Redefining Luxury: Exploring Sustainable Practices and Ethical Branding in the Green Age

Author(s)	B. Indira Priyadarshini, Dr. Devi Prasad Ungarala
Country	India
Abstract	The luxury industry has traditionally been associated with opulence, exclusivity, and a disregard for environmental and social considerations. However, as sustainability becomes a critical global issue, luxury brands are facing the need to adapt and redefine their value propositions. There are a number of challenges that luxury brands face in embracing sustainability. These challenges include: • The high cost of sustainable materials and processes • The lack of consumer demand for sustainable luxury products • The difficulty in communicating the sustainability credentials of luxury brands
Keywords	Sustainable luxury, Eco-innovation, Ethical branding, Green Age, Consumer preferences
Field	Business Administration
Published In	Volume 5, Issue 6, November-December 2023
Published On	2023-11-21
DOI	https://doi.org/10.36948/ijfmr.2023.v05i06.8651

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International Journal For Multidisciplinary Research