High-end luxury fashion brands Prada and Moncler are adding sustainability logos to their products, with the goal of driving more consumer interest.
Labeling is a newer approach to highlight more sustainable fashion products, and these brands are not the only ones making changes.
Sustainability has already been massively influencing a large portion of the fashion industry, and now luxury brands are starting to come up with innovative ways to show consumers their products are being ethically sourced.
Because of the pandemic, the sustainable fashion industry experienced a huge decrease, with its value going down from $6.35bn to $6.14bn within a year. However, with consumers starting to seek out organic,' 'second-hand,' and 'vegan' fashion products online, the searches for these terms are beginning to suggest consumer demand is changing, which is why the sustainable fashion industry is expected to reach US$8.25bn by 2023.
Another company that will accelerate the growth of sustainable luxury fashion is Kering,, the owner of Gucci and Balenciaga. They've recently announced their plans to become an eco-conscious fashion giant. Alongside Prada and Moncler, the company recognized the need for products to help the environment by initiating the Fashion Pact, and by working with Fashion For Good the company aims to achieve complete circularity.