The luxury world is filled with talk about “social good.”
The wealthy are going Green, we’re told. They care about how companies treat their workers and communities. They prefer to practice responsible Lux-Anthropy, which maintains you can buy that expensive handbag or necklace and still feel good about its positive impact on mankind.
But apparently, there limits to Lux-Anthropy.
A new survey from the Luxury Institute shows that just 39 percent of consumers with more than $150,000 in income are willing to pay a premium for brands that champion high ethical standards. And the number of affluent consumers who seek out ethical brands is down by 11 percent since 2007.