Sustainable development is becoming a key factor for consumer decision-making in the luxury market. According to the Deloitte report, consumers are increasingly choosing environmentally friendly and ethical products, which forces luxury brands to actively invest in sustainable practices and products.

The main areas of investment include the development of environmentally friendly products, the use of recycled materials and compliance with ethical labor standards. Luxury goods brands are also actively developing waste-free economy models, creating resale platforms and cooperating with used goods markets. Investments in green technologies are necessary to reduce the ecological footprint of luxury goods production.

According to data from Markwide Research for April 2024, the Russian luxury goods market also follows global development trends. The demand for luxury goods in Russia is influenced by global brands and the growing desire of Russian consumers to lead a luxurious lifestyle.

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