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Luxury Labels Flaunt Green Cred
Top-end firms realize eco-friendly image can boost brand value
By Rob Quinn
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Posted Jul 2, 09 7:02 AM CDT
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(Newser)
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As traditional luxury good buyers make way for a new generation of eco-conscious consumers, luxe brands are jostling to show off their planet-saving credentials, the Wall Street Journal reports. Firms like Louis Vuitton and Tiffany are snapping up eco-friendly firms, introducing new lines, and using green themes in their advertising in an effort to reinvent brands associated with conspicuous consumption.
"We want to change the way we conceive our business, socially and environmentally speaking," said the head of French retail giant PPR, home to the Gucci and Yves St. Laurent brands. The firm—which got a 'D" on a 2007 corporate report card from conservationists—has sponsored an eco-documentary highlighting the damage human excesses do to the environment, and has tied executive bonuses to targets like reducing carbon emissions.