- Gucci and Kering have partnered to create a circular hub model of manufacturing for luxury brands.
- The goal of the circular hub is to maximise the use of recycled materials and create more durable luxury goods.
- The hub meets the standards of Italy’s PNNR (National Recovery and Resilience Plan) and the EU’s economic strategy to reduce carbon emissions by 2030.
Gucci has announced a partnership with Kering to create a circular hub model for the sustainable production of luxury fashion in Italy. This is good news for consumers looking to purchase high-end, sustainable products while in the country.
1.5 million tourists flock to Italy each year with the prime motivation of shopping.This is due in part to a combination of favourable exchange rates, higher-quality manufacturing and the opportunity to purchase products that are only available in Italy.
For travellers looking to buy luxury fashion products from Italy, it is essential to find the best methods of money transfer, as this will enable safe and secure payments when shopping internationally.
Italy is home to some of the most popular luxury fashion houses, including Gucci, Yves Saint Laurent and Balenciaga.
Internationally, luxury goods makers are taking a strong stance towards sustainability by using renewable resources and recycled materials.
The circular hub model will help promote sustainability throughout the Italian fashion industry, and minimise waste and pollution.
The reduced waste at manufacturing facilities will lower production costs, thus reducing the likelihood of steeper price increases for consumers.
Better environmental and workplace practices will also encourage more individuals to purchase luxury goods, adding significant revenue to manufacturers making improvements.
In the future, luxury goods consumers will be given environmental impact information for each product purchased.
It is expected that other luxury goods manufacturers worldwide will need to create sustainability plans and implement them if they want to sustain their brands.
Good marketing campaigns will be essential to maintaining and gaining new luxury goods customers.
Be sure to check out FXC’s money transfer comparison tool before your next shopping trip or holiday abroad!
