Interesting Reading on Green Luxury

This week’s interesting reading puts the spotlight on green luxury. The topic of sustainable luxury is incredibly important in today’s world, and encouraging the wealthy to buy green products requires luxury companies to rethink the way they create their products and market themselves. The articles we’ve included this week discuss an exciting new sustainable superyacht making its debut in Monaco and the surge of luxury brands aligning themselves with environmental causes, two cases in which the fusion of luxury and sustainability has been quite a success so far.

Super Green Superyacht

UK-based Callendar Designs has just unveiled their latest creation – a solar, wind and marine powered superyacht with an unforgettably original design. A sleek rigid wing spans the length of the luxury yacht and three shark fin solar panel sails capture enough energy to power the 58-meter yacht at a speed of 8 knots using no additional energy source. The 23-year old designer’s goal in his creation was to show that, “Eco-luxury should no longer be viewed as an oxymoron. Soliloquy [the name of the superyacht]…is a true metaphor to show that this ideal is viable.” Well said.

Chanel branded segway, complete with Chanel 2.55 handbag underneath the handlebars

Read the full article at Marine Business News.

A Chanel branded Segway?

Luxury goods makers are partnering with environmentally-conscious initiatives to give their products a green edge. According to Pam Danziger, consumer trend expert at Unity Marketing, “Luxury consumers like to feel good when doing bad, and doing bad today means spending money.” Apparently luxury brands are banking on the fact that aligning themselves with feel-good causes will help boost sales of their products. Whether you agree or disagree with their tactics (which range from Chanel-branded Segways – complete with Chanel 2.55 handbag – to LVMH sponsored contests for stylish cycling wear designs), you have to admit that at least they are doing something good for the environment.

Read full article at Barrons.