Revolutionising luxury fashion: embracing circular business models for sustainable innovation Online publication date: Tue, 24-Sep-2024
by Jinju Heo
International Journal of Environment, Workplace and Employment (IJEWE), Vol. 8, No. 2, 2024
Abstract: With the mounting demand from society to embed sustainability into firms' business models, the luxury fashion industry has been heavily criticised for its wasteful operation models and for its true intention to advance the integration of more sustainable practices in its demeanour. The purpose of this paper is to investigate how the luxury industry can transition its current linear business models into a circular business model while preserving its value offerings and equity. Content analysis of the selected literature was conducted to obtain the most relevant knowledge on how the transition could be pursued and whether a few visible barriers to implementation would emerge from a more systematic analysis of the literature. This study underlines the need for more research to be conducted to reconcile sustainable practices that are insufficiently formulated for strategic embeddedness while elevating the debate to the appropriate level of engagement that the industry needs to make.
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