GJ Town India

Towards provenance of luxury goods   Younger generations more interested in ethics and sustainability as  the new status in luxury and are prepared to pay a premium for this   New research published in De Beers Group’s latest Diamond Insight Flash Report highlights that consumer attitudes towards provenance are changing as younger generations value ethics and sustainability assurances beyond simply knowing where a product originated. [Read: latest Diamond Insight Flash Report: https://gjtownindia.blogspot.com/2021/11/latest-diamond-insight-flash-report_20.html ]      Based on research conducted among 1,000 US consumers, the report found that while consumers aged 50 and above cited quality factors as being their most important considerations relating to provenance of luxury goods (for example, French champagne, Italian cashmere), the 18 to 34 age cohort over-indexed on factors such as ‘human rights,’ ‘environmental impact’ and ‘from a company whose va...

Diamond insight Flash report #7 November 2021 Why where and how matter and what gen z has to do with it: Since luxury items have existed, where they came from has been an essential part of their stories: from Persian rugs to Russian caviar, place of origin has suggested something about the innate value and superiority of materials. Luxury brands, particularly the storied European houses, have made provenance coupled with artisanship the overarching narrative explaining the value of their goods. Slowly and then quickly, however, provenance has grown in dimension as well as salience. Previously, provenance was a shorthand for quality and authenticity. Today, people might prefer rugs made in facilities ensuring no child labor or choose caviar sustainably sourced in America.  Provenance has added meaning-the safety and integrity of sourcing, the ecological and ethical implications of its supply chain, the care with which the people who touch or craft a product are treated. No matter th...