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LMIS 2021: How to choose the right tools to reinforce circularity for fashion and luxury companies?

LMIS 2021: How to choose the right tools to reinforce circularity for fashion and luxury companies?

The 2021 edition of the Luxury Marketing Innovation Summit was held on Tuesday, March 30, and on this occasion, several topics were presented in the form of a panel or keynote speech, opening the dialogue around current issues related to the circular economy in the luxury sector. Isabelle Massa (Mazars), Pierre-Nicolas Hurstel (Arianee), Jonathan Andres (RSVP) and Pierre-Arnaud Grenade (Ba&sh) discussed how the right tools can reinforce circularity in fashion and luxury companies.

 

The panel entitled “How the right tools can help fashion and luxury businesses?” featured four speakers with circular ambitions, specialists in the luxury and fashion industries. Isabelle Massa (Mazars), Pierre-Nicolas Hurstel (Arianee), Jonathan Andres (RSVP) and Pierre-Arnaud Grenade (Ba&sh) shared their vision of the circular economy in the luxury and fashion sectors and proposed innovative solutions adapted to companies in these sectors.

 

Pierre-Arnaud Grenade, the President and CEO at Ba&sh unveiled the campaign video for the launch of the new second-hand service offered by the French fashion brand. This tool allows second-hand retailers to offer products previously purchased from Ba&sh, and registered on the site, via a second-hand platform.

 

For customers interested in buying second-hand products, Ba&sh has also set up a certificate of authenticity service that the brand commits to provide for any purchase of a second-hand Ba&sh product. Pierre-Arnaud Grenade explains: “This is a very open and needs-oriented technology, and to my knowledge, this is the first time these two technologies are combined.”

 

Jonathan Andres, the co-founder of RSVP, introduces his brand, founded in 2015: “We make leather goods and limited editions, which is a maximum of 500 copies of each item. We have two boutiques in Paris and we opened a boutique in Seoul, South Korea, last year. So we are growing, but we are still very young in the industry”.

 

The RSVP co-founder goes on to explain that, “We’re pretty unique for two reasons, and the first is that we have very special return policy, at RSVP you can return your product one year after purchase, even if you’ve used it. So if you come back to our store, and you ask for a refund or you ask for an exchange, we will do it, no strings attached and no questions asked.

 

Specializing in second hand, the second point that makes the brand unique is the fact that RSVP assures that “repairs are free for life”. Indeed, the brand is particularly aimed at Generation Z and millennials, and is made up of employees who are also from these generations, so “You know, at Hermès, luxury is something you can fix and that’s certainly something we have in mind when we design our bags.

 

Pierre-Nicolas Hurstel, CEO and co-founder of the Arianee brand, presented his collaborations with RSVP or Ba&sh: “We empower brands to build circular business models and the products we propose to do that are the digital passport, the digital twins that will represent the physical product in the digital world.”

 

Pierre-Nicolas Hurstel details how this tool works: “When you look at a handbag from Ba&sh or RSVP, it’s not connected, which causes a lot of problems when you want to do something with it, sell it, repair it, recycle it or access a service from the brand’s community. You need to be able to prove that you are the rightful owner of an authentic asset, and digital twins will enable that, we are using a technology that creates the sense of digital value, which is called the blockchain.”

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Isabelle Massa, head of the luxury division at Mazars, explains what the most common questions or needs of luxury clients are regarding sustainability and ethical issues. “We are an audit consulting group, and what clients mainly ask us is two types of things. One is to help them with their ESG and CSR policy and procedure, and the second is data, but non-financial reporting data. They usually ask us to help them find the right policy, to help them write their CSR goal and strategy, to find the quick fix that they can manage,” she explains.

 

Read the full discussions at the Luxury Marketing Innovation Summit 2021 soon in Luxus+ Magazine.

 

Read also > LUXURY MARKETING INNOVATION SUMMIT 2021: HOW NATURALNESS AND TRANSPARENCY CAN HELP REBUILD TRUST AND CONSUMER CONFIDENCE ?

 

Featured Photo : © Luxus Plus

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