Here is why customers are ready to pay more for small handmade luxury labels
“There is no greater luxury than sustainability. That’s the mission at PORTRAIT Eyewear — a small firm in Northern Italy that specialises in handmade Italian glasses and sunglasses inspired by contemporary art.
In the last few years, luxury fashion has been one of the most rapidly expanding and well-performing industries (+4% in 2019, with a global market value of $310 billion for personal luxury goods), with a corresponding increase in visibility for brands.
Currently, luxury brands are ubiquitous in all major cities worldwide, and they will continue to attract consumers’ attention as the highest status symbols of the ‘consumption-society’, which now dominates the world. But we need to be cautious, because the implicit association between famous brand names and high quality is not always accurate.
Most of the time, ‘expensiveness’ is just a synonym for ‘premium price’, which does not necessarily imply quality, craftsmanship or a sustainable business approach. Consumers should focus instead on the intrinsic worth of luxury products that truly embody a sustainable ethic.
‘Today we are setting the standards for sustainable luxury, says Valentina Hernandez, CEO and co-founder of PORTRAIT, ‘where premium fashion can embrace a responsible business behaviour and pursue sustainable development. Every day at PORTRAIT, we strive to reinforce the blend between luxury and a series of sustainable targets, such as reducing our environmental impact, preserving raw materials, supporting our suppliers, encouraging luxury craftsmanship, and being sustainable right from the start. We are working to create a real Italian hub for fashion and handmade eyewear, defining tomorrow’s vision of luxury.