Sandberg and Hultberg, 2021;Siderius et al, 2021;Bocken and Konietzko, 2022;Laukkanen and Tura, 2022;Nayak et al, 2022;Amasawa et al, 2023;Dukovska-Poposka et al, 2023;Persson and Hinton, 2023;Shamsuzzaman et al, 2023 Life cycle assessment (n = 7) In terms of the limitations found during this study, they can be summarized in:…”

Section: Type Of Methods (N = Total)mentioning

confidence: 99%

“…-Limited knowledge and few technological tools from and for the stakeholders to enhance sustainability and/or collaborative actions (Repp et al, 2021;Pal et al, 2021;Siderius et al, 2021;Cooper and Claxton, 2022;Bhandari et al, 2022;Dragomir and Dumitru, 2022;Fuchs and Hovemann, 2022;Gossen and Kropfeld, 2022;Laukkanen and Tura, 2022;Louma et al, 2022;Nayak et al, 2022;Shou et al, 2022;Valor et al, 2022;Kautish et al, 2023;López et al, 2023;Millward-Hopkins et al, 2023;Román-Collado et al, 2023) -Limited scope of the developed methodology (Padilha and Gomes, 2016;Dhir et al, 2021;Repp et al, 2021;Martin and Herlaar, 2021;Turunen and Halme, 2021;Angelis-Dimakis et al, 2022;Bhandari et al, 2022;Bocken and Konietzko, 2022;Dragomir and Dumitru, 2022;Fuchs and Hovemann, 2022;Laukkanen and Tura, 2022;Mölsä et al, 2022;Schmutz and Som, 2022;Shou et al, 2022;Valor et al, 2022;Aydin et al, 2023;Kautish et al, 2023;López et al, 2023;Millward-Hopkins et al, 2023;Sandberg, 2023;Scott et al, 2023;Shamsuzzaman et al, 2023) There was also observed that no discussion was present...…”

Section: Type Of Methods (N = Total)mentioning

confidence: 99%

Investigating the limitations of fashion research methods in applying a sustainable design practice: a systematic review

Pedroso-Roussado

2023

Preprint

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Research is a human activity that needs both scientific rigour and creativity. The need of research is often a complex issue is of difficult comprehension, validation, but it helps scientists test hypothesis within previously defined research questions. The standardization of methodologies, deeply rooted in the scientific method, has allowed humanity to progress. However, we are facing unprecedent challenges at a global scale that are pushing the boundaries of human capabilities. Since the fashion industry represents one of the most problematic industries globally, it is paramount to research its problems through rigorous and validated methodologies that will potentially allow the full comprehension of the issues while paving the way for the development of a wide range of practical and disseminated solutions. The goal of this systematic review is to outline the most used methodologies in the fashion research field that are being explored to achieve sustainability. The findings highlight the fragmentation of the literature in fashion research methodologies pointing out the main limitations of currently used methods. Interviews and case studies are the most used methodologies while other less conventional – like Social Life Cycle Assessment – have been also tried. This work reveals the handicaps of the fashion research methodologies and show an example on how ChatGPT can be assessed to help the fashion practitioners define research plans to achieve sustainable goals.

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“…, 2021). Numerous luxury retailers have already committed to corporate social responsibility (CSR) for environmental, societal and economic well-being (López et al. , 2023).…”

Section: Introductionmentioning

confidence: 99%

From personal to corporate social responsibility: (de)individuation in luxury retailing

Li,

Kang

2024

IJRDM

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PurposeThe New York Times has suggested replacing sustainable fashion with responsible fashion, emphasizing the need for joint efforts by both individual consumers and retailers to take responsibility for their own decisions and actions. This study seeks to investigate the mechanism that activates individuals' personal social responsibility (PSR) and its association with their perceived corporate social responsibility (CSR) from a responsible luxury fashion retailer.Design/methodology/approachAn online experiment was conducted with a nationwide US sample of luxury consumers who were randomly assigned to either individuation or deindividuation groups. Covariance-based structural equation modeling (CB-SEM) and multi-group SEM were employed to test the hypotheses.FindingsIndividuals' universalism positively affected PSR, which then enhanced their recognition of a responsible luxury retailer’s CSR and led to a greater willingness to pay a premium. More importantly, the positive effect of universalism on PSR was strengthened when consumers’ unique individuality, rather than their deindividuated state, was emphasized. Moreover, the moderating effect of individuation was indirectly transmitted through PSR to perceived CSR, hence reinforcing the relationship between PSR and CSR.Originality/valueThis study significantly advances existing scholarship on sustainable luxury retailing and adds rigor to deindividuation theory by demonstrating the central role of PSR and the moderating effect of individuation in enhancing recognition of a luxury fashion retailer’s CSR commitments. The findings provide luxury fashion retailers with communication and marketing strategies that highlight consumers' unique individuality to more effectively activate their sense of personal responsibility and thereby increase their recognition of the retailer’s CSR.

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Sustainable strategies in the luxury business to increase efficiency in reducing carbon footprint

Cited by 14 publications

References 29 publications

A strategic sustainability model for global luxury companies in the management of CO2 emissions

A strategic sustainability model for global luxury companies in the management of CO2 emissions

Investigating the limitations of fashion research methods in applying a sustainable design practice: a systematic review

From personal to corporate social responsibility: (de)individuation in luxury retailing

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