NYT: Luxury-Goods Makers Embrace Sustainability

[Jeff]

Industry executives say they are trying to change the image of the luxury goods business by embracing new environmental and labor standards, according to this article in The New York Times. The motivation for this shift is not entirely altruistic -- and that's a good thing. Greed has gotten us into so many of the messes we're in, and greed alone (no - not "alone" - greed, driven by increasingly enlightened consumer demand) will get us out of them.

"Increasingly," the Times article says, "consumers are demanding that the goods they buy be made in ways that do not harm the environment or the workers who make them. They are often willing to pay more for “green” products or “fair trade” goods. And in the current economic downturn, luxury brands are searching for new reasons to persuade consumers to pay for their high-priced products. "

As I've been saying for more than a year on OurWorld, if the customer is always right, then it's time to create a better customer. Education, concern for future generations, and good old-fashioned outrage should cause us all to buy less crap and to be willing to spend more for quality. Quality means utility, durability, and social and environmental benefit. These things are not at odds with each other, or with earning a living. We just have to learn some new habits. Want a hint? Go talk to your grandparents or someone old enough to be your grandparent -- I'm sure they have a lot to say on the subject.

The Times article quotes Francois-Henri Pinault, chairman and chief executive of the French luxury giant PPR:

“Today, more than ever, people want a return to genuine values, such as timelessness, sincerity and exemplary standards. And these are all qualities which — as we have seen — are inherent in sustainable luxury.”

Fine words, Mr. Pinault. Let's see you live by them after the economy rebounds.
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