British luxury brand association Walpole has launched a sustainability manifesto.
The launch took place at the association’s annual CEO and chairman dinner, and was attended by more than 100 British luxury brands and retailers, including Burberry, Harrods and Mulberry.
The manifesto, which is aligned to United Nations sustainability goals, set out four best practice aspirations in sustainability for the sector: lead the transition towards a circular economy; safeguard the environment; guide partners and suppliers towards sustainable practices; and advocate equal and respectful working conditions.
“If British luxury is to achieve its target of £65bn in sales over the next five years, sustainability has to be at the heart of every brand’s strategy,” said Walpole CEO Helen Brocklebank. “For millennials and Generation Z, who will account for half of all luxury sales by 2025, true luxury only comes with a clean conscience.”
Michael Ward, chairman of Walpole and managing director of Harrods, said: “There is no doubt that the commitment to quality and strong values that define our industry must now incorporate measures that prioritise sustainability within our individual businesses.
“Walpole’s British luxury sustainability manifesto is the unifying platform needed to focus our individual strategies, share best practice and demonstrate our commitment to one of our industry’s biggest strategic priorities.”