Luxury Segment Joins the Green Party

Are luxury goods makers shifting attention to their eco quotient to save face as their market flags? The Wall Street Journal  reports on recent steps high-end companies have taken to express commitment to environmental pursuits, such as Tiffany & Co. devoting its window displays to a showcase of its coral reef protection efforts and Barneys’ promotion of Keds by Loomstate organic sneakers.
 
Lately, more moderate companies have expressed uneasiness about loudly declaring their eco-friendliness. While the hot topic for a while, many have now backed off, choosing to pursue greener practices silently rather than beating consumers over the head with their efforts. And although recent studies still contend a significant number of today’s shoppers are more likely to buy green products over regular goods, some footwear manufacturers believe the recession means all bets are off—for now, value trumps the environment.
 
So are luxury vendors just late to the eco party? Or are they smart to target an issue that might resonate among young, progressive consumers—perhaps the ones with more discretionary funds to burn? Let us know your thoughts—leave us a comment or shoot me an e-mail at lshiers@symphonypublishing.com.
(Photo: The Keds by Loomstate collection)