European business schools are a rich source of graduates for the global luxury goods sector. No fewer than 19 of the 22 business schools with luxury programmes are in Europe, according to the US-based AACSB accreditation body, with more than half of these courses in France and a fifth in Italy.<\/p>\n
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But luxury brands \u2014 and those teaching about the industry \u2014 are under growing pressure from millennial and generation-Z consumers and students to promote sustainable and ethical practices, says Julia Pueschel, director of the MSc in luxury marketing at Neoma Business School<\/a> in northern France.<\/p>\n This is a cohort conscious of climate change and keen to align with brands trying to make a difference. In a time when greenwashing is rife, and in a sector in which some businesses wear paper-thin eco-credentials on their sleeves, engaged consumers want more than covetable products with snappy sustainability straplines. Many want more detail.<\/p>\n Some 72 per cent of generation-Z consumers take into account companies\u2019 commitment to sustainable development when deciding their purchases, according to a survey this year by Boston Consulting Group and Altagamma, an Italian luxury trade body.<\/p>\n \u201cMany of our students on luxury programmes frequently highlight sustainability concerns when discussing luxury brands,\u201d says Pueschel. \u201cIn presentations given by representatives from luxury companies, students consistently ask about sustainability initiatives and policies and, when these students undertake research projects, sustainability consistently emerges as a central theme.\u201d<\/p>\n Barbara Slavich, academic director of the Master in Fashion Management at I\u00e9seg in France, says that in response, business schools must equip students not only with sustainability awareness, but also detailed understanding of ethics and social responsibility.<\/p>\n \u201cThey need knowledge of ethical business practices, such as labour rights, fair trade, and responsible sourcing, and environmental expertise, such as regulations, certifications and standards,\u201d Slavich says. \u201cThey need an understanding of sustainable materials and processes, including eco-friendly packaging and product design, as well as familiarity with key sustainability concepts such as the circular economy, sustainable sourcing and carbon footprint reduction.\u201d<\/p>\n Students must grasp concepts such as lifecycle analysis and new ownership business models from the circular economy, including renting, second-hand, recycling and upcycling, says Isabelle Chaboud, programme director of the MSc in fashion, design and luxury management at Grenoble Ecole de Management<\/a>. The programme includes a one-week study trip with the theme: Sustainability and Innovation in the Fashion and Luxury Sectors.<\/p>\n <\/p>\n