@inbook{85e1792b99d8422cb01b60f39ed16b9b,
title = "An Innovative Circular Business Model for the Luxury Fashion Industry",
abstract = "The luxury fashion industry, projected to reach \$84.04 billion by 2025, is increasingly shifting towards innovative circular business models to meet consumer demand for sustainable practices. This study explored the transition from traditional linear models to circular economies, highlighting the challenges and opportunities in luxury fashion. Using a content analysis of relevant literature, key findings revealed that while luxury brands publicly support sustainability, many have yet to integrate it fully into their business models. The research suggests that embedding circularity enhances brand equity and creates a competitive advantage. Moreover, the study underscores the role of strategic planning in facilitating this transition and stresses the importance of aligning sustainability initiatives with consumer values. Results showed that internalized consumers prioritize economic and ethical dimensions of sustainability, while externalized consumers focus on legal and philanthropic aspects. The study calls for future research and policy frameworks that foster circular economy adoption in luxury fashion.",
keywords = "Business model, Circular economy, Circular strategies, Consumption, CSR practices, Economy practices, Innovation, Luxury, Luxury brands, Luxury consumption, Luxury fashion, Luxury fashion industry, Model, Strategic, Strategy, Sustainability challenges, Sustainability in luxury fashion",
author = "Marcos Komodromos and Jinju Heo and Tatiana Harkiolakis and Daphne Halkias",
note = "Publisher Copyright: {\textcopyright} The Author(s), under exclusive license to Springer Nature Switzerland AG 2025.",
year = "2025",
doi = "10.1007/978-3-031-96680-4\_3",
language = "English",
series = "Palgrave Studies in Cross-Disciplinary Business Research, In Association with EuroMed Academy of Business",
publisher = "Palgrave Macmillan",
pages = "65--94",
booktitle = "Palgrave Studies in Cross-Disciplinary Business Research, In Association with EuroMed Academy of Business",
}
