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An Innovative Circular Business Model for the Luxury Fashion Industry

In: The Evolution of Luxury Brands, Volume II

Author

Listed:
  • Marcos Komodromos

    (University of Nicosia)

  • Jinju Heo

    (Glion Institute of Higher Education
    SolBridge International School of Business)

  • Tatiana Harkiolakis

    (ISC Paris Business School
    Ecole des Ponts ParisTech Business School)

  • Daphne Halkias

    (EIM - European Institute of Management)

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.

Suggested Citation

  • Marcos Komodromos & Jinju Heo & Tatiana Harkiolakis & Daphne Halkias, 2025. "An Innovative Circular Business Model for the Luxury Fashion Industry," Palgrave Studies in Cross-disciplinary Business Research, In Association with EuroMed Academy of Business, in: Alkis Thrassou & Demetris Vrontis & Leonidas Efthymiou & Yaakov Weber & S. M. Riad Shams & Evangelos (ed.), The Evolution of Luxury Brands, Volume II, chapter 0, pages 65-94, Palgrave Macmillan.
    • Handle: RePEc:pal:pscchp:978-3-031-96680-4_3
    DOI: 10.1007/978-3-031-96680-4_3
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