Criteria
Criteria that should be followed
- Of course, the obvious solutions like discounts or coupons have already been thought of – so think new, think out-of-the-Box and think innovative
- Efficient and the easiest possible way for the consumer – we all have little time!
- In line with luxury codes and Swarovski’s new brand positioning (in the “attainable luxury” space)
- Scalable solutions
- Potential Implementation within a 5yr timeframe
- Broad scope: engaging for the broader audience
Promising approaches
- Digitalization
- Gamification approaches
Approaches that have already been pursued or are excluded
- Obvious monetary incentives (like coupons, H&M’s approach)
- Philanthropic & charity approaches
- Niche applications (that are restricted only to a certain audience)
Sustainability and Circular Economy @ Swarovski
Sustainability is an integrated part of our brand although we are not aiming to become a purpose driven (B-Corp) company.
- https://www.swarovski.com/en-CH/s-sustainability-commitments/
- https://asset.swarovski.com/raw/upload/v1609330514/Swarovski_Sustainability_Report_2019.pdf
There are already numerous programs in place that offer closed loop systems to reuse materials, and processes in place that allow the recycling of materials, for example closed loop systems on materials such as water and rare earth.
An innovative burning process where waste material is converted to recycled raw beads for re-use is employed. This process also reduces the number of raw beads that need to be produced and offers an alternative to freshwater pearls.
Additionally, since 2015, Swarovski have offered a formal program that works with academic institutions and emerging designers to utilize crystals that have gone through their full sale lifecycle and are considered end of line. This enables Swarovski to reduce their waste footprint and encourage others to repurpose materials that are no longer ‘needed’.
