Most sustainable luxury brands worldwide 2022

In a survey conducted with global consumers in early 2022, Chanel came out as the most sustainable luxury fashion brand. In addition to around 18 percent of consumers who viewed Chanel as a sustainable brand, one third of surveyed consumers thought Chanel's ESG efforts made the brand a leader in the luxury fashion industry.

Sustainability and the luxury consumers

With the climate crisis looming, sustainability and environmental awareness is becoming important topics for both luxury brands and luxury consumers. For example, the results of a recent survey showed that for over half of the luxury shoppers in Europe, the adoption of sustainable luxury policies (such as environmental protection, social responsibility, and ethical behavior) by luxury brands was very important. Moreover, Asian luxury consumers were willing to pay more for products that position themselves as sustainable luxury compared to mainstream products. However, over a third of consumers worldwide still does not believe that luxury brands are more respectful of the environment than other brands in the apparel, fashion, and accessories industry.

A changing economic landscape

Sustainability concerns of the consumers are changing the economic landscape of luxury goods shopping as more and more consumers are opting for renting or buying secondhand luxury goods. The total value of the secondhand luxury goods market was around five billion U.S. dollars in 2021. According to the forecasts, this market could grow substantially in the coming years.