The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Richemont-owned Chloé became the European luxury industry’s first major player to achieve certification as a “B-Corp” — a designation for companies that show a demonstrable commitment to having a positive environmental and social impact beyond creating value for shareholders.
Since announcing its plan to become a B-Corp last year, the Paris-based handbag maker has accelerated its adoption of materials with a lower environmental impact, partnered with more Fair Trade certified suppliers, and made commitments to promoting women’s equality, the brand said in a statement.
With the move, Chloé — which is trying to reinvigorate its business under former Maison Margiela CEO Riccardo Bellini and designer Gabriela Hearst — is aligning itself with companies who have made sustainability commitments a central part of their message to consumers including outdoor sports brand Patagonia and direct-to-consumer shoemaker Allbirds.
Learn more:
ADVERTISEMENT
Inside Gabriela Hearst’s New Chloé
The eco-minded entrepreneur and freshly installed Chloé designer talks to Tim Blanks about her creative vision for the French house.
The designer has always been an arch perfectionist, a quality that has been central to his success but which clashes with the demands on creative directors today, writes Imran Amed.
This week, Prada and Miu Miu reported strong sales as LVMH slowed and Kering retreated sharply. In fashion’s so-called “quiet luxury” moment, consumers may care less about whether products have logos and more about what those logos stand for.
The luxury goods maker is seeking pricing harmonisation across the globe, and adjusts prices in different markets to ensure that the company is”fair to all [its] clients everywhere,” CEO Leena Nair said.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector.