Brand affinity has a halo effect: how much someone likes a brand positively correlates with how sustainable they believe the brand to be, no matter how sustainable the brand actually is, the Vogue Business Index shows. The survey of luxury consumers showed that brands ranking highest in the metrics for consumer sentiment, including Louis Vuitton, Hermès and Chanel, were also among the top-rated for their environmental, social and corporate governance (ESG) measures — despite sharing few details of their efforts in these categories. The research, done in November 2019 through January 2020, also analysed factors like corporate governance, board effectiveness and culture. Chanel, one of the top-scoring brands in the Index, acknowledges that sustainability is a work in progress. (Gucci and Louis Vuitton declined to comment; Hermès did not respond.) “This survey echoes our efforts in responding to the fashion industry’s major transformation challenges,” a Chanel spokesperson said in an email. Here.
Fashion can’t afford to wait for customers to demand sustainability #92020/07/06
The Vogue Business Index shows that brand loyalty often trumps brand values in determining whether or not consumers believe a brand to be sustainable.