Positive Luxury report
‘Change is the only constant in life.’ - Heraclitus, Greek philosopher.
The last two years have been tough... for everyone! Hard to believe where we are today compared to 2019. Everything has changed and with VYN I finally feel we can accelerate a change for the better. This is going to be a great year with a lot more unforeseen twists and turns.
We are nominated for the ‘Product Innovation of the Year’ by Positive Luxury and we are very honoured to have made the shortlist of 4 brands out of over 100 applications. It feels great to be recognised by such a purpose driven organisation that is pushing the boundaries and setting clear standards for the luxury industry. We would love to win this one, for sure.
Reading the ‘Positive Luxury Report 2022’ I would like to share my three key take aways:
“We had to walk the talk of our ‘Buy less, choose well, make it last’ mantra,” says global brand director, Christopher Di Pietro from Vivienne Westwood. “We can sell less, but sell better, and still be profitable.”
I think it is important to have a clear brand strategy to sell less but better product. This will not only benefit the planet but also the bottom line as well as creating much higher customer satisfaction. We all have that special piece of clothing or a sneaker we love and never want to give away. Sadly, too often there is an inbuilt expiry date to those special pieces while the goal of every brand should be the creation of that outstanding piece that customers love and treasure for a longer.
Sustainability as a driver for innovation
“Fashion is one of the most polluting industries in the world. Sustainability must be built into the very DNA of a company’s strategy. Sustainability is not a constraint for creativity. It’s an opportunity, an invitation to be better, now called for by customers and investors alike” said Marie-Claire Daveu, Chief Sustainability Officer at Kering.
By now we are consuming 1.5-2 times of our planet’s regenerative resources every year. This is not a sustainable future; we need to walk a new creative path away from take – make – dispose to where sustainability is at the heart of every company. Regenerative thinking starts with the first sketch of an idea. Every idea needs to be looked at from a resource, use, and end-of-life point of view before creating it. All stakeholders need to be involved in how we can create ideas with an all-around positive impact. Now is the time to change the linear model and reshape it into a more regenerative and agile system. Think more local, involve all the right stakeholders at the right time and make sure that we contribute to the shift in mindset that is driving the change in consumer behaviour. We all can do our bit to create that meaningful shift.
A new world
“People can flourish without endlessly accumulating more stuff. Another world is possible.” Tim Jackson, a professor of sustainable development at the University of Surrey
I think at this point we all agree that the endless growth period of overproduction and profit needs to end, and we must focus on more sustainable growth models. Doughnut economics is one of the newer ideas that is considering planetary boundaries as well as socioeconomic parameters. What I see when looking at new models and growth systems is endless creativity, hope and inspiration. Once you shift your views away from a linear profit model to a more inclusive longevity-driven model, new possibilities open up. You can change the rules, get creative, make better and therefore more desirable products and services. Once you stop the overproduction and margin-driven hamster wheel, you can design your own model that can work for everyone. A new beginning is here.
Read the report here
What is your take on the report? Let us know down below