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Boosting Luxury Sustainability Through Blockchain Technology

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Blockchain Technologies in the Textile and Fashion Industry

Part of the book series: Textile Science and Clothing Technology ((TSCT))

Abstract

Global luxury brands have been investing significantly in “green” technologies and other measures to fight against climate change. While this is not limited to innovations in the supply chain, embracing new values and perspectives in response to the evolving needs of consumers and the environment can act as a game-changer. Sustainable luxury is a new concept that refers to a business/brand’s excellence in social and environmental dimensions and stresses not harming and doing good for the planet, workers, consumers, and society at large. Luxury and sustainability may be considered contradictory by some consumers as luxury is tied to pleasure and superficiality which oppose moderation and altruism. Luxury is also purchased for status signaling that creates ‘social unrest’. Whereas sustainability is linked to mutual social benefits. Nevertheless, luxury can be an exemplar of sustainability especially the luxury industry accentuates quality excellence, preserving heritage and craftsmanship, as well as defends local products against delocalization in low-wage countries. Thus, luxury might be viewed as possessing a less negative socio-environmental impact compared to mass products. For this reason, luxury brands need to increase visibility and transparency and encourage traceability throughout the supply chain. This chapter aims to discuss how luxury brands can custom blockchain technology to trace their supply chains, and how this can help in creating a real brand sustainable image and value expected to enhance consumers purchasing behavior toward sustainable luxury brands.

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  1. College of Business Administration, American University of the Middle East, Egaila, Kuwait

    Nermain AL-Issa, Marsela Thanasi-Boçe & Omar Ali

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  1. Nermain AL-Issa
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    Subramanian Senthilkannan Muthu

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AL-Issa, N., Thanasi-Boçe, M., Ali, O. (2022). Boosting Luxury Sustainability Through Blockchain Technology. In: Muthu, S.S. (eds) Blockchain Technologies in the Textile and Fashion Industry. Textile Science and Clothing Technology. Springer, Singapore. https://doi.org/10.1007/978-981-19-6569-2_2

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  • DOI: https://doi.org/10.1007/978-981-19-6569-2_2

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