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Brands have reimagined design and distribution of products in a context of lower sales volumes and digital acceleration. As luxury fashion brands adapt and survive in the "new normal," they can drive a renewed vision of the luxury business that demonstrates how to decouple volume growth from value growth.
Circular economy Decoupling economic growth from the consumption of finite natural and fossil resources and developing a circular economy are key approaches to sustainable valuecreation and climate protection. We are also leveraging the expansion of digital solutions to support this initiative.
Factoring in that flexibility upstream — by designing both tooling and products to be repurposable and versatile — could be a way to enhance value-creation potential and achieve greater resilience of industry, both valuable beyond the current situation.
Social Protections: The participation gap in informal cultures is reduced via labour rights, financial access, digital inclusion, etc. The influence of culture drives the intertwined nature of formal-informal economic activities, which means that enterprises operating in this sector need to take a more holistic approach to valuecreation. .
But it is also, through digitalization and the internet, increasingly connecting us as never before. In August of 2019, 181 CEOs of America’s largest corporations committed to a purpose driven, multi-stakeholder approach to long-term valuecreation.
“ The crises we face are not a science problem, they are a human problem.” – Doug McMillon, CEO of Walmart, announcing Walmart’s commitment to become a “Regenerative Company” . But it is also, through digitalization and the internet, increasingly connecting us as never before. Doug McMillon is right.
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