SUSTAINABILITY

Sustainability as long-term value The cultural shift has been gradual but purposeful, with other brands taking McCartney’ s mantle and running with it. In the early 2010s Kering piloted an Environmental Profit & Loss account with Puma, often cited as one of the first serious attempts by a luxury group to price natural capital, while the likes of Chanel, Gucci, Giorgio Armani and more moved to fur-free products.

In 2019, Kering Chairman of the Board of Directors François-Henri Pinault launched the Fashion Pact at the G7 in Biarritz, bringing together dozens of brands under shared commitments on climate, biodiversity and oceans. Most recently the group, consisting of brands including Chanel, Moncler Group, Prada Group and Hermès, launched the European Accelerator initiative designed to improve supplier data and drive more sustainable supply chains.

For fashion’ s biggest businesses, pressure is intensifying from every side. In Brussels, the EU Strategy for Sustainable and Circular Textiles, launched in early 2022, is now being translated into binding rules on ecodesign, recycled content and more, pushing the compliance agenda.

Leather, wool and cashmere make up only 3.8 % of apparel by volume...

Investors increasingly treat environmental and social performance as a measure of operational discipline and long-term value, while consumer habits are reshaping the conversation. A 2023 survey of European luxury shoppers found that 77 % consider sustainability an important factor in their purchases and 51 % are prepared to pay up to 10 % more for products with lower environmental impact in production or delivery.

Buying habits are shifting too. The global second-hand fashion

146 March 2026