MILAN — Fashion industry experts say luxury consumers are expressing a willingness to spend more for garments whose production doesn’t harm the environment or exploit workers, a sign they said of a new era of sustainability in fashion.
McKinsey & Company consultancy said at an Italian Fashion Chamber round-table Tuesday that 70 per cent of consumers were willing to pay some premium for items produced sustainably. The significance of the trend was underlined by projections that the global garment industry will expand by two-thirds by 2030, while being responsible for one-quarter of the global carbon footprint by 2050, up from 2 per cent in 2015.
Environmental, social and governance issues were identified as key markers defining luxury brands’ commitment to sustainability. Speakers also called for greater diversity.
Colleen Barry, The Associated Press
