Transparency in Luxury

Transparency in Luxury

Studies and figures show transparency will be luxury brands’ most challenging issue in the coming years. The Fashion Transparency Index released by the uk-based association Fashion Revolution was widely discussed online and revealed luxury brands were among the last-ranked brands regarding transparency. Even fast-fashion companies such as H&M are amo,among the top 10 brands in that field. It questions the luxury status of the brand itself as the traceability of products is considered essential to luxury products. Otherwise, it would means the brand is not actually doing luxury but only marketing it. Beyond the definitional issue, it will have a very concrete impact on businesses, as figures revealed it’s a determinant criteria in millenials’ purchase. People want to know where the raw materials are from but also how is the brand treating people that worked on it etc. Therefore, transparency covers a lot of aspects including the whole supply and production chain. Brands should make sure these informations are easily reachable and readable as possible through search engines as today’s customers are more likely to trust what they find by themselves on the internet than what is pushed by the brand. Studies show millenials give so much importance to transparency they would be ready to switch to a competitor if he has a better offer in that matter. And today’s market is so saturated that millenials customers are more likely to stay in the longhaul once they’ve found a brand that is compatible with their value system. 

2018-11-14T23:13:07+00:00